NIC PANNEKEET CEO, CHC Group
Plowing the Path of Success: Building Trust and Great Teams
Nic Pannekeet, CEO at CHC Agricultural Group. Originally from the Netherlands
How long have you been living in China?
Nineteen years.
I studied here the first two years. I met a few people who I have done research with and gradually started my own business. We first set up the business in 1998.
My partner and I share the company which consists of four subsidiary companies.
As for my responsibility, I am in charge of two of the businesses, one of which is a flower business (a large farm sector) and the other one is a small trading company that employs 30 people, doing exports.
Could you please describe more specifically your job?
I work on the company strategy and investments. It is a long process because I am building the business.
What has changed most since you started the company 17 years ago?
As things have changed all over the world, China has also changed a lot.
The government rules have changed, the focus has changed.
Moreover, the economy changes rapidly. I really came across a lot of difficulties as the economy in China is growing so fast. A lot of things are changing in the industries but it needs to go through many inefficient procedures. I am still figuring out how to cope with this quick change!
How could you cope with this kind of transformation?
We will finally survive. It depends on the government. I suppose there are a lot of smart people in China. People won't be worried about it too much. People are willing to do business.
Do you think it is a common issue with other companies?
Definitely. As growth is slowing down, bureaucracy is becoming even more of an issue. However, China has a lot of entrepreneurs and thanks to them, the economy will still grow.
What are your ‘golden rules’ for people who just started their business in China?
You should treat people well. I think this is very important. Chinese are not very trustworthy and they don't trust each other. Although they don't trust each other, they trust me. It is a very funny thing. I always do short-term business so I try to talk to a lot of people and take their opinions into consideration. I do this to build more long-term businesses. We really have to think about the future.
What is the biggest problem you are facing?
To be honest, managing a business covering all of China is very difficult. China is a big country and consists of many provinces or regions.
The government plays an important role and you have to be mindful of that.
How do you manage to build a successful company and to adapt to the Chinese market and Chinese culture?
I think I am not very involved in the Chinese culture. In China, you need to meet wise people and make wise decisions. You need to meet the right people. This is a very important part, especially for the flower company.
What advice would you give teenagers like me about doing business in China?
I think getting a great education is the priority.
You should learn basic concepts before working in companies, like Human Resources or Finance. This will help you when you start your career.
