Amid the boom and bust, two entrepreneurs are reshaping their Dongguan businesses to ride out the global economic doldrums. Feiger Huang Yaohui, a key shareholder of Xing Hui Auto, spent 300,000 yuan (HK$340,000) taking over a smaller rival in Dongguan City, the commercial and retail centre of Dongguan, to expand his vehicle maintenance service last month. The move has proven far cheaper than setting up a service centre from scratch, which was what he did two years ago in industrial town Dalang at a cost of 1.2 million yuan. 'The economic slowdown has forced some players to the wall and given us an opportunity to expand,' said Mr Huang (above), whose Dongguan City car service outlet is one of three Xing Hui outlets in Dongguan. 'There are opportunities in the crisis, the question is whether you dare to take a risk or not,' said Mr Huang. The global credit crunch and weakened demand has taken a severe toll on exports and threatened the survival of hundreds of thousands of small and medium-sized enterprises in manufacturing-oriented Guangdong. But despite the uncertain economic outlook, Mr Huang plans to expand through franchising and to tighten receivables management to avoid debts. A case in point was a factory seeking a service contract to maintain a fleet of 20 limousines on a 12-month basis, with payment settled once every three months, he said. 'I felt this contract was too risky to take. I asked for a down payment, but was refused, so in the end no deal was made.' Andy Gao Guobin, whose family set up an office furniture company called Guangrun Furniture Manufacturing in Dongguan more than two decades ago, said the financial crisis had forced the company to postpone an A-share listing on the Shenzhen Stock Exchange. The listing was aimed at raising 200 million yuan to enhance technological knowhow, improve product designs, and expand the company's national sales network, he said. He expressed hope that extra funding would come from Dongguan municipal government incentives for companies upgrading their value chains and technology levels. Although sales to the United States were expected to decline about 20 per cent this year, Mr Gao said the company would focus on developing the mainland market by supplying office furniture. 'We are a supplier to the World Expo 2010, so we will start preparations later this year,' he said. 'This will help us market our products domestically.'