Hong Kong Youth Entrepreneurs Overview Survey 2014

The College of Business recently conducted a 2014 Hong Kong Youth Entrepreneurs Overview survey, turning a spotlight on the challenges faced by young business people in the region.  The survey, conducted between April and May, focused on two key aspects:

• the attitudes and experiences of young local entrepreneurs
• the general support from the government and industry during the start-up phase of a business

In collaboration with the Youth Entrepreneur Warrior the survey was conducted by emails and via online questionnaires.  563 of the 3,326 forms issued were completed.  Over 90% of the interviewees were young local adults between the ages of 15 and 35, with one or more college degrees.  The results showed that 61% of respondents had encountered difficulties in business management, while more than 35% believed that their companies are currently in recession as they were in lack of continuous supports and guidance from the professionals. 

Prof Julie Li, Associate Dean of the College, pointed out that the major challenges faced by young entrepreneurs in Hong Kong could be classified in two ways: as entrepreneurial challenges and as operational challenges.

“Young entrepreneurs may not have sufficient liquidity; low-cost business models can easily be copied by competitors.  On the operational end, the lack of innovative thinking and problem solving skills could lead to a failure to creating competitive advantages, thus making it difficult for individual businesses to stand out.”

Mr Alex Tham, Assistant Dean of the College, added that in order to enhance students' knowledge about problem-solving skills, entrepreneurship and business management, market tactics development, and innovative thinking, the College had restructured its undergraduate programme curriculum in response to market demand.

CB strives to equip future leaders with both theoretical and practical knowledge, preparing them for future success.

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Click here to veiw survey findings.