An evening view of Canton Tower in Guangzhou, Guangdong province, on July 30, 2019. (PHOTO / VCG)
HONG KONG - Hong Kong entrepreneurs’ enthusiasm is growing for setting up business in the Guangdong-Hong Kong-Macao Greater Bay Area, despite the impact of the coronavirus pandemic which blocked cross-border travel, with Guangzhou, Shenzhen and Zhuhai being the most popular Chinese mainland cities, according to a survey by the Hong Kong General Chamber of Young Entrepreneurs.
Nearly 70 percent of respondents said they are confident that their business will get back on track after the pandemic, according to the survey, which was released on Tuesday.
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Nearly 70 percent of respondents said they are confident that their business will get back on track after the pandemic, according to the survey by the Hong Kong General Chamber of Young Entrepreneurs
The chamber conducted the survey on the direction of youth innovation and entrepreneurship in the Greater Bay Area between Aug 10 and 15, interviewing 163 startups established in Hong Kong for less than eight years and with the city as their corporate headquarters, to track their latest development and difficulties in starting up businesses.
The survey found that Guangzhou, Shenzhen and Zhuhai are the most popular mainland cities in the Greater Bay Area for Hong Kong young people to start businesses. While 30 percent of respondents consider that local GBA industries suit their business development, 27 percent believe that local GBA government policies are conducive to their business development.
Convenient transportation and the supportive policies in Guangzhou, Shenzhen and Zhuhai, coupled with people’s familiarity with the cities, made them the three most popular cities outside Hong Kong for its young people to start businesses, said Calvin Tse, the chamber’s chairman.
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There has been a growing trend of young people starting businesses in the Greater Bay Area, covering a wide range of industries but mainly in the technology field, said Tse. Many entrepreneurs choose to open coffee shops or engage in education and retail businesses, he added.
The pandemic has made it difficult for Hong Kong people to commute to and from the mainland, posing a challenge to entrepreneurs who wish to set up business in the Greater Bay Area, Tse admitted. He suggested that Hong Kong entrepreneurs collect more information about the Greater Bay Area to prepare for the post-pandemic period.
Many respondents would like to receive first-hand information on the policies and news related to the region, Tse said, suggesting that the government launch targeted information analysis to help local entrepreneurs develop on the mainland.
