The public have been deeply concerned about the future of the youngsters. A wide array of funds have been set up to support the younger generation in their business startup, including the HK$1 billion worth of Hong Kong Young Entrepreneurs Foundation established by Internet mogul Jack Ma, and the HK$300 million worth of The Youth Foundation by the government.
Starting a business appears to be wonderful as one has full autonomy on decision making. Yet many startup operators revealed that the difficulties kicking in during the business are far beyond one's imagination. They need to make painstaking plans for shop renting, product supply and manpower before getting started. Each decision will affect the future development of the business, and they can only rely on their own.
Having all these in mind, one can hardly neglect the sad fact that rental in HK is extortionate across the globe. Even if the business blossoms, it is likely that the profit can hardly catch up with the ever-growing rents. If young people decided to embark on online business, the rental problem can be solved instantly. Nevertheless, what if these young passionate aspire to open a restaurant? They would have to face the tormenting issue that many time-honoured brands running business for years still see losses. The vast majority of entrepreneurs who would like to develop their personal interests into their careers often neglect the market demand, and many of them would fail as a result.
Despite the numerous difficulties in starting a business, entrepreneurs should have the courage, determination and perseverance to take risk in the first place. They have to be well-prepared and knowledgeable about the business they are going to undertake in order to grasp full chances to succeed with flying colors.Interested in this industry?