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Young self-starters get business help
By Xu Wenwen |
November 23, 2009, Monday
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Print Edition
Print Edition
YOUNG college graduates starting a business are getting a big helping hand from the Hangzhou municipal government.
It is enacting policies and giving incentives and subsidies that encourage young people faced with a tough job market to start their own business.
One example is the Hangzhou Saibo Venture Park that attracts grads who are starting up their first business. It's also open to enterprising college students.
Supported by the government, it gives these entrepreneurs free office rental for two years, professional instruction in running a business and venture capital to innovative ideas.
These "zero threshold" measures apply to every Chinese who graduated after 2005.
"Only a zero-threshold approach can solve big problems," says Hangzhou Mayor Cai Qi.
The Saibo Park, designed for 1,000 enterprises, now has 408 tenants, including 214 enterprises founded by graduates and around 100 founded by current undergraduates.
Preferential policies mean that every new boss who opens his or her first company in Saibo gets 50 square meters of space rent free for the first two years.
Though Saibo is affiliated to a private enterprise, the Zhejiang Boffo Group, it is the city's first enterprise park so far and the first business concern to respond to the city government's call for "low-threshold" help to fresh entrepreneurs. Now the low threshold is no threshold.
Liu Bangfeng, board chairman of Boffo Group, explains: "In the process of getting tenants, we discovered that graduates entrepreneurs are full of innovative ideas and willing to start businesses in our park because of comparatively low rental. So we just canceled the rent and began to cultivate and invest in them."
Saibo staff help fresh bosses in getting business licenses, providing convenience and giving advice.
"I'm glad that I started my business in Hangzhou. This city facilitates the work of graduate entrepreneurs more than any I have seen," says Liu Yongsheng, CEO of www.showcan.com.
He cited the benefits of saving on rental cost, free access to job fairs and a 50,000-yuan (US$7,320) venture capital from the Hangzhou government.
"I've never thought there could be so many favorable measures," Liu Yongsheng says.
Free instruction given by mature entrepreneurs is another highlight in Saibo.
Lin Dong, chairman of Greenfull Group, is one of the instructors. In April Lin helped 12 graduates launch the Hunter Beef Restaurant on Wulin Road.
The young people, in their early 20s, majored in finance, management and business but with Lin they saw their imaginary business plans fall apart, they toiled for 72 hours nonstop and brainstormed with Lin to come up with better plans.
The average monthly turnover of the restaurant reaches 20,000 yuan and a new outlet of Hunter Beef Restaurant just opened on Tiyuchang Road.
"It's a safe trip with protection," says Zhu Kai, one of the 12. "Lin's guidance is vital to our achievement, which is different from the one gained by conquering difficulties. We still need practice to toughen up."
It is enacting policies and giving incentives and subsidies that encourage young people faced with a tough job market to start their own business.
One example is the Hangzhou Saibo Venture Park that attracts grads who are starting up their first business. It's also open to enterprising college students.
Supported by the government, it gives these entrepreneurs free office rental for two years, professional instruction in running a business and venture capital to innovative ideas.
These "zero threshold" measures apply to every Chinese who graduated after 2005.
"Only a zero-threshold approach can solve big problems," says Hangzhou Mayor Cai Qi.
The Saibo Park, designed for 1,000 enterprises, now has 408 tenants, including 214 enterprises founded by graduates and around 100 founded by current undergraduates.
Preferential policies mean that every new boss who opens his or her first company in Saibo gets 50 square meters of space rent free for the first two years.
Though Saibo is affiliated to a private enterprise, the Zhejiang Boffo Group, it is the city's first enterprise park so far and the first business concern to respond to the city government's call for "low-threshold" help to fresh entrepreneurs. Now the low threshold is no threshold.
Liu Bangfeng, board chairman of Boffo Group, explains: "In the process of getting tenants, we discovered that graduates entrepreneurs are full of innovative ideas and willing to start businesses in our park because of comparatively low rental. So we just canceled the rent and began to cultivate and invest in them."
Saibo staff help fresh bosses in getting business licenses, providing convenience and giving advice.
"I'm glad that I started my business in Hangzhou. This city facilitates the work of graduate entrepreneurs more than any I have seen," says Liu Yongsheng, CEO of www.showcan.com.
He cited the benefits of saving on rental cost, free access to job fairs and a 50,000-yuan (US$7,320) venture capital from the Hangzhou government.
"I've never thought there could be so many favorable measures," Liu Yongsheng says.
Free instruction given by mature entrepreneurs is another highlight in Saibo.
Lin Dong, chairman of Greenfull Group, is one of the instructors. In April Lin helped 12 graduates launch the Hunter Beef Restaurant on Wulin Road.
The young people, in their early 20s, majored in finance, management and business but with Lin they saw their imaginary business plans fall apart, they toiled for 72 hours nonstop and brainstormed with Lin to come up with better plans.
The average monthly turnover of the restaurant reaches 20,000 yuan and a new outlet of Hunter Beef Restaurant just opened on Tiyuchang Road.
"It's a safe trip with protection," says Zhu Kai, one of the 12. "Lin's guidance is vital to our achievement, which is different from the one gained by conquering difficulties. We still need practice to toughen up."
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