The Hong Kong Housing Authority has introduced an initiative to encourage entrepreneurs under the age of 35 to start their own businesses by providing rent-free space.
The Wellbeing Start-Up programme will run for seven months from October this year to April next year and will provide 10 stores within the authority’s shopping centres.
Participants do not have to pay rent and receive basic store construction and marketing assistance. Stores are regularly inspected and, if profitable, authorities will take 20 percent of net profits to provide funding and support for the development of the program.
Housing Authority executive director and chairperson Winnie Ho said the programme aims to harness the innovative ideas of young people and provide a more diverse shopping experience for the local community.
“The Wellbeing Start-Up programme really helps young people kick-start their entrepreneurial dreams by providing them with rent-free, stable footfall and well-managed shopfronts,” Mr Ho added.
The program is accepting applications starting August 1st, and interested participants should submit their proposals by August 31st.
The authority will evaluate the proposals based on innovation, feasibility, market potential, social benefits, financial arrangements and team management and allocate suitable retail facilities to the selected applicants.
This month, Hong Kong also held an e-commerce festival to promote online shopping and retail sales.
