Full Report - Center for Entrepreneurship - CUHK

Feb 6, 2017 - In mid-2016, 9.44% of Hong Kong adult population .... businesses fell into the domain of those with some ... stage entrepreneurship rates among the highest income ...... in Shenzhen, the hosting of entrepreneurship forums.
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Report by Marta K. Dowejko & Kevin Au HONG KONG TEAM

SHENZHEN TEAM

Kevin AU / CUHK

DONG Xiaoyuan

Brian CHAN / KPMG

LI Zhaohui

Marta K. DOWEJKO / HKBU

LIAO Mingzhong

Alfred TAN / HKBU

LIU Hongjuan

Jie Jun KONG / NENU

REN Jun

Cheung-kwok LAW / CUHK

SHI Jie

Michael FUNG / CUHK

TANG Xiaofeng

Michael LEUNG / CUHK

WANG Weili

Ting-hin YAN / CUHK

YANG Liqing

Tony XIAO / CUHK

YUAN Yicai

HONG KONG and SHENZHEN Report 2016

STUDY CONSORTIUM Center for Entrepreneurship, The Chinese University of Hong Kong School of Business, Hong Kong Baptist University Centre for Asian Entrepreneurship & Business Values, The University of Hong Kong Shenzhen Academy of Social Sciences Savantas Policy Research Institute

EVENT SPONSOR KPMG (HK) / 深圳市宣傳文化事業發展專項基金 / HKX Tech Startup Platform

Hong Kong, February, 2017

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Report by Marta K. Dowejko & Kevin Au Co-organizers Center for Entrepreneurship, The Chinese University of Hong Kong School of Business, Hong Kong Baptist University Shenzhen Academy of Social Science Centre for Asian Entrepreneurship and Business Values, Hong Kong University

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Executive Summary Prevalence Rates of Entrepreneurial Activity

Interestingly, in Shenzhen the same proportion of individuals who declared they possessed necessary skills and knowledge to do so (35.8%), also reported their

All types of entrepreneurial activities recorded an increase

intention to start a business in the next two years (36%).

in both cities, which is a sign of a growing economy

One explanation may be that the opportunities emerging

and of the revival of entrepreneurial spirit of Hong Kong

from the economy are much more salient than the fear

and Shenzhen.

of failure.

In mid-2016, 9.44% of Hong Kong adult population

Successful entrepreneurs are also regaining their high

was engaging in early stage entrepreneurial activities

status and are promoted by local media in Shenzhen and

of any kind. This represents a large increase from 3.64%

Hong Kong. In Shenzhen, respondents were reporting a

reported in 2009 and significantly reverses the previously

culture that is very supportive of entrepreneurship, to a

recorded slump in entrepreneurial activity of Hong Kong

greater extent than in Hong Kong.

resulting from the global economic crisis. This is driven by the nascent entrepreneurial activity of Hong Kong adult

Cultural conditioning and attitudes towards

population, which grew +206% since 2009. In Shenzhen,

entrepreneurship, perception of own skills,