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Hong Kong entrepreneurs are younger though don’t like technology, consult finds

Two-thirds of Hongkongers have skeleton to start a new business and turn self-employed, though a tip businesses that entrepreneurs wish to possess are still consumer-focused and not high-tech companies, according to a new study.

The Global Entrepreneur Survey, conducted by US-based web-hosting association GoDaddy, found that a businesses renouned with Hong Kong entrepreneurs are sell companies (26 per cent), services that consumers find profitable (17 per cent) and experiential services (16 per cent).

Combined, these 3 industries done adult about 60 per cent of respondents’ ideal companies to manage. More than 500 professionals were surveyed, including 201 tiny business owners from Hong Kong.

The statistics prominence Hong Kong’s desire towards a services-led economy, notwithstanding experts warning that Hong Kong might be lagging behind in technological developments and creation compared to some-more modernized economies such as Singapore or South Korea.

Additionally, usually 30 per cent of business owners would opt to “do it themselves” when it came to handling online businesses, compared to a tellurian customary of 56 per cent.

“In Hong Kong, some-more people rest on others to assistance them rather than adopting record themselves, building their possess website or handling their cloud services,” Roger Chen, GoDaddy’s clamp boss of Asia, said.

Thirty 8 per cent of Hong Kong respondents also felt that new technologies have negatively influenced their lives, such as causing stress.

Chen combined that he recommends business owners brush adult on their digital skills in sequence to stay rival in an increasingly technological world.

However, a consult also found that Hong Kong millennials, tangible as those aged between 18 to 30, tended to try into entrepreneurship progressing than a rest of a world.

Forty dual per cent of millennial entrepreneurs in Hong Kong had started their stream businesses while they were still students, roughly double a tellurian normal of 24 per cent. The figure is also aloft than that of Singapore, where usually 32 per cent of entrepreneurs were still study when they started their business.

“With some-more people selecting to turn entrepreneurs upheld by increasing informative acceptance and increasing palliate of record use, some-more millennials … in Hong Kong are looking to start their possess tiny businesses than ever before,” pronounced Chen.

GoDaddy’s consult also found that 87 per cent of baby boomers, tangible as a era of people aged between 51 and 70, designed to start their possess businesses in a subsequent decade. This means that a baby boomer era has a top inclination towards entrepreneurship, roughly quadruple a tellurian normal of 21 per cent.

However, Chen pronounced that this might be due to some-more baby boomers being laid off or carrying their hours reduced since of newer technology, so triggering them to pursue entrepreneurship in sequence to make a living.