Hong Kong’s Housing Authority launches rent-free shop programme for young entrepreneurs
- Government’s ‘Well Being・Start-Up’ initiative will give selected individuals, aged 35 or below, 10 shop spaces to test their business ideas
Hong Kong’s Housing Authority will offer 10 rent-free stores in government-operated shopping centres to young entrepreneurs in an effort to provide a platform to launch their business ideas and boost retail traffic.
The city’s major public housing builder on Saturday launched the “Well Being・Start-Up” programme to give individuals, aged 35 or below, the opportunity to run their businesses at 10 stores rent-free for seven months starting from October.
“The authority hopes to leverage the vitality and innovative ideas of young people to provide a more diverse choice of products and shopping experiences for the community,” Secretary for Housing Winnie Ho Wing-yin said at an event at a public housing shopping centre.
“[It will] bring foot traffic to shopping centres and achieve mutual benefits for both residents and commercial tenants.”
She added that the initiative would give young Hongkongers a leg up to pursue their entrepreneurial dreams.
The latest effort to tap into youth entrepreneurship was a measure to attract patronage in government-operated shopping centres and improve the occupancy rate.
In May, the government told the legislature that public housing estate retail sites recorded “a relatively high level” of vacancy rate in recent years, reaching 3.92 per cent as of April.