The Ministry of Education recently announced that from January 1, young start-ups can get tax rebates of up to 8,000 yuan per year in their first three years of operation. It’s certainly a good time to go into business for yourself.
Zhang Fuhong, director of a training center for young entrepreneurs in Wuhan, claims that new businesses can enhance their chances of success by coming up with great ideas and selling points. “Young companies know their peers’ lifestyles. The start-ups’ own needs can become the future market’s ones,” said Zhang.
Here, we invited five young start-up founders to share their ideas in the four trendy areas: They believe that finding a niche market is important to success.
The number of micro-bloggers in China keeps increasing. The rapid information-spreading potential has inspired our young businessmen.
Huang Tiantian, 21, a sports training student from Huazhong Normal University. Owner of Mary Box boutique in Wuhan.
Huang T: I want to start an object hunting business. If you spot someone wearing a dress you like, take a picture of it and post it on our micro blog. This will cost one “micro blog coin”, a virtual currency which users need to buy first with hard cash. The first follower who is able to locate the dress earns the coin.
Micro Blog, the first news magazine based on micro blog in China, will debut in March 2011. The magazine uses micro blogs as news clues and develops them into in-depth stories.
The popularity of TV dating shows brings the topic of “leftover singles”, or men/women who remain single in their 30s, into the spotlight. Some of them are eager for romance, while others enjoy being single. Here are some ideas to meet their needs.
Hu Junchao, 23, a geographic information system graduate from Sun Yat-sen University. Founder of Muu.com.cn, an original comics sharing website in Guangzhou.
Hu: I want to offer break-up advisors for women. I think the word “leftover” comes from the misconception that women are always the ones left on the shelf. Our company will teach women how to break up with a tough and dignified attitude. Later, if they like, they can join our club to search for their Mr Right.
The partner-seeking website Jiayuan.com has launched a service where “headhunters” find potential partners for clients. It costs from 20,000 to over 100,000 yuan, depending on how complicated the requirements are.
Traffic jams during rush hours are a growing headache for many commuters. But travelers’ anxieties might also create business opportunities.
Huang Zixi, 24, an international trading graduate from Shanghai International Studies University. Founder of Koraku Blue denim collection in Guangzhou.
Huang Z: I want to offer rapid food delivery to drivers stuck in traffic jams. Our company will set up food stands at each end of traffic jam black spots. Drivers call and tell us where they are, and our dispatchers will roller-skate their food to them.
As reported by Jinan Times, drivers in Jinan can now pay people to wait in the jam for them. Two people will arrive by motorcycle within 15 minutes of the driver’s call. While one person waits in the jam, the other takes the driver to their destination by motorcycle.
More people are choosing to stay in rather than go out. They are known as “Otaku (御宅族) ”in Japan, whose lives are spent largely online. Meeting their needs can mean rich pickings for new businesses.
Huang T: I want to open a cosplay housekeeper company. Few Otaku spend time cleaning their rooms. Because they are fans of animation and comics, we send housekeepers dressed as Loli and Sister Yu (御姐) to Otaku boys’ homes, and those dressed as Syoutar ou (正太) to Otaku girls’ homes.
Londoner Josh Magidson sold the website he set up at university for 500,000 pounds (5,600,000 yuan). The website, Eatstudent.co.uk, allows students to view local takeaway menus and order food to be delivered to dorms.