'HK entrepreneurs in Guangzhou need more help'
Think tanks on Thursday urged Hong Kong and mainland authorities to provide more assistance to young people from the SAR who start businesses in Guangzhou. The Hong Kong Coalition and the Our Hong Kong Foundation said that as of July 2023, there were 52 entrepreneurial bases in Guangzhou for young entrepreneurs from Hong Kong and Macau, with about 2,100 start-up projects underway.  A research team from the two groups visited two bases in the Nansha and Tianhe districts of Guangzhou and talked to about 10 Hong Kong entrepreneurs working in various industries there, including arts and culture, technology and catering.  The foundation’s assistant research director, Victor Kwok, said some Hong Kong startups there lack knowledge about the business environment and policies on the mainland. “There are gaps that we observe, such as the difference between the skills, knowledge, experiences and the network of the entrepreneurs and the actual requirements of actually having the business to prosper,” he said.  Kwok highlighted challenges arising from changes in rules and policies on the mainland.  “We all know comparatively in the mainland, the policy change is sometimes faster than what is observed in Hong Kong, and that could be a challenge, because sometimes you apply for funding and then the policy itself expires before you actually get the funding,” he said.  Kwok said a single, easy-to-use government application or website would be beneficial for entrepreneurs to keep themselves updated.  Incubators in Guangzhou should also be more proactive in assisting startups to apply for funding from the mainland government, he added.  The foundation and coalition also complained that all the entrepreneurial bases offer identical services. They said authorities should differentiate them based on the startups’ development stage or industry type, making it easier for entrepreneurs to connect with the right industry players.