Hong Kong Housing Authority Supports Young Entrepreneurs, Brands Open Physical Stores

Hong Kong Housing Authority (HKHA), today organized '共築・創業家2.0' (Co-Build: Entrepreneur 2.0) event, offering a great opportunity for young entrepreneurs. The event brought together 35 young entrepreneur teams participating in the program to create a platform for them to showcase their products and share their experiences. This meeting was organized to revitalize the local economy and provide young business people with the opportunity to engage in physical trade.

Belle, a tenant participating in the program, stated that this initiative is a big step for her perfume brand, which has been in operation for about 10 years. Belle noted that high rental costs are usually the biggest obstacle for new entrepreneurs, but this support program has alleviated this burden. Although the idea of opening a physical store seemed risky before, she expressed that the necessary confidence was instilled in them to take this step thanks to the project.

Entrepreneurs emphasize that the project is not only economic support but also a moral 'booster'. Brand owners like Belle have had the chance to turn their brands into a tangible commercial asset thanks to low-cost shop rents. This support helps brands gain recognition not only in the local market but also in the international arena.

Among the products showcased at the event, Belle's perfume brand stood out by reflecting Hong Kong's famous 'Lion Rock Spirit' in its products. This cultural touch provided the brand with a local identity while successfully attracting the interest of foreign tourists and customers. Thanks to the project, the brand has been able to reach a global customer base through physical sales points, not just online sales.

Overall, HKHA's this initiative can be evaluated as part of its strategy to support Hong Kong's small and medium-sized enterprises (SMEs). In a city with high living and business costs, such incentives provided to young entrepreneurs contribute to the diversification of the local economy and the increase of employment. It is expected that this successful model will be further expanded in the future and adapted to entrepreneurs in different sectors.