, Hong Kong
157 views
/Unsplash

More Chinese, HK next gens set up ventures outside of family businesses

PwC said 20% of Hong Kong NextGens have their own businesses.

Over 20% of Hong Kong and Mainland Chinese NextGens are keen to have more of a business mindset outside of their family business, PwC said in its report.

This as 28% of Mainland China NextGens and 20% of Hong Kong Next Gens are more likely to establish their own entrepreneurial venture outside of family businesses. These are higher than the global average of 12%.

Currently, 54% of NextGens are involved in leadership roles in Hong Kong. 

Business survival is also top priority for Chinese NextGens in the next two years, followed by adopting new technologies.

“In order to ensure long-term growth, family businesses should embrace digital transformation as it is the preferred experience for a third of customers,” said PwC. 

The analyst further pointed out that digital proficiency and capacity should be businessmen’s focus to transform existing family business or setting up new businesses with or without family financial support.

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Managing conversations to increase conversions
Enterprises that used chat management platform, imBee, saw a 25% increase in sales. 
Where to invest your millions in real estate
Realtors cited two property types that can offer higher upside potential in return.
Property market ends downcycle 
Real estate expert, Cathie Chung, said that the market will have a reset by 2023.
No spacious homes for Hong Kong’s poor anytime soon 
Home size adjustment will be unlikely in the city after the waiting time for public housing hit a record-high.