Despite the higher chances of startups failing, some young entrepreneurs have managed to survive and grow.
CCTV’s Tao Yuan caught up with one who created her own fashion brand.
More Chinese university graduates starting their own businessDespite the higher chances of startups failing, some young entrepreneurs have managed to survive and grow. CCTV’s Tao Yuan caught up with one who created her own fashion brand.
Li Chenchen has just graduated from southwest China’s Sichuan University with a master’s degree in fashion design.
Like any aspiring designer, Li Chenchen establish her own brand and opened up this shop which specializes in leather goods.
She’s one of an increasing number of graduates who are choosing to start their own business, rather than find a job.
But like many, she also understands the frustrations.
She wanted her store to be in a big shopping mall. To afford the rent and to fund other initial start-up costs, she had to borrow 300,000 yuan, or about $45000s.
For a student, that’s a lot to pay back.
However, her business has turned out to be a success. It’s not a massive hit yet, but enough to ensure a comfortable life in a big city. With the experience, Li Chenchen opened up a second store, this time through a university initiative.
For Li Chenchen, it’s also a dream come true.
Dan McClory on China’s push to establish more startups
For more insight into this phenomenon, CCTV America’s Michelle Makori spoke to Dan McClory, managing director and head of China at Bonwick Capital Partners.