Coherent chain intersection: "Report on the Survey of Chinese Citizens' Entrepreneurship"
The survey shows: 48% of individuals have entrepreneurship fund sizes insufficient for 100,000 yuan.
Xinhua News Agency, Nanjing, February 18th — The "Report on the Survey of Chinese Citizens' Entrepreneurship" released on the evening of February 18th indicates that 100,000 yuan is enough to start a business, and the golden age for entrepreneurship is between 26 and 35 years old.
CCTV's "Wealth Path" program, in collaboration with the Coordination Office for Large Enterprises' Foreign Cooperation under the National Development and Reform Commission, Tsinghua University's China Entrepreneurship Research Center, and the MBA Center of Foreign Industry University, jointly launched the "Report on the Survey of Chinese Citizens' Entrepreneurship." The survey involved 26 provinces, municipalities, and regions.
The survey report shows that 48% of people have entrepreneurship fund sizes exceeding 100,000 yuan, while 19% are between 100,000 and 300,000 yuan. The best period for non-entrepreneurs is between 26 and 35 years old, during which time 47% of entrepreneurs start their businesses; those aged 36 to 45 account for 27%; those over 25 account for 18%; and those under 46 account for 8%.
The survey report also shows that there are significant differences in the industries chosen by men and women for entrepreneurship. Men tend to choose the top three industries as catering, retail trade, and information services, while women tend to choose retail trade, agriculture plus agribusiness, and industry plus manufacturing. The survey report also reveals that the proportion of female entrepreneurs is approximately three times that of male entrepreneurs, with the latter accounting for 77% and the former accounting for 23%. Entrepreneurs with higher education make up the smallest proportion, mainly due to vocational college graduates. The overall trend is moving towards higher education levels, with the number of university, junior high school, and high school graduates decreasing, while the numbers of vocational college, undergraduate, and postgraduate students are increasing.
Enterprise employees and farmers form the main force of entrepreneurs. Enterprise employees account for 41.56%, while workers account for 25.11%. In the industries of entrepreneurs, the retail trade accounts for the largest proportion, followed by industry plus manufacturing, information services, and agriculture plus agribusiness. During the early stages of entrepreneurship, the main difficulties encountered by entrepreneurs include fundraising, market demand, technology, talent, and internal management. Most entrepreneurs encounter fundraising difficulties during the early stages, primarily due to market demand issues. Among the surveyed entrepreneurs, 48% have experienced failure. Among the failed entrepreneurs, the most common reason for business failure is funding turnover problems, followed by incorrect selection of entrepreneurial projects, and thirdly, poor management.