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15 July 2015

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129,200 Enterprises Founded in 2018

2019-07-18 Download Print Comment
The 2018 Hunan Youth Entrepreneurship Analysis Report was released on July 16. It shows that in 2018, Hunan’s youths have high entrepreneurship enthusiasm. The number of young people investing in or establishing enterprises is 191,600, accounting for about 74% of the provincial total entrepreneurs. A total of 129,200 enterprises were established, accounting for 82.1% of the total start-ups in the province.
According to the report, the first-time youth entrepreneurs accounted for 66.9% of the total in 2018, an increase of 19.9%. About 78.7% of start-ups specialize in the service sector. Most young people prefer to start incorporated businesses, with a proportion of 91.9%. The growth rate of individual proprietorships and partnerships accelerated, with a year-on-year increase of 43.1% and 33.1% respectively.
Youth entrepreneurship contributes a lot to the high-tech enterprise growth in Hunan. The report says that 81.4% of newly-created high-tech manufacturing enterprises and 88.5% of high-tech service companies are founded by young people. Meanwhile, the young entrepreneurs began to focus on brand building and technological innovation. In 2018, the newly-added youth enterprises in Hunan Province had 978 authorized effective patents, an increase of 6.7% year-on-year; while the number of trademark applications reached 17,707, an increase of 21.6%.
This article is from Hunan Provincial Government.
Translator: Yu Jiangjiang
Chinese source: