Sino Group becomes the property developer to offer the greatest support for young entrepreneurs in the Housing Authoritys“Well Being·Start-Up 2.0 Programme”

To promote youth entrepreneurship, “Well Being·Start-Up 2.0 Programme” was launched by the Hong Kong Housing Authority to help young local entrepreneurs put their business ideas into practice in a reduced entry barrier environment and inject innovation into Hong Kong's retail industry.

The programme has garnered strong support from Sino Group, which is integrating the group’s resources to provide a flexible and supportive business environment for young entrepreneurs, enhance the diversified development of young people, and create mutual benefit and win-win outcomes for the business community, residents, retail tenants and the community.

Sino Group has assigned nine retail shops and one special retail space in its shopping malls to support the Programme, covering a total area of ​​approximately 7,000 square feet and accounts for 25% of the retail outlets in the entire Programme. This makes Sino Group the property developer to provide the largest number of retail outlets for the Programme.

To provide young entrepreneurs with more diversified entry options, these ten retail outlets are located in different districts across Hong Kong Island, Kowloon and the New Territories, including flagship shopping malls like TMTPlaza, Olympian City, Citywalk, China Hong Kong City, Island Resort Mall, One North and Shatin Galleria.

All retail outlets are equipped with basic facilities such as electricity supply, lighting and basic decoration to help entrepreneurs save initial costs and focus on product development and brand building.

Moreover, to further support youth entrepreneurship, Sino Group has launched two key measures. The first is to waive the base rent to reduce the financial burden in the early stages of entrepreneurship.

The second is to establish a flexible profit-sharing mechanism. In the initial stage of operation, a profit-sharing ratio is adopted and will be gradually adjusted when business achieves steady growth to ensure that entrepreneurs can adapt to the market. This aims to ease the financial pressure on entrepreneurs and encourage them to explore innovative business models and break through the traditional retail framework.

A keen supporter of the development of young entrepreneurs, Sino Group is committed to building a sustainable entrepreneurial ecosystem, according to Bella Chhoa, Director – Asset Management at Sino Group.

“By collaborating with the Housing Authority, Sino Group hopes to nurture more dynamic emerging enterprises in Hong Kong, as young people are the most creative and promising generation in society,” says Chhoa. “Through this Programme, we hope that young entrepreneurs can gain experience in real-life business situations and unleash their potential.”

She adds that Sino Group will formulate corresponding plans based on the features of the shops and review the results regularly, not only to ensure that it can effectively support the development of entrepreneurs, but also assist young people in transforming innovative ideas into solid businesses, and promote the development of Hong Kong's innovative economy.