The majority of young Taiwanese remain interested in running their own business as a career option, according to an annual survey by 1111 Job Bank, with the results similar to last year’s findings.
The poll found that more than 76 percent of young Taiwanese have either already started their own business or would like to do so, a slight increase from 75 percent last year.
The food industry was the most popular choice, with nearly 91 percent of respondents who indicated they wanted to run their own business saying that they are interested in selling street food or local dishes, while 20 percent said they want to open a restaurant or dessert shop, and nearly 18 percent showed interest in a brunch cafe.
However, while most young Taiwanese find entrepreneurship an attractive option, only a small percentage are actually in business (4.46 percent), have tried it before (3.18 percent), or are about to do so (7 percent), the poll showed.
The survey found that 61.46 percent of those interested in starting their own business have not yet put their ideas into action, while 60 percent who have tried failed to turn a profit.
In terms of start-up investment, young Taiwanese have put an average of NT$633,500 into their own business, with 78 percent raising their own funds, while 24 percent were funded by family and friends, and 27 percent took out loans from the Small and Medium Enterprise Administration, the poll found.
Most young people are interested in entrepreneurship because they think it will bring self-satisfaction and a higher-than-average income, it showed.
The survey found that 55.6 percent of young Taiwanese who run a successful business earn an average of just more than NT$50,000 per month.
Entrepreneurship is a popular idea among new graduates in Taiwan, because they are unlikely to earn more than NT$31,103 per month in a regular job, 1111 Job Bank vice president Ho Chi-sheng (何啟聖) said.
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