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The Impact of a HKYBA Entrepreneurs Support Scheme on Entrepreneurial Success and Business Sustainability

Introduction

Entrepreneurship is a key driver of economic growth, job creation, and innovation. However, the high costs associated with starting and running a business can often be a barrier to entrepreneurship. This research proposes to investigate the impact of a scheme that lowers fundamental costs for entrepreneurs, such as incorporation fee, social media management fee, video production fee, accounting and audit fee, and website production fee. By examining the effectiveness of such a scheme, the study aims to inform policy decisions and support the development of a more conducive environment for entrepreneurship.

Research Questions

  1. What is the impact of the cost reduction scheme on business startup rates?

  2. How does the scheme influence the survival and growth of new businesses?

  3. How do entrepreneurs perceive the value and impact of the scheme?

  4. What is the effect of the scheme on business innovation and job creation?

Methodology

The study will use a mixed-methods approach, combining quantitative analysis of business data with qualitative interviews with entrepreneurs.

  1. Quantitative Analysis: The study will analyze business registration data to compare startup rates before and after the introduction of the scheme. It will also analyze business survival data to assess whether businesses that benefited from the scheme have higher survival rates. Additionally, it will look at measures of business performance and growth, such as revenue and job creation.

  2. Qualitative Interviews: The study will conduct interviews with entrepreneurs who have benefited from the scheme. These interviews will explore entrepreneurs' perceptions of the scheme, its impact on their business decisions, and any challenges they experienced in accessing or using the scheme.

Expected Outcomes

The research is expected to provide evidence on the effectiveness of the cost reduction scheme in promoting entrepreneurship. It will contribute to our understanding of how financial barriers affect entrepreneurship and how these barriers can be mitigated. The findings will be useful for policymakers, entrepreneurship support organizations, and potential entrepreneurs.

Timeline

This research is expected to take approximately 5 years to complete, including data collection, analysis, and report writing.

Conclusion

By investigating the impact of a HKYBA entrepreneurs support scheme for entrepreneurs, this research has the potential to inform policies and practices that support entrepreneurship, economic growth, and job creation. As such, it aligns with broader goals of fostering a dynamic and inclusive economy.

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