Support for entrepreneurship bears fruits in Huangyan
chinadaily.com.cn | Updated: 2021-03-10Print Print
A training session for young entrepreneurs by the Huangyan Youth Business Incubation Park in Taizhou, East China's Zhejiang province. [Photo/taizhou.com.cn]
Taizhou's Huangyan district has recently emerged as a haven for entrepreneurs thanks to its slew of preferential policies.
For example, the Huangyan Youth Business Incubation Park has incubated more than 200 startups in the past eight years. In 2020, the park was designated a national level makerspace, the first park from Taizhou to win the honor.
Entrepreneurs in Huangyan are entitled to a variety of preferential policies including subsidies for office rental and loan interests as well as free services such as entrepreneurship training.
To help young entrepreneurs tackle financial difficulties, local authorities have set up a special fund by partnering with local banks, allowing applicants to apply for a maximum loan of 1 million yuan ($153,846). In 2020, a total of 22.7 million yuan in loans were given out, official data show.
In addition, the district has established an alliance to provide young entrepreneurs guidance in starting a business.
Mushangyixin Brand Design Co Ltd is a startup located in the Huangyan Youth Business Incubation Park. Due to the comprehensive support provided, the company's revenue surpassed 2 million yuan in less than two years, said the company founder Zhu Fu.
A training session for young entrepreneurs in the Huangyan Youth Business Incubation Park in Taizhou, East China's Zhejiang province. [Photo/taizhou.com.cn]