Have you ever thought about being an entrepreneur in the future? The answer for a majority of undergraduate students may likely to be “no”. Nowadays, most graduates tend to seek a job in a casino, or in government offices. It seems that it is risky to start a business in such a small city. Nevertheless, the Macao government actually provides some opportunities for young entrepreneurs.

According to the Company Statistics Report by Statistics and Census Service (DSEC), in the first three quarters of 2012, a total of 2,822 new companies were incorporated, up by 11.6% year-on-year. The majority of new companies, 1013 of them are in the wholesale and retail business, 550 in the service industry and 356 in the real estate. This shows that more and more people are willing to start their business in Macao.

On November 13, 2012, Chui Sai On, the Chief Executive, delivered his Policy Address for the Fiscal Year 2013, stating that an interest-free loan policy would be set up for young entrepreneurs under the Industrial and Commercial Development Fund. The maximum amount is MOP300,000, and the reimbursement period is up to eight years. Beneficiaries of this plan are people aged between 21-35 years old.

Another way of trying to start a business in Macao is to participate in entrepreneurship competitions. In fact, there are quite a few organizations holding this kind of competition, both local and overseas. For example, the Inspirational Youth Association of Macao held an entrepreneurship competition last year. The winner would be awarded one million Patacas.

Another yearly entrepreneurship competition, InnoICT which is organized by the Macao New Technologies Incubator Centre, and provides opportunities for innovative individuals to develop new businesses in the field of technology. They would provide office space, funds and professional assistance for applicants. The competition participants need to submit a proposal and try to run their business. The winner will be awarded a start-up amount to continue their business.

Kelvin Cheung, president of the Entrepreneurship Society of University of Macau, is enthusiastic to start a business after graduation. He has participated in different kinds of entrepreneurship competitions since he was in high school. He joined the Macao Shopping Festival held in The Venetian Macao. “The sponsor provides us a stall. We didn’t need to pay for the rent,” said Cheung. “We could focus on our stock and promotion strategy.” In addition, he joined the Lunar New Year Fair this year. “It was the third time for me to join this event,” he said. “We need to practice more in order to be a successful entrepreneur.”

More and more organizations in Macao are providing entrepreneurial opportunities to encourage people to get into this field. If there’s a possibility, one should try. Macao still has its commercial potential to start new businesses.