Po Leung Kuk launches first “Youth Entrepreneurship and Housing Support Services” to Support Entrepreneurship and Housing Needs of Youth in Creating a Close-knit and Vibrant Community
(22 February 2019, Hong Kong) High property rent in Hong Kong has often precluded many young people from having their own living space or starting their own business. Supported by Henderson Land Development Company Limited (“Henderson Land”), Po Leung Kuk rolled out the first-ever “Youth Entrepreneurship and Housing Support Services” to provide “Co-working” and “Co-living” spaces in Tai Kok Tsui at a well below market service charge. Young entrepreneurs can operate their startups at the shared business premises, and “cohabit” with other young professionals by taking up the additional rental housing option in the vicinity of the workplace. The scheme is expected to facilitate a co-learn, co-work and co-create culture whereby young people can expand their social network and bring vibrancy to the neighborhood.
The service targets of the two-year scheme are young entrepreneurs or artists aged between 18 and 40. In support of the service, Henderson Land granted tenancy to the Kuk at a nominal rent of $1, comprising of an 800-square-feet commercial outlet on the ground floor of Tai Kok Tsui Road, and a 900-square-feet residential flat at a nearby tenement building, to serve as the “Co-working” and “Co-living” spaces respectively. The “Co-working” space is divided into 6 retail units at a well below-market service charge, which allow young entrepreneurs in cultural and creative industries to pursue their business dreams; whereas the “Co-living” space offers 5 rooms to accommodate 5 to 7 young residents. Through the co-working and co-living lifestyle, young entrepreneurs can exchange ideas and share their experiences and knowledge in their business operation. For more information about the scheme, please refer to the Appendix http://www.poleungkuk.org.hk/images/stories/PDF/20190222engapp.pdf.
The trial operation of the “Co-working” space commenced at the beginning of this year. There are 4 young operators currently stationed at the shop, selling handmade items such as leather goods, exquisite goldfish ornaments, designer locks or fabric handicrafts. Anita, the young tenant focusing on fabric handicrafts business, has started working as a full time handicraft artist 5 years ago, and used to run her business in different weekend market stalls in the past, “Operating a physical retail store is way different from managing a temporary market stall. The knowledge acquired from resource planning to manpower arrangement will benefit me for life. The shop can also serve as a gathering place to meet my regular customers and friends, and helped me to attract new customers. The rent in Hong Kong is outrageously high, it’s impossible for handicraftsmen like me to have our own store without the support of the service.” In addition, the “Co-living” units are opened for lease from today, priority applications will be given to professionals in cultural and creative industries or art lovers.
Apart from offering shop and residential spaces, Po Leung Kuk also connects the youth with the community through its network and resources, which include organising various activities and workshops at the “Co-working” space so as to attract residents in the district and other interested individuals, as well as joining hands in promotion with other small outlets in the district, so as to raise popularity and cultivate a vibrant community. On the other hand, it will help our young people to extend their social network and accumulate capital.
At the opening ceremony of the shop space to mark the start of retail business today, Dr. Margaret W. L. CHOI, Chairman of Po Leung Kuk, expressed her heartfelt gratitude to Henderson Land for its continuous support to the Kuk and the youth, including the land granted for the Youth Oasis project, the $100 million generous donation for the PLK Headquarters redevelopment, together with this latest tenancy at a nominal rent. She also looked forward in the same way as the theme of the Kuk’s 140th anniversary - “embracing traditions and sparking innovation” to seeing this project bringing creativity and vibrancy to the traditional neighborhood of Tai Kok Tsui.
About Po Leung Kuk
Founded in 1878, Po Leung Kuk, as one of the largest charity organisations in Hong Kong, has been serving Hong Kong for 140 years with its objective of “Protecting the Young and the Innocent”(保赤安良). Currently, the Kuk has more than 300 units strategically located in Hong Kong and provides services in social welfare, education, recreation and cultural fields. We have more than 45,000 students in our schools and attend to more than 600,000 visits for services a year. For more information about Po Leung Kuk, please go to www.poleungkuk.org.hk.
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Email: queenie.ho@poleungkuk.org.hk