Taipei--Most start-ups in Taiwan are retail related businesses, the Ministry of Labor said Tuesday in a report on entrepreneurship in Taiwan last year.
Up to 46.2 percent of the country's new entrepreneurs prefer retailing, while 21.6 percent favor dining or lodging services, which have relatively low entry requirements, including capital, the ministry said.
According to the ministry, 66 percent of the retail businesses in Taiwan require no more than NT$1 million (US$32,853) in start-up capital.
In recent years, an increasing number of people in Taiwan have been moving to start their own businesses, as regular jobs tend to have low entry level salaries, the ministry said.
It said 12.3 percent of the 422 start-ups in 2016 were launched by people in the 20-29 age group.
Source: Focus Taiwan News Channel