2020
Journal Article
Economics and Business Development › Family Businesses and Business Mentalities
Zheng, V., & Gao, H. (2020). Role of Family in Entrepreneurial Endeavour and Business in Hong Kong: Implications of Declining Fertility. Journal of Contemporary China, 29 (124), 585–597. https://doi.org/10.1080/10670564.2019.1677366
Chinese Family Businesses Entrepreneurship Fertility Hong Kong
Abstract
Through the theoretical lens of the family as a breeding ground for new business, this article argues that the drastic and prolonged decline in fertility affects business creation. Since entrepreneurship is a high-risk endeavour, and during the start-up or expansion period, various kinds of resource support from family are badly needed, the small family is in an unfavourable position. By using qualitative research data obtained in Hong Kong, this article unravels the possible interplay among the factors of continuous fertility decline, shrinking family human resource support and sibling network, and ultimately diminishing entrepreneurship. It argues that if fertility keeps declining, not only could entrepreneurial activity remain low, but momentum for sustaining economic development might also become weak and feeble.