White-collar workers setting up stalls become popular; “Setting up a stall will cost a lot of energy, which will affect a person’s original career”

White-collar workers setting up stalls become popular

By Lu Na (China.org.cn)

08:08, June 06, 2013   

Various kinds of street vendors are helping the city become more dynamic; and moreand more white-collar workers are now part of this group of small retailers. According to a recent survey by China Youth Daily, about 79.2 percent of 1,891interviewees said they saw white-collar workers setting up street stalls. Besides, 68.1percent said they supported this initiative. About 35 percent of interviewees come from big cities, 29.5 percent, from midsizedcities, 19.8 percent, from small cities, 11.5 percent, from counties and 3.8 percent, fromthe countryside.
Mr. Wu who comes from Henan province, Central China, has lived in Shenzhen for 15years. He is now an engineering research and development manager in a company.Although he earns more than 10,000 yuan (US$1,629) per month, he has been settingup street stalls for eight years.

“The street in front of my house is crowded with various kinds of stalls at night. I sellclothes, snacks and fruits,” said Mr. Wu. “When business was good, I could earn about5,000 (US $814.5) to 6,000 yuan (US $977.4) a month.”

He said a white-collar worker setting up stalls is very common in Shenzhen.

“It will cost millions to buy a house. If you rent a house, you have to pay an expensiverent too,” said Mr. Wu. “Besides, I have to pay for my child’s remedial class fees andliving expenses. It would be very tight if I depended on my salary.”

A young lady, Sun Jingjing, shares her experience with setting up a stall. She is areceptionist in an information technology company in the Haidian District of Beijing.

“As a stall owner, I can choose goods and decide prices myself. It feels so great,” shesaid.

Although setting up a stall is a small business, vendors can make their own decisions.

As for the reason behind setting up stalls, 69.6 percent of interviewees said it couldincrease their incomes.

Tang Mengjuan, a career-planning columnist for www.abang.com said incomepolarization among white-collar workers is very serious. The income of primary white-collar workers is very limited. Living in cities force them to try to increase their income.

Young workers, who set up stalls, want to be free, pursue their own dreams, or try analternative lifestyle.

However, it is not easy.

“I can’t rest during weekends because I have to go very far to purchase goods,” said MrWu, who decided to rent a store with friends. “Besides, I have to hide from cityinspectors.”

Sun Jingjing encountered problems too. Her business is not as profitable as beforebecause there are more competitors. She also has less time to rest. Although having a”double career” is exhausting, she doesn’t want to give up her “entrepreneurial dream”.

“Setting up a stall will cost a lot of energy, which will affect a person’s original career,”Tang Mengjuan said. “If people find that they can’t balance two careers, they have tomake a choice. If it is good for their future career goals, they should continue.”

Unknown's avatarAbout bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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