Students' business street fails to spark
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Thirty-four stores opened in August on the students' business street in Hefei City, eastern China's Anhui Province, but only 15 still remain open for business.
More and more Chinese graduates are considering self-employment after graduation, with some even starting their business while studying.
In August 2010, Hefei Hupo neighborhood management office founded a students' business street near Anhui Agricultural University, providing free stores, business guidance and risk evaluation for graduates with the requisite skills and interests.
Graduates and the local government talked very positively about the street to begin with.
"We had more than 100 students who wanted to register when the street opened," said Zhu Yanfeng, deputy director of Hupo neighborhood management office.
Zhu said the government has invested 120,000 yuan (about 18,000 U.S. dollars) to help install store facilities.
The initial enthusiasm soon evaporated though. Two months after the street opened, stores were vacant and shoppers no longer wanted to visit it at night.
"Now fewer and fewer students come to the street, we are so disappointed," said Zhu.
The street's dismal performance should not have been totally unexpected as other such programs in China to assist students develop business have likewise floundered. Two other students' business streets and a business practice base in China have previously failed.
"I spent 500 yuan to purchase clothes, but I cannot sell most of them," said Wu Yanjun, who has closed her clothing store on the Hefei City street.
Wu said she had always looked forward to running a clothing store, and she was sad she could not make the business work.
Wu's lack of bargaining experience meant she paid more for her clothes than neighboring stores.
"I ran the store at a loss. I had no idea and had to give up," she said.
Although the street has many stories like Wu's, there is one notable exception.
Xu Liuyang's shop did not make a profit at the beginning but his jeans sell very well now, and he can make more than 100 yuan each day.
"Girls in my university want to buy my jeans," Xu said proudly. "I will create my own brand next year."
Another possible success story is that of Gan Zhengquan who, without the help of the local government, has created an online store -- as well as his one on the street.
Gan sells popular and good quality electronic products online, which helps his sales revenues as he does not only have to wait for customers to buy goods from his physical store.
The purpose of the street was never just about encouraging students to make lots of money from their stores, said Zhu Yanfeng.
Cai Jingmin, president of Hefei University, suggests that graduates should apply what they have learned at university to their business.
Graduates will make mistakes when they start business without experience, said Zhu Yanfeng.
"Although students here may succeed or fail, we just hope they can gain experience which will be helpful to their future enterprise," Zhu added.
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