by Getty Images via DaylifeThirty years ago has opened its economy, but for entrepreneurs the main problem is still the same, access to capital, says China’s rich list maker Rupert Hoogewerf in an interview with the leading German newspaper Die Sueddeutsche.
“All rich in China have founded their own firms,” Hoogewerf says. “Unlike Europe and the US where you would have family firms that have existed for generations. And most of them started to collect money at home in ten-yuan pieces (euro 0.90), the largest denomination at the time. Access to capital is still very important to start a business in China, as important as having a smart business idea.
Innovation is going to be one of the key success factors for the future, he adds. “Copy cats are no longer enough in the future.”