The cutting edge of capitalism: The Entrepreneur
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.IN CHINESE slang, it is known as xia hai, literally 'going down to the sea', the colloquial euphemism for leaping into the rising tide of private business.
In early 1990, Chen Xiaozhang and a former classmate broke out of China's state sector and set up South China Marketing Research (SCMR), a private market research company in Canton catering to the needs of foreign joint venture companies keen to sell their products into China's vast market. SCMR employs nearly 100 full-time staff, makes annual profits of about pounds 50,000 and offers a range of services unheard of a decade ago in China - from market-testing new products to studying advertising impact.
While government offices still tend to be dirty places blighted with regulation green paint, the SCMR premises are bright, white and clean. Everything is geared towards efficiency; Mr Chen shuns an office car in favour of his motorbike, which beats the Canton traffic more effectively.
Mr Chen, born in 1958, and an early graduate of the Business College of Canton, is one of China's new-style private entrepreneurs. His original cash investment of 100,000 yuan (pounds 8,400) came from savings and money borrowed from friends and relatives. The two founders own 80 per cent of the company, the staff owns the rest.
He talks cautiously about the benefits of going private: 'After we make profits, we can own or dispose of the assets. And I can pay the employees as I like; in the state-owned company I could not pay good people well or sack bad people.' His own salary has jumped from 500 yuan (pounds 42) a month to 2,000 yuan 'but there is no time to spend the money.' The average monthly staff salary is 1,000 yuan, well above the level in the state sector.
A serious man, the only time he appears irritated is when asked what he enjoys most about being an entrepreneur. 'We just feel very happy when we see the company succeed. We don't have feelings like Western people - like wanting to be called 'boss' or own a house, for instance.'
(Photograph omitted)
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments