95% of Taiwanese want to be their own boss: Survey

Workers becoming less financially secure amid COVID-19 crisis

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Vendor wears face mask to protect against coronavirus as he cooks grilled pork buns at Taipei night market.

Vendor wears face mask to protect against coronavirus as he cooks grilled pork buns at Taipei night market. (AP photo)

TAIPEI (Taiwan News) — According to a new poll, 95 percent of Taiwanese have an interest in starting their own business amid the economic fallout of the coronavirus pandemic.

An overwhelming majority of young and middle-aged workers have dreamed of owning a business of their own. The former are driven by the desire to become an entrepreneur, while the latter would pursue the goal for the purpose of making money, according to a survey published by online job bank yes123 on Thursday (Oct. 15).

The figures are the highest in nine years and come at a time when workers are anxious about possible furloughs, layoffs, and gloomy pay raise prospects as a result of COVID-19, wrote UDN.

The most popular types of businesses on the minds of the labor force are those requiring relatively little skill, such as tea and coffee shops (39.2 percent), bakeries and patisseries (37.5 percent), and other types of eateries (36 percent) as well as enterprises related to art, design, and culture (26.8 percent) or clothes and accessories (25.7 percent).

However, only 34 percent of those polled have put their ideas into action, with an average investment of NT$880,000 (US$30,624). Yes123 spokesman Yang Tsung-bin (楊宗斌) cautioned that while the consumer industry is easy to tap into, the competitive market may see players failing in the end.

The online survey was conducted between Sept. 24 and Oct. 18 and collected 1,218 valid samples from a pool of respondents aged 20 and older. It has a confidence level of 95 percent, with a margin of error of plus or minus 2.81 percent.