The Growing Appeal of Individually Owned Businesses

U PON graduating from college last July, Huang Xiaoming leased a booth at Tianyi, one of Beijing’s largest wholesale markets, thereby taking the plunge into private business. This enterprising 22-year-old’s decision was based on experience in the trade learned from his father and his ob- servations as a student. He recalls: “I was always looking around for novelties and gifts in Tianyi. Having seen what a large turnover stallholders there make, I see no reason why I shouldn’t make mon…

The Growing Appeal of Individually Owned Businesses