On 7 November 2024, the Faculty of Business Administration (FBA) hosted the “FBA Outstanding Alumni – GBA Entrepreneur Seminar Series” featuring Alumnus Steven WANG, the Best CSR Award winner of the 5th Guangdong-Hong Kong-Macao Greater Bay Area (GBA) Outstanding Young Entrepreneur Award Ceremony, president of Blue Angel Investment Co., Ltd. The event, themed “Success in Entrepreneurship: Strategies to Increase Success Rates,” was aimed at equipping students with essential insights into navigating the entrepreneurial landscape.
Graduating from the University of Macau in 2010 with a major in marketing, Mr. WANG has successfully ventured into various industries, including advertising media, marketing planning, engineering construction, food and beverage retail, and sports equipment sales. Drawing from his extensive experience, he shared innovative strategies designed to enhance success rates for entrepreneurs facing today’s challenges.
In his engaging lecture, Mr. WANG emphasized the critical nature of selecting the right industry and entrepreneurial direction. He highlighted that the initial decision to start a business is foundational to future success, revealing that the success rate of first-time entrepreneurs is a mere 18%. However, he noted that after approximately seven attempts, this rate can rise to over 50%. “Entrepreneurship is a marathon,” he stated, urging students to continuously enhance their ability to diversify and manage pressure.
Mr. WANG also stressed the importance of understanding and managing risk within Macau’s dynamic entrepreneurial environment, which offers unique opportunities and supportive policies for business growth. He underscored that balancing creativity with structured business planning is vital for thriving in a competitive market.
As the National President of Junior Chamber International Macao, China (JCI Macao) for 2024, and a member of the Nanning Municipal Committee and the Shanghai Pudong District Committee of the Chinese People’s Political Consultative Conference (CPPCC), Mr. WANG encouraged aspiring entrepreneurs to actively engage with local policies to enrich their business knowledge. He believes that entrepreneurship is not only a driver of economic growth but also plays a crucial role in community development.
Looking to the future, Mr. WANG advised students to cultivate robust networks and embrace innovation as critical components for maintaining a competitive edge in the global market. He urged his peers at the University of Macau to participate in broader socio-economic platforms to maximize their impact and contribute meaningfully to society.
The seminar concluded with an interactive Q&A session, allowing students to gain further insights from Mr. WANG’s wealth of experience and encouraging a vibrant discussion on entrepreneurship in Macau.
Source: FBA
