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Lunar New Year:
A Time To Try Entrepreneurship

The Lunar New Year symbolises new beginnings and the hope for prosperity. Happy and festive as it is, this holiday season happens to also be the perfect time for aspiring entrepreneurs to earn practical, low risk business experiences. Where you ask? In the bustling CNY Market, of course!

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Ambrose A.

Editor in Chief

About the author

Hey there! My name is Ambrose and I'm currently based in Macao, working at a bank but very passionate about community building, public speaking, sustainability, and marketing. I hold a Bachelor’s in Business Administration (Marketing) from the University of Saint Joseph Macao, in which I spent two fruitful semesters at the ISCTE-IUL in Lisbon, Portugal.

I actively contribute to non-profit organisations, including the Macao Startup Club and other nonprofit youth groups, driving community engagement and innovation.

Feel free to connect with me via the below links! ✌🏽

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So, the holidays...

The Lunar New Year, more commonly referred to as the Chinese New Year (CNY) here, is an important festival in many Asian cultures as it marks the arrival of spring and the start of a new lunar calendar year. 

In Macao, one would not want to miss out on the bustling CNY Market (農曆新年年宵市場 or 花市), an equivalent of the quintessential Christmas Market of the West, where a variety of booths run by vendors offering everything from traditional snacks to festive decorations, and auction for discounted prices on CNY Eve. This year's CNY Market was held at the Tap Saec square, known for its heritage and geographic proximity to various UNESCO sites.

 

It just so happens that this market also serves as an ideal platform for young entrepreneurs, especially university students, to get a taste of running a business.​​

A productive holiday

Setting up a booth at the Market is a great way for aspiring business persons to "test the waters" for a relatively affordable price. As per tradition, this year's CNY Market also saw a public booth bidding, held at the Municipal Market Complex of Patane (沙梨頭街市市政綜合大樓). According to official data, some 75 applicants competed for 20 Gift Booths, 6 Flower Booths, and 4 Snack Booths, seeing a 9.64% negative growth in total number of applications (75 for 2025 vs. 83 for 2024).

Pic 1. Image of the CNY Market 2025 (Source: Macao Special Administrative Region Government)

Pic 2. Results of the public bidding for the Fair stalls, segregated into three core product categories: CNY Gift, Flowers, and F&B. The highest costing booth is the F6 booth in the Flower Stall Area. 

Key Insights

from the New Year Fair booth bidding
  • Gift Booths:

    • Six Booths sold at the base price of 5,000 MOP, while another six booths went unsold and were returned to the municipal authority.

    • This marked a significant drop from last year's highest price of 18,000 MOP and lowest of 6,500 MOP.

    • Bidding prices ranged from 5,000 to 10,000 MOP, with a cold response.

  • Flower Booths:

    • The highest price for flower booths was 25,000 MOP, with a minimum of 5,000 MOP, also down from last year's highest of 27,500 MOP and lowest of 14,000 MOP.

  • F&B Booths:

    • Bidding prices for F&B booths fell between 7,500 and 8,500 MOP, slightly lower than last year's average of 8,500 MOP.

CNY Market Booth Price Index MSC.png

Pic 3. Results of the public bidding for the booths. The highest costing booth is the F6 booth in the Flower Stall Area. 

The bidding prices for booths at the Tap Saec CNY Market reflected a notable decline compared to previous years, with the highest gift booth bids falling significantly. This trend may correlate with overall consumer spending patterns, where rising prices in essential goods could constrain discretionary spending. Consequently, lower bid prices could indicate a less optimistic market outlook amid recovery in various sectors such as gaming and hospitality, potentially affecting overall sales at the fair as vendors adjust to changing consumer behaviors.

According to the Macao Daily News, a university student surnamed Wu successfully bid 7,500 MOP for a snack booth. She noted that the bidding atmosphere was subdued compared to last year, possibly influenced by the "Northbound Travel for Macao Vehicles", or Circulação de veículos de Macau na província de Guangdong. She planned to enhance social media promotion to attract more visitors to enjoy the food.

Pic 4. Wu and her friends operating a Food stall at the Tap Saec CNY Market. (Source: Macao Special Administrative Region Government)

The Market, from how I see it, is a valuable platform to hone one's acumen in marketing, customer service, and financial management while engaging with the local community at a lower cost.

The “CNY Market Booth Stall Youth Entrepreneurship Competition” (Official name: 年宵攤位青年創業比賽 or Concurso de Empreendedorismo para Jovens Arrendatários das Tendas da Feira das Vésparas do Ano Novo Lunar"), organised by the Economic and Technological Development Bureau (DSEDT) in collaboration with the Youth Entrepreneurship Think Tank Association, was held in conjunction with the market. This year, 14 booths participated, including 10 gift stalls and 4 snack stalls. The judging criteria included booth decoration, product content, promotional strategies, business models, and creativity. After a series of well-prepared presentations, the awards for the best stalls were given to “蛇環澳韻” (Gold), “恭喜阿蛇” (Silver), and “蛇工局” (Bronze). Additionally, “蛇工局” also won the Best Multimedia Promotion Award and the Best Original Product Award.

The organisers aim to provide young participants with practical experience in managing booth and to encourage creativity and innovation. The competition was supported by various governmental institutions, including the Municipal Affairs Bureau (IAM) and the Macao Productivity and Technology Transfer Center (CPTTM).

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Pic 5. Photo of the representatives of the winning booths on stage with organiser officials. (Source: Macao Special Administrative Region Government)

Just as the new year brings fresh opportunities, so does entrepreneurship. Chinese New Year is a time of renewal, family unity, and the hope for prosperity in the coming year.

I encourage anyone, especially aspiring student entrepreneurs, to try entrepreneurship (after calculating the risks and capital expenditure) and to contribute to our vibrant startup ecosystem. Together, we can define a future where innovation and creativity flourish, just as the new year symbolises hope and renewal. 

Happy new year folks, wishing all of you a prosperous and fruitful Year of Snake. 新年快樂!

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