Everyone of us is talking about business development in China, but how to build our own brand and promote it thoroughly is a big problem. This time we will share a BUD successful story about a traditional dried seafood shop in Hong Kong. Mr Chan is the third generation of a dried seafood shop in Sheung Wan, he has his own factory and retail points. Not only a renowned brand, but also an abundant business network the shop has got. After years of good experience, he observed the bottleneck of the business development. Obviously, extension to mainland China seems to be a natural choice.
Further reading: BUD Fund Application mistakes
Success in Hong Kong to China
However, it is not easy for a native Hong Kong citizen to adopt the life in China. Different commercial environment, regulation and lifestyle make Mr Chan confused at the very beginning. Certainly, the business in Hong Kong is the root of growth, but it is also inappropriate to copy everything in Hong Kong to the new business in China. So Mr Chan found a business consultant specialized in mainland to help series of action, brand localization, location seeking, business establishment and all means marketing. The consultant provided a business plan dedicated to the industry. And the good news is the BUD Fund Type (i) grant helps the cashflow a lot.
Local talent and resource
Once the consultant gave the final report, Mr Chan decided to go ahead for the business in mainland China. All of us, as a businessman, knows that talent is everything. Fortunately, the BUD Fund can sponsor staffing and other common BUD items such as brand design, online marketing and automating machines etc. The Hong Kong company can have a local business with local talent and resource.
Apply for the BUD Fund Mainland Programme
Now the BUD Fund Mainland Programme has a combined pool with the FTA Programme to provide at most HK$ 4,000,000 to eligible companies. Once you find a good BUD Fund consultant with reasonable plan, it is easy to provide a good BUD proposal to increase the successful chance of BUD application. In a recent activity, the executive director of HKPC Mr Mohammed Butt mentioned that the BUD Fund subsidy increased by 12% in the harsh first half of 2020. This tells us chance always present. BizMagnet Limited is a professional BUD consultant and welcome to contact us.