From 31st Oct 2023, the BUD Fund extends to Türkiye. Republic of Türkiye locates at Asia-Europe junction and the country is a member of the G20 Group. The economies under discussion with Hong Kong include Bangladesh, Russia and Saudi Arabia. Up to Oct 2023, the BUD Fund supports Mainland China and other 37 economies.
The Government released some data of the BUD Fund on 8th May 2023, and BizMagnet BUD Fund consultant is about to share. The BUD Fund was established in June 2012. Up to Feb 2023, there are about 5,700 applications approved and 4,100 enterprises reimbursed. The total released fund is about 3.4 billion HKD. In average, … Read more
The Competition Commission lodged a case on 22nd March 2023 in the Competition Tribunal against 4 IT companies. The case told that these companies unfairly obtained 189 projects in “D-biz” with cover bids and the corresponding amount is about 13 million dollars. This is the very first case, and what is cover bidding? Cover bidding … Read more
Financial secretary Paul Chan announced the first financial budget after normalcy. As the deficit is serious, many measures have been cut or cancelled. We have the summary here: BizMagnet government fund consultant helps Hong Kong companies to apply for TVP, BUD Fund and EMF etc. We also recommend quality suppliers to help you to brand, upgrade and sell.
The Budget will be released next month, and the Chinese Manufacturers’ Association (CMA) gave a number of suggestions. One proposed item is to release, as the EMF, the geographical limitation of the BUD Fund. The Fund should support all markets outside Hong Kong (no more Mainland Programme and FTA and IPPA Programme), the CMA suggested. … Read more
BizMagnet wish you a Happy New Year and good health. In the new year time, our consultant would like to share viewpoints about current situation, and the consequence to government funding. The Chinese Government’s termination of the “zero COVID policy” is the very first black swan of 2023. Almost nobody anticipated the sudden change before … Read more
Whenever our consultants mention the importance of intellectual property (IP), most clients response: it is only for big corporation. Indeed we have a lot of tool in commerce to avoid potential risk, such as commercial insurance and intellectual property etc. Think about it, an employee demands million dollars as compensation to industrial accident and you … Read more
Previously BizMagnet government funding consultant and HSBC Business Go co-organized the seminar “Latest government funding and bank loan strategy”. In the event, we share the latest situation of BUD Fund and TVP with the audiences. HSBC Business Go is a B2B artificial intelligent digital sharing platform under HSBC Group. BizMagnet is also a business member … Read more
According to the BUD Fund official website, effective from 7th Nov 2022, the cumulative ceiling for every eligible enterprise increases from HK$ 6,000,000 to HK$ 7,000,000; while the maximum number of approval increases from 60 to 70. At the same time, the EMF also increases to HK$ 1,000,000. The Chief Executive gave his first policy … Read more
Today (19/10/2022), the Chief Executive gave his first policy address and announced the upgrade of the BUD Fund and the EMF for SMEs: The limit of the BUD Fund increases from HK$ 6 million to HK$ 7 million. The limit of the EMF increases from HK$ 800,000 to HK$ 1 million. The special facility extends … Read more