TVP Quotation

Technology Voucher Programme TVP - BizMagnet Limited

Quotation is a fundamental business behavior and it appears always during procurement. However, there is some difference between private sector and the government in procurement. This makes quotation for the TVP a headache sometimes. In this article, BizMagnet TVP consultant shall glance the government procurement, explain the difference and consequential problem. We will attempt a … Read more

Which countries are supported by BUD Fund?

BUD Fund poster - BizMagnet Limited

(This page is updated up to June 2022) The BUD Fund consists of “Mainland Programme” and “FTA and IPPA Programme“, and supports related projects in Mainland China and FTA and IPPA economies respectively. The FTA and IPPA Programme was originally the ASEAN Programme to supports projects in the ASEAN member states. Later on the Programme … Read more

TVP FAQ 2022

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Technology Voucher Programme launched as a pivot programme in 2016. It became regular in Feb 2019. Local businesses which fulfill the basic requirement (e.g. substantive operation, non-listed etc) can submit TVP application to the Innovation and Technology Commission (ITC). Successful applicants can enjoy the matching fund for 75% of their IT project cost, with a … Read more

Common TVP fraud

TVP trap

BizMagnet consultant wrote about TVP fraud in 2020, around the third wave of epidemic. Nowadays, Hong Kong business environment changed completely, and many businesses closed due to social distance measures. Even the HKSAR Government launched number of supporting scheme, such as D-Biz, enhanced 100% Special Guarantee Loan scheme and extended Export Marketing Fund etc, local … Read more

Use Govt Subsidy to capture Economic rebound

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On 7th April, 2022, the HKSAR Government released the second Consumption Voucher to the citizens by the same electronic payment platform, which are Octopus, Alipay, Wechat Pay and Tag & Go. It is anticipated that the social distance measures will be relieved after the expiration on 20th April. Variety of suspended businesses such as beauty, … Read more

“100% Loan Guarantee” fraud

TVP trap

In order to lower the impact of the fifth epidemic wave on local SMEs, the HKSAR Government launched “Special 100% Loan Guarantee” scheme to provide low-rate credit. However, fraudsters made false instrument such as bank statement and MPF records etc. They obtained around HKD 280 million already and planned to apply for HKD 100 million … Read more

BUD Fund: Preview 2022

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Hong Kong experienced unprecedented changes since 2019. Social unrest in 2019, National Security law and the change in trade status in 2020, and also global COVID-19 pandemic, all make fundamental changes to Hong Kong business environment. As BizMagnet government funding consultant expected, the HKSAR Government cannot reduce support to business due to political and economic … Read more

The 4th round of Anti-epidemic Fund

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Previously the Chief Executive Carrie Lam announced that the government seeks injection approval to the Anti-epidemic Fund before Christmas. The fourth round of the Anti-epidemic Fund will assist those sectors impacted by the social distancing measures. For instance, restaurants, beauty salons, fitness centres etc. The application is simple and even raised by the government. Nevertheless, … Read more

ESS finished and layoff coming

Poor business

Under the Anti-epidemic Fund of the HKSAR Government, the Employment Support Scheme (ESS) had two phrases, June to August and September to November this year. Companies accepting the ESS subsidy cannot cut jobs during the period. Therefore some enterprises such as Cathay Pacific didn’t apply for the second phrase. The ESS completed on 30th Nov … Read more