When we talk about government fund, most of us will think about the BUD Fund or the TVP, and neglect the “Export Marketing Fund” (EMF). From 2001 to 11th Sep 2020, the EMF has already granted more than $3.9 billion to help SMEs to explore outside market. Let BizMagnet brief this useful EMF.
Objective
To encourage Hong Kong SMEs promote export goods to expand in outside markets, the HKSAR Government launched the Export Marketing Fund to grant 50% of the relevant costs. There is no limit on the number of applications and the cumulative grant for each eligible SME is HK$ 800,000.
Eligibility
- Valid Hong Kong business registration
- Substantive business operation
- SME. (Service provider with less than 50 employees or manufacturer with less than 100 employees)
Please notice that if two companies with similar business, addresses, contacts, shareholders, directors etc, they are defined as one related business and have to count as one single entity for the cumulative ceiling.
Funding scope
- Exhibition outside Hong Kong, or exhibition target on foreigners in Hong Kong
- Traditional advertisement
- Online advertisement
- Website or Online shop
- Promotional mobile apps
Funding amount
No limit on the number of application. The government will grant 50% of the approved cost (capped at HK$ 100,000). One single entity can get at most HK$ 800,000.
Reimbursement
Applicant company should submit the application within 60 days the project accomplished. The EMF differentiates from other government funds that the enterprise can submit an application after the project.
It is easier to apply for the EMF than the BUD Fund and the TVP. The Fund aims at export market and it is very useful for goods export business. BizMagnet will discuss the EMF application in another article.
Official EMF website: SME Export Marketing Fund