ReTAAS has been closed for new application from 1st April, 2021.

You should consider the TVP (Technology Voucher Programme).

ReTAAS Common Questions

The ReTAAS is a dedicated funding scheme for Hong Kong retail industry, and the following is some common question about the Scheme.

What is ReTAAS?

ReTAAS stands for “Retail Technology Adoption Assistance Scheme for Manpower Demand Management”. It is a HKSAR government fund to help the retail companies to apply manpower management technology to increase productivity. The Hong Kong Productivity Council is the ReTAAS Secretariat.

Who is eligible to apply for ReTAAS?

All non-listed Hong Kong companies with substantive retail business in Hong Kong. For retail operation, a company should show employments, agreements, locations etc to prove the eligibility. ReTAAS is also available for Online Shop.

How much can a retail business get from ReTAAS?

The ceiling grant is HK$ 50,000 for one company. ReTAAS will grant 50% of the project cost for each application, and a company can apply at most 2 times.

What items does ReTAAS cover?

Technology system that helps enhancing manpower demand management. For example, POS System (Point-of-sales), online shop, digital payment system, inventory system, security and surveillance system etc

How to apply for ReTAAS?

A retail company should submit the application to the HKPC (the ReTAAS secretariat) with complete project planning and budget. The Secretariat may need the applicant company to clarify for approval. After the application approved, the applicant can start the project and finish within 6 months. Then the applicant should submit the audit and final report for approval again. Once the reports approved, ReTAAS will provide the payment.

How long will the applicant wait after the submission?

In general, it takes 50 – 90 days for approval after the application submission.

Can I apply for the Scheme myself?

Yes, certainly. Nevertheless, a government funding consultant can help you to do it more smoothly.

Reference: ReTAAS Official site

  • BUD Fund extends to Türkiye
    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. Related … Read more
  • SFGS 100% Loan fraud
    The ICAC press release announced that 6 directors or proprietors were charged for false statement during SFGS 100% loan application. The loan amount was around HK$ 19m. The trial will be held in the district court. The maximum sentence of criminal case trial in the district court is 7-year imprisonment. The consultant is not going … Read more
  • BUD Fund statistic 2023
    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