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.
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.
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.
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.
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
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.
In general, it takes 50 – 90 days for approval after the application submission.
Yes, certainly. Nevertheless, a government funding consultant can help you to do it more smoothly.
Reference: ReTAAS Official site
