How to Choose a BUD consultant?

The BUD Fund grants at most HK$ 4,000,000 to each eligible enterprise (shared by Mainland Programme and FTA Programme). The BUD project includes establishing a holistic business plan, known as BUD Type (i), and the implementation, known as BUD Type (ii). Though a firm can apply for 40 times at maximum, in general, 1 to 2 times is enough. It is not cost-effective at all to allocate plenty of human resource to study how to apply. That’s why there is a service – BUD consultancy.

Because most consultants agree not to disclose any information, it is rare to know the portfolio of a BUD consultant. A client is hardly able to judge a consultancy from the portfolio. In order to choose a BUD consultant properly, BizMagnet suggest to ask these:

Does the consultant check your eligibility first?

The professional will first inspect client’s BUD eligibility. Because the Hong Kong Government follows strictly to the standard procedure, their first step must be qualification. If a consultant doesn’t check it at the very beginning, he/she might deal with you ignoring if the application possible. It is not in client’s interest.

Does the consultant like to be a supplier too?

As an consultant, he/she should be independent to serve. If a marketing agency works as a consultant at the same time, his/her advice may be biased and interfere your business plan. We are not saying a consultant should not give any supplier recommendation, but he/she should be honest and transparent. A client can fairly choose suppliers with full information.

Can the consultant figure out the chance in 15 minutes?

Experienced BUD consultant is not common in the market, if one has to pitch more than 1 hour, it means one is not experienced. The BUD consultant of BizMagnet can figure out your application barrier in 15 minutes.

Choose BUD consultant wisely

The value of a consultant is the experience, swiftly analyses the case for a client and provides the best advice. Think about that, if the application is deferred or rejected, a company has to spend much more time on it. Time is money, business is business. BizMagnet wishes the above tips helpful for expanding businesses.

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