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:
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.
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.
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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