BUD Fund geographical limitation

2023 BUD Fund

The Budget will be released next month, and the Chinese Manufacturers’ Association (CMA) gave a number of suggestions. One proposed item is to release, as the EMF, the geographical limitation of the BUD Fund. The Fund should support all markets outside Hong Kong (no more Mainland Programme and FTA and IPPA Programme), the CMA suggested. … Read more

Govt Funding 2023

BizMagnet wish you a Happy New Year

BizMagnet wish you a Happy New Year and good health. In the new year time, our consultant would like to share viewpoints about current situation, and the consequence to government funding. The Chinese Government’s termination of the “zero COVID policy” is the very first black swan of 2023. Almost nobody anticipated the sudden change before … Read more

Know more about Intellectual Property

Intellectual Property

Whenever our consultants mention the importance of intellectual property (IP), most clients response: it is only for big corporation. Indeed we have a lot of tool in commerce to avoid potential risk, such as commercial insurance and intellectual property etc. Think about it, an employee demands million dollars as compensation to industrial accident and you … Read more

ATAL has $150m fine for anti-competitive behavior

Competition Ordinance

ATAL(1977), a listed company chaired by husband of ex-justice secretary Teresa Cheng Otto Poon, was suited by the Competition Commission (the Commission) that ATAL violated the Competition Ordinance with Shun Hing Group by price fixing and bid rigging. Today (4 Nov), the Commission announced that the ATAL subsidiary admitted the case and pay the fine … Read more

TVP Scam (Over the phone)

TVP trap

Hello everybody. You may read BizMagnet article “Common TVP fraud” and know some common tricks the fraudsters do. Recently there are more new tricks over the phone, one you are framed you may lose hundred of thousand HK dollars. Basic: Technology Voucher Programme TVP “Hi, let us get TVP money together!” First, the scammer will … Read more

Common TVP fraud

TVP trap

BizMagnet consultant wrote about TVP fraud in 2020, around the third wave of epidemic. Nowadays, Hong Kong business environment changed completely, and many businesses closed due to social distance measures. Even the HKSAR Government launched number of supporting scheme, such as D-Biz, enhanced 100% Special Guarantee Loan scheme and extended Export Marketing Fund etc, local … Read more

Use Govt Subsidy to capture Economic rebound

Revenue banner

On 7th April, 2022, the HKSAR Government released the second Consumption Voucher to the citizens by the same electronic payment platform, which are Octopus, Alipay, Wechat Pay and Tag & Go. It is anticipated that the social distance measures will be relieved after the expiration on 20th April. Variety of suspended businesses such as beauty, … Read more

Budget 2022 support for commerce

HKTDC sourcing

Financial secretary Paul Chan announced the last financial budget of his term. Due to the serious impact of the 5th wave of COVID-19, the budget provides a series of support to local commerce and this is the brief: Reduce 100% of profit tax for the year of assessment 2021/2022 (Maximum: HKD 10,000) Reduce non-residential rate … Read more

Budget 2021: Special 100% Loan Guarantee

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Announced in the 2021-22 Budget, the government will enhance the Special 100% Loan Guarantee of the SME Financing Guarantee Scheme (SFGS) to relieve further SMEs’ cash flow pressure. The improvement measures are as follows: Maximum amount of loan: the total amount of employee wages and rents for 18 months, or HK$6 million, whichever is lower … Read more