Government grants business to take projects which are beneficial to the business itself, the industry and the society as a whole.
(Last update: 07/11/2022) Since the launch in 2012, the BUD Fund is so popular for SMEs. The BUD Fund Mainland Programme and FTA and IPPA Programme offers HK$ 7,000,000 on a one-to-one basis to encourage Hong Kong business to brand, upgrade and promote in mainland China, FTA and IPPA economies. BizMagnet BUD consultant consolidates this … Read more
After years of improvement, the BUD Fund “Mainland Programme” and “FTA Programme” (known as “ASEAN Programme” before) pair up at most HK$4,000,000 on a one-to-one matching basis to Hong Kong eligible companies. The following is some common items in the BUD Fund: Extra Staff Staffing is important for a new business development. Please notice that … Read more
The Innovation and Technology Commission launched the Technology Talent Scheme in 2018. Under the Scheme, there is the Reindustrialization and Technology Training Programme (RTTP). Hong Kong companies can gain the subsidy on a 2:1 matching basis to train their staff to boost technology and “Industry 4.0” related capability. The fund grants at most HK$500,000 every … Read more
No other company structure is qualified to apply the BUD Fund. Some common structures such as holding company or offshore owning company (which is also known as “Sister companies”) are not eligible to the BUD Fund. BizMagnet consultant experiences a lot of unqualified applicant due to the above issue. If you like to know more … Read more
The Hong Kong Government launched “Dedicated Fund on Branding, Upgrading and Domestic Sales” (BUD Fund). The 2 programmes under the Fund namely “Mainland Programme” and “FTA Programme” grant at most HK$ 4,000,000 on a one-to-one matching basis. The BUD Fund aims at promoting the competitiveness of Hong Kong companies in the mainland China and 19 … Read more
(Latest news: BizMagnet MPF Referral service benefits both employers and employees) I went to a major MPF trustee in Hong Kong to explain the relation between government fund and MPF. Maybe you wonder why MPF relates to the government fund. This is the reason: Except start-up fund, all government business subsidy application requires the applicants … Read more
For successful application and reimbursement of government fund, all procurement must follow the above process strictly and the winning vendor should be the one with lowest price. If the applicant cannot fulfil the above requirement, one should explain in detail to the Authority. BizMagnet will discuss with our clients how to observe the rule.
*This article was written in May 2020. However, the ITC Technology Voucher Programme relaxed the restriction on 14th Aug 2020, please refer to: TVP “related entities” restriction relaxed. Only for TVP. For all government business subsidies, the applicant should be a company. Some asked BizMagnet before this question: If I set up 10 companies, can … Read more
From time being, most successful BUD Fund applicants are manufacturers. This is because factories have an obvious need to transform as brands. Nevertheless, as the number of target market sponsored by the BUD Fund increases (from mainland only to all Free Trade Agreement regions today), plus the market structure changes, more and more service providers … Read more
Hong Kong has suffered from social unrest in 2019 and the COVID-19 pandemic in 2020. When things seem to recover recently, the Chinese government bypasses Hong Kong legislature to make a national security bill. Hong Kong is now on the front-line of Sino-American conflict. These unprecedented events bring total uncertainty to Hong Kong politics and … Read more
