The Hong Kong SAR Government provides a number of funds to enhance Hong Kong business competitiveness, operation and technology application etc. However, enterprises and government have a very different viewpoint, and this makes the government funding application very confusing for enterprises. Government funding consultants play an important role to help businesses to apply for corresponding funds. The service allows a better resource usage for companies.
According to the official TVP website announcement, the “related entities” restriction is relaxed from 2020/08/14. Now, different companies with the same ultimate natural person holding more than 30% shares will NOT be considered as ONE single entity. These companies have independent cumulative subsidy pool. In other words, suppose you own more than 30% of Alpha … Read more
The SME Reachout started operation on 1st January, 2020 to provide SME government funding consultation service. The online exhibition “SME Reachout: Fund Fair Everywhere 2020” will be held in 24th – 26th August. There will be 25 webinars and success sharing to introduce more than 40 types of government funding. These include BUD Fund, TVP … Read more
Mr Mohamed D. Butt, the executive director of Hong Kong Productivity Council, mentioned in an event that the BUD Fund grant increased by 12% in the first half of 2020, compared to the same period in 2019. It showed that Hong Kong companies know more how to use government fund in markets outside Hong Kong. … Read more
If you read BizMagnet Insights constantly, you must know that proof of substantive operation is essential for BUD application. Then, some may ask, “How much should a company make in a year to qualify as a BUD applicant?” $500,000? $2 million? Or even $4 million. Stop guessing, let us see how the professional BUD consultant … Read more
From social unrest and COVID-19, Hong Kong SMEs are under unprecedented stress. Never say never, there are also a lot of companies upgrade at the same time with the aid of the Technology Voucher Programme (TVP). They are optimistic about future and get well-prepared. BizMagnet consolidates 10 successful TVP cases to share the insight. The … Read more
The Dedicated Fund on Branding, Upgrading and Domestics Sales (“BUD Fund”) grants Hong Kong companies as much as HK$ 4 million to expand in mainland China or Free Trade Agreement markets. As all other government funds, companies should follow the standard procurement process in BUD mainland and FTA programmes. For TVP application, applicants should submit … Read more
From social unrest in 2019 to COVID-19 this year, plus the global political conflict, it is a very difficult time for Hong Kong SMEs. A business upgrade and transformation with government funding could be a good idea in economic adversity. Not only save some money, but also gain resilience in the future. HSBC interviewed around … Read more
The Innovation Technology Commission launched the Technology Voucher Programme (TVP) as a pivot basis in Nov 2016, and increased the cumulative maximum to HK$ 400,000 and made the scheme regular in Feb 2019. Due to COVID-19 epidemic, the TVP Fund further enhanced in the Budget 2020: maximum raised to HK$ 600,000, subsidy ratio raised to … Read more
BUD Fund extended to the ASEAN in 2018, divided into “Mainland Programme” and “ASEAN Programme”. It furthered to all economies which signed a free trade agreement (FTA) with Hong Kong, and ASEAN Programme upgraded as “FTA Programme“. After signing “Closer Economic Partnership Arrangement” (CEPA) with mainland China, Hong Kong signed a FTA with 7 economies … Read more
A chat with my friends from business chamber (not at a restaurant but WhatsApp) and all agreed that it is so hard for business now. “Last year it was just messy, once it looked ok and COVID-19 came.” “Cases were less then we had the national security law. My business is all about the US, … Read more
