In Hong Kong, Small & Medium Enterprise (SME) means the non-manufacturing companies with less than 50 persons or the manufacturing companies with less than 100 persons
The HKSAR Government launched the “E-commerce Easy” under the BUD Fund on 15th July, 2024. This is not a new funding scheme but an enhancement of the BUD Fund. “E-commerce Easy” was discussed in last year policy address. In the past, the most challenging part of BUD Fund Application is the budgetting of the multi-item … Read more
In order to assist SMEs in the retail and catering industry, the HKSAR government has prepared $500 million for the Digital Transformation Support Pilot Programme (DTSPP). This is a one-to-one matching fund with maximum of $50,000 to help eligible companies to procure, rent or subscribe electronic payment system, POS, digital marketing and CRMs etc. Vendor … Read more
BizMagnet wish you a happy new year! In the previous year, we had many many businesses and wrote less articles for our readers. We promise to write more in the coming time. A lot of people expected more opportunities in 2023 after the pandemic recovery, and they were disappointed. Economic downturn took places in almost … Read more
From 31st Oct 2023, the BUD Fund extends to Türkiye. Republic of Türkiye locates at Asia-Europe junction and the country is a member of the G20 Group. The economies under discussion with Hong Kong include Bangladesh, Russia and Saudi Arabia. Up to Oct 2023, the BUD Fund supports Mainland China and other 37 economies.
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
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
The Hong Kong Trade Development Council organized the very first major exhibition since the COVID-19 pandemic – “HK Lifestyle ShoppingFest 2021”. There are 8 main themes: baby, smart product, jewelry, health, household, pet, learning and food. Exhibitors can enjoy “Convention and Exhibition Industry Subsidy Scheme” and gain 50% sponsor with maximum amount HKD $10,000 for … Read more
On 9th April, the Export Marketing Fund (EMF) enhanced to support virtual exhibitions. The EMF subsidizes Hong Kong SMEs to promote in markets outside Hong Kong, including latest promotion methods like website development, online advertisement and virtual exhibitions. The subsidy is 50% of the total cost and up to HK$ 800,000. The Hong Kong Trade … Read more
The Hong Kong Trade Development Council (HKTDC) ‘s mechanizing platform “HKTDC Sourcing” will launch new interface and function next month. There are more than 2 million registered buyers and 100 thousand suppliers on the platform, connecting more than 20 million businesses annually. You can apply for government fund subsidy to use the HKTDC sourcing platform. … Read more
Recently BizMagnet TVP consultant received a case that a SME incited by a TVP supplier to use the TVP agent service. It was again a conspiracy of bid rigging. As the deal is under the table, the SME now has a tiger by the tail. The TVP IT supplier demands additional charge, while the SME … Read more
