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Government funding schemes for SMEs at a glance
 
 
 
 
 
 
 
 
 
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How can SMEs enhance their competitiveness without sufficient funds? There are various kinds of Government funding schemes covering different areas to help SMEs upgrade and expand their business. Below are the introduction of various funding schemes.
 
 
 
BUD Fund
 
Objective: To enhance the competitiveness of SMEs and facilitate their business development in the Mainland and ASEAN market.
Scope of Funding: Any projects which explore and develop the Mainland and ASEAN markets through developing brands, upgrading and restructuring operations and promoting sales.
Funding Amount: - Each enterprise may obtain funding for a maximum of ten approved projects and $1,000,000 each for the “Mainland Programme” and the “ASEAN Programme”.
- Cover a maximum of 50% of the total approved project cost
More Information: www.bud.hkpc.org
 
 
 
SME Export Marketing Fund (EMF)
 
Objective︰ To encourage SMEs to expand their markets outside Hong Kong.
Scope of Funding: Participation in the following export promotion activities targeting overseas markets:
- Trade fairs/exhibitions outside Hong Kong
- Business missions outside Hong Kong
- Local trade fairs/exhibitions
- Placing advertisements on printed trade publications
- Promotion activities conducted through electronic platforms/media
- Setting up or enhancement of a corporate website

Funding: - No limit on the number of applications by an enterprise for EMF grants. However, each enterprise may receive EMF grants up to a cumulative limit of $800,000 only.
- The maximum amount of grant for each successful application will be 50% of the total approved expenditure incurred by the applicant enterprise or $100,000, whichever is the less.
Amount: www.smefund.tid.gov.hk
 
 
 
Technology Voucher Programme (TVP)
 
Objective: To subsidise local SMEs in using technological services and solutions to improve productivity, or upgrade or transform their business processes.
Scope of Funding: Technology services and solutions
- Technology Consultancy
- Purchase, rental or subscription of customised equipment/hardware, software and technological services or solutions.
- Purchase, rental or subscription of off-the-shelf/readily available equipment/hardware, software and technological services or solutions.
- Project auditing

Funding Amount:- Funding up to two third of the total approved project cost will be provided on a 2:1 matching basis.
- Up to three projects from an enterprise may be approved with the cumulative funding ceiling of $200,000.

More Information: www.itf.gov.hk/l-tc/TVP.asp
 
 
 
SME Loan Guarantee Scheme

 
Objective: To provide loan guarantee to SMEs to help them secure loans from the participating lending institutions for acquiring business installations and equipment or meeting working capital needs of general business uses.
Use of Loans: - Purchase equipment relating to the applicant's business operation
- Pay for general business operation cost

Guaranteed Loan Amount: The amount of guarantee is 50% of the loan amount, with a maximum total guarantee amount of $6 million.
Guaranteed Loan Amount: www.smefund.tid.gov.hk
 
 
 
Patent Application Grant Scheme

 
Objective: To encourage local companies and inventors to capitalise their intellectual work through patent registration.
Scope of Funding: All applications for functional patents and inventions with technology elements and susceptible of industrial application are eligible.
Funding Amount: A grant of not more than HK$250,000 or 90% of the sum of the total direct cost of the patent application (including the cost for patent search-cum-technical assessment), whichever is the lower, will be provided.
More Information: https://www.itc.gov.hk/ch/funding/pag.htm
 
 
 
 
For more SME information, please visit COME BUSINESS https://comebusiness.com/