Notes

Bud Esp

For particulars, please kindly check with the Innovation and Technology Commission guideline. The BUD Fund offers funding help for individual Hong Kong enterprises in exploring and developing the Mainland (via "the Mainland Programme") and the ASEAN (via the "ASEAN Programme") markets. All non-listed enterprises registered in Hong Kong beneath the Business Registration Ordinance with substantive enterprise operations in Hong Kong are eligible to apply, irrespective of whether they belong to the manufacturing or service sector or whether they have already got any enterprise operations in the ASEAN and the Mainland China. This means the Hong Kong government will cowl 50% max of the whole approved project prices, with the enterprise contributing a minimum government of 50%. For SMEs and start-ups growing enterprise in these particular markets, the BUD Fund is prepared to cover enterprise expenses for up to HK$1 million per project on an identical basis – meaning the HK government will cowl a maximum of 50% of the entire prices. All non-listed enterprises registered in Hong Kong beneath the Business Registration Ordinance with substantive business operations in Hong Kong are eligible to use, no matter whether or not they belong to the manufacturing or service sector or whether they have already got any business operations in the Mainland and the FTA economics.

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The BUD Fund offers funding support for particular person Hong Kong enterprises to undertake initiatives to develop manufacturers, improve and restructure their enterprise operations and promote gross sales in Mainland China and ASEAN, so as to reinforce their competitiveness and to facilitate their enterprise improvement. Funding shall be supplied on a matching basis, i.e. the Government will cover a most of 50% of the total approved project cost and the enterprise has to contribute no much less than 50% of the whole project price in cash. During the tenure of the BUD Fund, every enterprise might get hold of funding for a maximum of forty approved projects and the total cumulative funding amount is $4,000,000 beneath the “Mainland Programme” and the “FTA Programme”. Funding is supplied on a matching foundation, i.e. the Government covers a most of 50% of the entire accredited project price and the enterprise has to contribute a minimal of 50% of the entire project value in cash. The cumulative funding ceiling per enterprise underneath the BUD Fund is $500,000. The &quot;Dedicated Fund on Branding, Upgrading and Domestic Sales&quot; was arrange in June 2012 to help Hong Kong enterprises in exploring and developing the Mainland market.

https://www.openlearning.com/u/flamebronze6/blog/EnhanceYourBrandingAndPromotingWithTheBudFund of mortgage guarantee for each SME is $6 million and the assure interval is as a lot as 5 years. The Scheme offers further financial incentives to encourage personal enterprises to take part in R&amp;D. Under the Scheme, enterprises conducting utilized R&amp;D initiatives supported by ITF or in partnership with designated local public analysis establishments will enjoy a money rebate equal to 40% of their investments.

Michael has an MBA from the Hong Kong University of Science and Technology and NYU Stern Business School. Applications are reviewed on the end of every quarter, and approvals given inside three months. So when you apply by the tip of September deadline, you should hear back relating to your funding approval by the top of December. You will want to submit an software which incorporates an intensive marketing strategy, earlier than you undertake the project. There are providers based mostly in Hong Kong you can interact that can assist you by way of this process. If you go down this route, do read all utility data as there are requirements that the supplier needs to satisfy.

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The incentives of tourists travelling to Hong Kong and of businessmen overseas operating companies and investing in Hong Kong have been affected. • Increasing the ratio of preliminary cost from 25% to as much as 75% of the total accredited government funding. Hence the BUD subsidy applicants can get maximum HK$0.75 million via the applicant’s corporate checking account. All non-listed enterprises registered in Hong Kong under the Business Registration Ordinance with substantive enterprise operations in Hong Kong. Irrespective of whether they belong to the manufacturing or service sector or whether they have already got any enterprise operations within the FTA markets and the Mainland China.

During the tenure of the BUD Fund, you probably can acquire funding for a most of 20 accredited initiatives capped at HK$1 million per project. The cumulative funding ceiling is HK$4 million – HK$2 million for the Mainland market, and HK$2 million for the ASEAN and FTA markets. Funding will be supplied on matching basis, which means the Government will cover a MAXIMUM of 50% of the whole permitted project cost and the corporate has to contribute a minimum of 50% of the entire project price. The enterprise engages qualified service providers to develop holistic enterprise plans in the areas of branding, upgrading and restructuring and/or promoting sales that improve their competitiveness and facilitate their enterprise improvement. The first part of the enhancements, to be launched in July 2021, embrace growing the cumulative funding ceiling per enterprise to $6 million and extending the geographical protection to Japan and the Republic of Korea. All non-listed firms registered in Hong Kong underneath the Business Registration Ordinance and having substantial business operations in Hong Kong are eligible to apply for funding.

[link] , to assist extra SMEs, together with startups and new businesses, capture financial alternatives, the Hong Kong Government has enhanced the BUD Fund to offer funding support for SME’s, startups and new companies to undertake projects for growing in countries which a Free Trade Agreement with Hong Kong exists. The cumulative funding ceiling for BUD fund (Total of “Mainland Programme?and my explanation ? is HK$4 million per enterprise. The enterprise itself and/or its appointed implementation agent implements specific measures in the areas of branding, upgrading and restructuring and/or selling gross sales that enhance their competitiveness and facilitate their business development.

The fund is on the market for both start-ups and SMEs, registered in Hong Kong with substantial business operations in Hong Kong. Applicants can select whether or not to receive initial payment for his or her accredited made a post project. The enterprise should have substantive enterprise operation in Hong Kong related to the project underneath utility on the time of utility submission.



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