2. SME ONE- a government-created SME resource library, which also covers financing opportunities and additional information on the BUD programme. Other improvements to the BUD Fund have been in effect since April 9, 2020, including the removal of geographic delimitation for each company in the implementation of projects on the continent and other economies that have signed free trade agreements with Hong Kong ($2 million each for cumulative funds). Businesses can flexibly use a total of $4 million to carry out projects on the continent or in other economies that are signatories to free trade agreements with Hong Kong. In addition, companies participating in virtual exhibitions organized by organizations close to the government or organizers of serious, successful fairs can benefit from financial assistance under the BUD fund. The Hong Kong government publishes a list of SMEs, start-ups and start-ups that have successfully benefited from funds under the BUD-Continental Fund programme and the ASEAN programme. The free trade agreement includes Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam, Australia, Chile and the four member states of the European Free Trade Association (for example. B Iceland, Liechtenstein, Norway and Switzerland), Georgia, Macau and New Zealand. If this financing option is not right for you, check out our list of other start-ups, SMEs and new publicly supported business financing options. The Bud Fund has been supporting the expansion of stores from Hong Kong to mainland China since 2012. The Fund`s objective is to provide financing and access to capital to help Hong Kong SMEs and new smes explore the market in mainland China through brand development, business modernization and restructuring and sales promotion.
More recently, the Hong Kong government has increased the BUD fund to support SMEs, start-ups and new businesses to help more SMEs, including start-ups and start-ups, develop developing countries in countries where there is a free trade agreement with Hong Kong. The BUD fund, both for the continental program and for the free trade program, can cover the commercial costs associated with developing your business in specific markets. You can include staff costs (up to 50%), start-up fees (up to 20% of financing) and fees related to the following activities: Below you will find a brief list of the types of activities for which you can use BUD funding. If you`re looking for a more accurate list, check out the 52-page application guide on the government`s website (Appendix 1 – Page 33). Each company can apply for a total financing of HKD 2,000,000 (i.e.: