THE DEFINITIVE GUIDE TO HONG KONG’S GOVERNMENT GRANTS

Growing a business in Hong Kong can be a daunting task. Getting all the help, you can get may push your business to the next level. Hong Kong’s government grant schemes are readily available for businesses to apply to and get some financial help, but what fund does your company qualify for? Finding the different grants and qualifications can be confusing on the Government’s website and not to mention some of it is in Cantonese.

D-Biz
SME
BUD Fund
TVP

D-Biz Fund

D-BIZ fund is Hong Kong’s attempt at helping businesses effected by the COVID-19 pandemic and sponsored by the HKPC (Hong Kong Productivity Council). Being a “Distance-Business” Fund, the D-Biz is to improve all private enterprises business operations as businesses transition to an online and remote state. The fund supports the advancement in businesses to transition to an online platform.

List of things that can be done

  • Online Business
    Web development, e-commerce platform, digital advertising (excluding cost of promotion production)
  • Online order taking and delivery, and smart self-service systems
    Creation of portal, smart deliveries that promote distancing, promotion of self-service, digital advertising (excluding cost of promotion production)
  • Online customer services and engagement
    Portal development for online reservations, tech to faciliatate distance learning facilities, digital advertising (excluding cost of promotion production)
  • Digital customer experience enhancement
    Enhancement in customer service enhancement with tech such as chatbot development, augmented reality, virtual reality, or mixed reality integration and analytics to improve customer experience.
  • Digital payment / mobile point of sale
    Enable digital payment, set up fees, excluding handling fee
  • Online / cloud-based financial management systems
    Invoicing and bill collection, accounting and budget planning, asset and liabilities management, regulatory compliance, reporting and upgrade to cloud-based
  • Online/ cloud-based HR
    Payroll, leave, reimbursements, leave, and training
  • Remote document management, cloud storage and remote access services
    Setting up and using remote storage as well as ability to work remotely (VPN)
  • Virtual meeting and conference tools
    Tools to improve virtual meetings and communications
  • Virtual team management and communications
    Tools to improve virtual group meetings and collaborate.
  • Cybersecurity solutions
    Encryption, firewall, anti-virus and malware solutions.
  • Other online / custom-built / cloud-based business support systems
    Other solutions to support distancing wheter it be custom built or off the shelf

SME Fund

SME stand for 'Small Medium Enterprises' and the fund is targeted for small-medium sized businesses in Hong Kong with "Substantive Business Operations". The fund supports SME's export promotion activities. The fund must be used to target foreign markets and cannot be used on local promotion.

List of things that can be done

  • Trade Fairs
    Locally and internationally, the SME fund supports trade fairs that are targeted for the foreign markets
  • Business Missions
    International business missions to promote
  • Advertising
    Ads targeted towards foreign markets on offline and online platforms but must be targeted towards foreign markets.

 

BUD Fund

The BUD Fund dedicated towards helping non-listed enterprises with sales, business restructuring, and branding. The fund is fairly broad and helpful for most businesses but there is an extensive application process.

List of things that can be done

  • Branding
    Strategy, positioning, building design, communications, assessment, protection, and tracking
  • Upgrading and Restructuring
     innovation, repositioning, material management, technology/management upgrades, logistics
  • Promoting Sales
    Strategic planning, operation manageent, channel management, team formation and management.

 

TVP Fund

TVP stand for Technology Voucher Programme and is a fund that supports the funding of technology and system upgrades in businesses to promote greater productivity.

The fund is available to private Hong Kong-based businesses with over a year of records.


List of things that can be done

  • Appointment scheduling and queue management system
  • Augmented reality (AR) technologies system
  • Big data and cloud-based analytics solution
  • Building information modeling (BIM) system
  • Computer Aided Design (CAD)
  • Clinic management system
  • Cybersecurity solution
  • Digital customer experience enhancement
    The list goes on and can be referenced on Annex B of their guide but typically any technological upgrade to improve productivity for your business will probably be covered by TVP.


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GRANT COMPARISON

  • D-BIZ
  • SME Export
  • BUD
  • TVP
D-BIZ SME Export BUD TVP

Funding Details

Funding Amounts (Up to) HK$300,000 HK $800,000
(up to 8 projects)
HK $4,000,000
(up to 40 projects)
HK $600,000
(split into 6 projects)
Funding ratio
(Government:Private)
1:0**** 1:1 1:1 3:1

Funding Types

Marketing
Sales
Technology
Export
Operations

Qualifications Required

Registration Ordinance (Chapter 310) ***
Private company
Small/Medium sized
Substantive Business Operations
First time receiving funding from the government

Application Process

Copy of Form 1(a)/ 1(c) of the Business Registration Office or Annual Return of the Companies Registry (Form NAR1)
Copy of the Business Registration Certificate issued by the Inland Revenue Department.
HKID/Passport
Proof of substantive business operations
Receipts/quotation of declared expenditure
All copies of Signed probity and non-collusive quotation / tendering certificate(s)
Bank Statements
Employee Information
Curriculum Vitae
Documentary proof of agreement of demonstration at the end

***Alternatively, is Incorporated and registered in Hong Kong under the Companies Ordinance (Cap. 622); or Established in Hong Kong by relevant ordinances as statutory bodies;

****Disbursed 30% at the start, the totality will be reimbursed at the end

 

Interested in using the funds but not sure about the process?

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