Govt optimizes measures for two SME-supportive funds

The Hong Kong government has optimized some measures of two funds to support the local small- and medium-sized enterprises, including shortening the application freeze period to three months and offering subsidies to e-commerce platforms.

The optimization was announced by the Trade and Industry Department on Thursday, involving the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund) and the SME Export Marketing Fund (EMF).

Among the optimized measures, each applicant enterprise will be able to submit one Easy BUD application every three months, versus every six months at present.

In addition, the funding scope of the Easy BUD application will be expanded to the establishment of online sales platforms.

In the face of rising trade protectionism and geopolitical tensions, the BUD Fund will provide funding support for professional fees to the businesses which plan to set up new entities in eligible markets 

These measures apply to applications received from March 14, 2025, onwards.

The enhancement measures aim to provide more targeted support to SMEs and “encourage them to enhance competitiveness and tap into markets outside Hong Kong”, the TID spokesperson said in a statement.

STAFF REPORTER