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12 Successful BUD Fund Cases

The BUD Special Fund provides up to $7 million in funding to assist Hong Kong enterprises in entering the free trade zones/mainland China market, developing their brands, and upgrading their transformations. Many companies that have attempted to apply for BUD funding find the application process quite cumbersome. The application form alone spans several dozen pages, and it must meet all the requirements. As a result, many businesses ultimately fail in their attempts, hindering opportunities for business development. BUD consultants are here to share 12 successful examples of BUD Mainland Special Fund projects. These projects cover industries that we encounter in our daily lives, including products and services, and BUD projects typically include exhibitions, brand development, system upgrades, and more, making them highly relevant.

Wine Sales - Creating a Brand and Establishing an E-commerce Platform

As Chinese consumers increasingly prioritize quality of life and taste, the demand for red wine in the market continues to grow. A Hong Kong-based red wine company recognized this opportunity and decided to enter the domestic market, aiming to expand its sales network through its own brand and an e-commerce platform.

The company implemented a series of measures:

  1. Creating their own brand: The company conducted market research, defined its target customer groups, and created several in-house red wine brands based on their preferences and needs.

  2. Establishing an e-commerce platform: Recognizing the growing trend of online shopping, the company decided to build its own e-commerce platform to provide a convenient shopping experience.

  3. Upgrading the logistics chain: Red wine requires specific storage and transportation conditions, so the company increased its investment in upgrading the entire logistics chain to ensure that the product maintained its optimal quality from production to the hands of consumers.

With the support of the BUD Special Fund, the company took the following actions:

  1. Quality inspection: To ensure that product quality met domestic market standards and consumer expectations, the company, with the support of the BUD Fund, conducted ISO quality inspections and product certification.

  2. Establishing the e-commerce platform: Increasing online sales channels.

  3. Market promotion: The fund also supported the company in conducting various market promotion activities, including online advertising, wine tasting events, and participation in domestic wine exhibitions, enhancing brand awareness.

  4. Employee training: The fund also supported training for company employees to enhance their professional knowledge and skills to meet the demands of the domestic market.

Results: With the support of the BUD Special Fund, the company successfully entered the domestic market. Their in-house brand gained recognition among consumers, e-commerce platform sales continued to grow, and the upgrade of the logistics chain ensured product quality and consumer satisfaction, thereby enhancing overall competitiveness.

Beauty Products - Participating in Exhibitions and Upgrading Systems

In the past 30 years, with the rapid development of the Chinese economy, consumers have become increasingly focused on personal care and beauty, leading to the prosperity of the beauty products market. A beauty product brand agent based in Hong Kong with 20 years of establishment decided in 2019 to further expand its market share domestically and improve its business operations efficiency while increasing its business volume.

Here is the expansion strategy of the beauty product brand agent, BeautyX, in the domestic market:

  1. Participating in exhibitions: The brand decided to participate in beauty product exhibitions in Shenzhen, Guangzhou, and Shanghai to directly interact with target customers while showcasing and promoting its range of agent products.

  2. Upgrading CRM system: To manage customer information and sales data more effectively, the brand invested in upgrading its CRM system. The new system could centralize customer consumption behavior, product sales channels, sales records, and customer distribution information.

  3. Recruiting and training employees: After recruitment, the company organized a series of training activities. In addition to specialized CRM system training, all new employees underwent onboarding training on the company’s culture and product knowledge to ensure they fully understood the company’s core values and product features.

With the support of the BUD Special Fund, the company achieved the following progress:

  1. Exhibition support: Through the fund’s assistance, the brand was able to participate in more exhibitions, expanding its brand exposure domestically and attracting a significant number of potential customers.

  2. CRM system upgrade: The fund provided the necessary financial support, enabling the brand to upgrade its CRM system, thereby improving the efficiency of sales and customer management.

  3. Training: The fund also assisted company employees in gaining CRM system training, ensuring they could fully utilize the new system’s features to better serve customers.

Results: Thanks to the support of the BUD Special Fund, the visibility of this beauty brand in the domestic market significantly increased, and the exhibition participation yielded noticeable results. Furthermore, the upgraded CRM system enhanced their business operations efficiency, enabling the brand to promote products and services more effectively and respond rapidly to market changes, greatly improving its competitiveness.

Cosmetic Sales – Promotion and Repackaging

To carry out market promotion, advertising strategies are crucial. A cosmetic company, with the help of the BUD Fund, placed advertisements in local top beauty and cosmetic magazines and also revamped its product packaging to give the brand a fresh and youthful appeal. Additionally, the cosmetic company participated in major beauty expos, establishing connections with several influential distributors and buyers.

Children’s Clothing Brand – Online Advertising and Mobile Applications

In response to a new generation of parents willing to invest in their children’s clothing, the children’s clothing brand decided to expand its reach. They launched various online advertising campaigns and introduced a mobile application for promotional purposes. Furthermore, they utilized funding to hire staff to explore different sales channels to ensure the brand’s penetration in the market.

Footwear Company – Establishing Online and Physical Stores

To capture a significant market share, opening retail locations is essential. Additionally, with millions of internet users in China, setting up an online store and engaging in online promotion is crucial. Simultaneously, the company received funding to hire additional personnel to expand their sales team and enhance customer service and logistics quality.

Watch Manufacturer – Upgrading Factory Equipment

With the support of the BUD Special Fund, a traditional watch manufacturing facility introduced various automated production equipment, automating many labor-intensive processes and significantly improving product quality. After the upgrade, production costs were reduced by approximately one-third, enhancing market competitiveness.

Clothing Brand – Brand Enhancement and Promotion

Facing the shifting tides of the times, a former garment factory decided to establish its brand. They repositioned themselves in the market, hired professional brand designers to redesign their logo and storefront, and utilized various channels such as WeChat, Weibo, mobile applications, and websites to promote their new-generation brand.

Toy Manufacturer – Brand Development and Omni-channel Sales

Seeing declining profit margins in contract manufacturing, a toy manufacturer decided to create its brand, developing new educational toys for children. They also embraced omni-channel sales, including physical stores and online shops, to cater to a wide customer base.

Electronics Company – Research and Equipment Upgrades

Innovation and change are essential to gain customer trust. An electronics company, with the help of the BUD Special Fund, hired digital researchers to enhance product functionality for use in various household appliances. To assure customer confidence, they also acquired various testing equipment and certifications, ensuring product quality.

Logistics Company – System Upgrade

In the information age, system applications are indispensable. With funding from the BUD Fund, a logistics company upgraded its logistics and customer relationship management (CRM) systems. This not only made daily operations more efficient, saving costs, but also allowed for the analysis of customer habits and changing needs, thus improving sales methods and products to better satisfy customer requirements.

Accessory Manufacturer – Patents and Sales Channels

Domestic consumers place a high value on brands. Traditional accessory manufacturers used the BUD Fund to develop their own brand products, apply for patents, establish a professional sales team, create sales points, and promote their products online.

Snack Retailer – Brand Development and Market Promotion

Through advertising, a healthy snack brand was established, and awareness among partners was enhanced. Participating in expos not only promoted the products but also provided insight into consumer tastes, allowing for clearer direction in product development and sales strategies.

BUD Application Success is Guaranteed

The BUD program is a practical solution that benefits various businesses. To successfully apply and secure up to 2 million in funding, the BUD consulting team is your valuable ally. Hong Kong Funding Consultants Limited is a renowned government-funded brand with the motto “No success, no fee.” If you wish to apply for BUD, business owners should seek the assistance of Hong Kong Funding Consultants Limited.

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