Successful Cases of BUD Special Fund
Year 2021Successful Applications for BUD Special Fund (Partial Cases)
We can proudly call ourselves the most cost-effective government funding consultants in the industry. Why? Because we are affordable and have over 500 successful cases, the most in the industry. Don’t worry about comparing prices; we offer fair rates and guaranteed success. Whether it’s starting a new company, securing funding, or avoiding illegal bidding, we’ve got you covered. The following success stories are just a small sample; our experience speaks for itself.
Food and Soup Manufacturer - BUD Domestic
Challenges faced by Company B:
Low Market Awareness: Despite operating in Hong Kong for over 10 years, there is limited market awareness in the Greater Bay Area.
Supply Chain Challenges: Expanding into the domestic market requires establishing a new supply chain to ensure stable quality and pricing of raw materials.
Limited Marketing Resources: Professional personnel and strategies are needed for product promotion, particularly in collaboration with local Key Opinion Leaders (KOLs).
Cultural and Habitual Differences: Consumer habits and preferences in the domestic market may differ from those in Hong Kong.
In 2021, we assisted Company B in Hung Hom to utilize the Hong Kong BUD Special Fund for development in the Greater Bay Area.
BUD Project Application Amount: Approximately HKD 700,000
BUD Approved Amount: Approximately HKD 350,000
The BUD project included:
- Renting a new office space
- Recruiting and training new employees
- Marketing efforts (KOL online promotion)
Projects initiated by BUD:
Expanding to New Office Locations: Providing essential funding to support the company’s expansion plans in the domestic market. This time, the company has set up a new procurement department in Shenzhen.
Increasing Human Resources and Human Resource Training: Assisting the enterprise in recruiting and training new employees, especially experts in marketing and procurement.
Collaborating with Key Opinion Leaders (KOLs) for Market and Product Sales: BUD helped the company establish partnerships with well-known local KOLs to enhance brand exposure.
Achievements of BUD:
- Increased Market Awareness: Through collaboration with KOLs, they successfully attracted the attention of a significant number of domestic consumers.
- Stable Supply Chain: The establishment of a procurement department in Shenzhen ensured a stable supply of raw materials and quality control.
- Professional Team Support: Newly recruited employees brought expertise in marketing strategies, making the brand more competitive in the domestic market.
- Business Growth: With the support of BUD and professional marketing strategies, the company opened up new opportunities for sales in the Greater Bay Area.
Japanese Brand Hat Manufacturer and Wholesale - BUD Domestic
The company is a long-established small and medium-sized enterprise (SME) in Hong Kong with eight employees. They primarily engage in wholesale distribution of Japanese brand hats. In addition to exports, their products are also sold through distributors in major department stores across Hong Kong. Their annual turnover is approximately 5 million HKD. In 2021, the company plans to establish a Tmall online store in mainland China and invest in online advertising to further expand their business.
BUD Project Application Amount: Approximately 1.2 million HKD
BUD Approved Amount: Approximately 600,000 HKD
BUD’s projects include:
- Establishing a business unit in mainland China.
Hiring two additional employees in Hong Kong to manage operations in mainland China. - Setting up a Tmall store and hiring a Tmall operator in mainland China.
- Launching online advertising campaigns.
Shooting product photos and videos.
Our professional insights:
Since 2019, operating an online store in mainland China requires obtaining an e-commerce business license. In simple terms, companies must have a mainland Chinese entity and include “online operation” as their business scope when applying for the business license. BUD requires all projects involving mainland online stores to obtain an e-commerce business license in advance. We can also assist clients in addressing the challenges related to obtaining licenses in mainland China due to COVID-19 related border restrictions through our established relationships.
The project involves advertising and promotion of Japanese brands. To do so in mainland China, companies must register their trademarks there. However, the formal issuance of trademark registration certificates typically takes close to a year. Nevertheless, confirmation of trademark registration application acceptance by the Chinese National Intellectual Property Administration is acceptable to the BUD fund approval authorities. This is a common misunderstanding among business applicants.
It is feasible to hire employees in Hong Kong to handle mainland China operations; it is not mandatory to hire locally in mainland China. Since the company operates only an online store without physical outlets, hiring an operating partner in mainland China to manage day-to-day operations can be considered.
Beauty Equipment Agent - BUD Macau 🇲🇴
A beauty equipment agency located in Mong Kok, with an annual income of approximately 8 million Hong Kong dollars. They primarily act as agents for advanced beauty equipment, such as laser spot removal, skin tightening, and body contouring, serving beauty salons and SPA centers in the Hong Kong area. The company also offers related technical training and after-sales service. Seeing the rapid development of the tourism and entertainment industry in Macau, the company decided to enter the Macau market in 2020, bringing its high-quality products and services to consumers in Macau.
BUD Project Application Amount: Approximately 2.06 million Hong Kong dollars BUD Approved Amount: Approximately 1 million Hong Kong dollars
BUD’s projects include:
Renting a showroom or office space in Macau city to showcase the company’s beauty equipment.
Recruiting and training three local staff in Macau, responsible for sales, technical support, and customer service.
Establishing a website tailored for the Macau market and advertising on popular Macau websites and social media platforms.
Participating in two beauty and health exhibitions in Macau/Zhuhai to increase brand awareness and seek collaboration opportunities.
Our professional recommendations:
To establish a foothold in the Macau market, finding and training the right sales and technical support teams is crucial.
We suggest the company prioritize investment in recruiting and training local staff to familiarize them with the company’s products and culture.
Furthermore, renting a showroom or office space in key areas of Macau will help attract potential customers and partners.
To increase brand exposure, we recommend a comprehensive approach to both online and offline promotion, including consideration of participation in beauty and health-related exhibitions in Macau.
ERP Technology Solutions Company - BUD Canada 🇨🇦
The company is an IT solutions firm located in Tsim Sha Tsui, with an annual income of approximately 15 million Hong Kong dollars. It primarily offers customized IT solutions to medium to large enterprises in the Hong Kong and Macau regions, including services like cloud computing, big data analytics, and enterprise resource planning (ERP) systems. The company not only provides software solutions but also offers related system integration and technical support services. Considering the growing technology demand in North America, the company decided to enter the Canadian market in 2022, bringing its advanced technology and services to the local market.
BUD Project Application Amount: Approximately 1.75 million Hong Kong dollars BUD Approved Amount: Approximately 840,000 Hong Kong dollars
BUD’s projects include:
Renting office space in downtown Toronto to provide local customers with real-time technical support and services.
Recruiting and training three Canadian employees, with one responsible for technical support and two for sales and market development.
Establishing a professional website tailored for the Canadian market and advertising on local professional IT websites and social media platforms.
Participating in major IT exhibitions and conferences in North America to establish the company’s brand image and industry connections locally.
Our professional recommendations:
The Canadian IT market holds immense potential but also faces intense competition. To succeed in this market, establishing a professional local team is crucial. We suggest the company prioritize investment in recruiting and training local technical and sales teams in Canada.
Furthermore, it is advisable to rent office space in major cities like Toronto or Vancouver to facilitate collaboration and communication with local businesses.
To enhance brand visibility, we recommend active participation in Canadian IT exhibitions and conferences and advertising on local professional media platforms.
