A new round of optimization measures for the "BUD Special Fund"
The new round of optimization measures implemented by the “BUD Special Fund” from January 20, 2020:
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Expand the geographical scope of funding of the “BUD Special Fund” to cover all economies that have signed free trade agreements (free trade agreements) with Hong Kong#。
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Increase the cumulative funding limit for each enterprise to 4 million yuan, including 2 million yuan for the implementation of projects in the Mainland and 2 million yuan for the implementation of projects in ASEAN and other free trade agreement economies.
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Increase the initial funding ratio from 25% of the total approved government funding to as high as 75%.
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Increase the initial funding ratio from 25% of the total approved government funding to as high as 75%. Exempt the funded enterprise from opening and maintaining a separate interest-bearing account, and the requirement to deposit equivalent funds in the account before receiving the initial funding.
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All projects (including those that choose to apply for the first grant) can be carried out after submitting the application form.
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Relax the upper limit of the budget ratio of individual expenditure items (including purchasing/renting additional machinery/equipment, making samples/models, trademarks, patents (design/utility model patent registration)).
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Add more projects that can be funded (including setting up new business units in the Mainland, purchasing/lease of additional machinery/equipment under the Mainland plan to increase production capacity, etc.).
# Including Mainland China, New Zealand, 4 European Free Trade Association countries (ie Iceland, Liechtenstein, Norway and Switzerland), Chile, Macau, 10 ASEAN countries, Georgia and Australia.
A special fund for brand development, upgrading and transformation, and expansion of the domestic market
application form
All non-listed companies that are registered in Hong Kong in accordance with the Business Registration Ordinance (Chapter 310) and have substantial business operations in Hong Kong are eligible to apply for funding. Regardless of whether they are engaged in manufacturing or service industries, or whether they have business operations in Mainland China and free trade agreement economies, they are all eligible to apply for funding.
Funding
The subsidy is based on the 1:1 principle, that is, the government subsidizes up to 50% of the total approved expenditure of an individual project, and the enterprise must bear no less than 50% of the total approved expenditure of the project. During the application period of the fund，Maximum subsidy of HK$1 million per applicationCapitalhelp，Each company can earn up to 4 millionHong Kong dollarCapitalhelp。
Project Time
Each funded project must be completed within 24 months.
Scope of funding
Companies can apply for funding for projects that develop brands, upgrade and transform, and/or expand markets in Mainland China and free trade agreement economies.
BUD Special Fund
BUD專項基金申請:
- Evaluate business plan and budget
Our fund consultant will first evaluate the client’s business and project budget to ensure that it meets the evaluation principles of the BUD special fund
- Assist in preparing application plan
We will assist Kehui to prepare the required documents for the application, including the application plan and check the documents submitted by the client
- Assist in responding to queries from the Secretariat
After submitting the application, the BUD Secretariat will generally ask questions about the plan and ask for more detailed explanations
- Explain the reimbursement procedures after the project is approved
After the application is successful, it will enter the procurement process, and our special fund consultant will explain the reimbursement process in the future.
Plan scope
(1) Brand development: corporate brand vision, product and service planning; brand image and style development, brand rebuilding services; brand evaluation and brand protection services; brand property rights research and brand sustainability investigation services.
(2) Upgrade and transformation: from original equipment manufacturer (OEM) to original design manufacturer (ODM) or private label manufacturer (OBM); product strategy, new product development; manufacturing technology upgrade, process and business automation; management System, business process reorganization, quality improvement; warehouse management, fleet management and distribution management system improvement, etc.
(3) Expansion of domestic sales: domestic sales strategy formulation; operation transformation; distribution channel development, publicity and promotion activities implementation, etc.
Additional information about special funds
Project supervision
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Project implementation time |
Progress report and annual audited accounts |
Final report and final audited accounts |
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18 months or less |
No need to submit |
Submit within 2 months after project completion |
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Over 18 months to 24
Months
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Need to submit covering the first 12 months of the project’s implementation
Progress report; and annual audited accounts
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Submit within 2 months after project completion |
Grants issued
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Issuing method
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To apply for the first grant:
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Do notClaimInitial funding：
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Project implementation time is 18 months or less
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-Initial funding: 75% of the total funding approved by the government -Final Appropriation: Funding balance |
-Initial funding: Not applicable -Final appropriation: approved expenditures borne by the government in the approved expenditures of the project |
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Project implementation time is more than 18 months to
24 months
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-Initial funding: 75% of the total funding approved by the government -Final Appropriation: Funding balance
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-Initial funding: Not applicable -Mid-term funding*: up to 50% of the total approved government funding in the project approved expenditure
-Final Appropriation: Funding balance
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