HOW TO APPLY DEDICATED FUND ON BRANDING, UPGRADING AND DOMESTIC SALES (THE BUD FUND)
“Dedicated Fund on Branding, Upgrading and Domestic Sales” (the BUD Fund) was set up in June 2012. The Fund aims to provide funding support to assist Hong Kong enterprises in exploring and developing the Mainland China market through developing brands, upgrading and restructuring operations and promoting domestic sales in the Mainland.
To help more SMEs, including start-ups, grasp economic opportunities and boost their competitiveness, the Government enhanced the BUD Fund so as to provide funding support for enterprise to undertake projects for developing the Mainland markets (the Mainland Programme) and the ASEAN markets (the ASEAN Programme).
$2,000,000 BUD FUND
- What is the funding amount?
Funding will be provided on a matching basis, i.e. the Government will cover a maximum of 50% of the total approved project cost (except the audit fee of approved project) and the enterprise has to contribute no less than 50% of the total approved project cost in cash.The cumulative funding ceiling per enterprise under the “Mainland Programme” is HK$1,000,000 while the cumulative funding ceiling per enterprise under the “ASEAN Programme” is HK$1,000,000. (Including audit fee).
- Aim of Programme
To provide funding support for individual Hong Kong enterprises to undertake projects to develop brands, upgrade and restructure their business operations and promote sales in the Mainland and in the ASEAN, so as to enhance their competitiveness and to facilitate their business development in the Mainland and in the ASEAN.
- Who are eligible to apply?
All non-listed enterprises registered in Hong Kong under the Business Registration Ordinance (Chapter 310) with substantive business operations in Hong Kong are eligible to apply, irrespective of whether they belong to the manufacturing or service sector, and whether they already have any business operations in the Mainland or in the ASEAN.For an application which involves project implementation (such as equipment purchase or local hiring of Mainland or ASEAN employees) by the Mainland or ASEAN entity of the applicant, the applicant must provide documentary evidence proving its direct investment relationship with the Mainland or ASEAN entity.