“BUD Fund - Enterprise Support Programme” Quarterly Update (July 2015)

The Enterprise Support Programme of the Dedicated Fund on Branding, Upgrading and Domestic Sales (the BUD Fund) has processed a total of 961 applications up to the end of June 2015, amongst which 321 applications were approved/granted conditional approval (around 33.4%). The total amount of funding approved is about $105 million.

The grantees come from various industries including watches and clocks, and jewellery; electronics; electrical appliances; textiles and clothing; plastics; toys; metal products; machinery; food and beverages; wine; cosmetics; IT; logistics; creative industries and professional services.

For example, in the watches and clocks, and jewellery industries, the Programme has until now provided funding support to 31 enterprises amounting to over $14 million. The approved projects are very diversified in nature. They range from rebranding a 50-year-old-plus company to expand its clientele; setting up an online shop in popular e-commerce platforms for online-to-offline operation, while redesigning the corporate image to draw new customers; developing new jewellery products and employing advanced production machinery for the Mainland market; to advertising, hiring of staff to develop new sale points, and participating in exhibitions in the Mainland.

To help Hong Kong enterprises develop the Mainland market, the HKSAR Government introduced in June 2012 the $1 billion BUD Fund. It aims to assist enterprises in enhancing their competitiveness and furthering business development in the Mainland through developing brands, upgrading and restructuring operations and promoting domestic sales. The BUD Fund comprises two programmes, “Enterprise Support Programme” and “Organisation Support Programme”, providing funding support to eligible enterprises and non-profit distributing organisations respectively.

The Hong Kong Productivity Council (HKPC) is the Secretariat of the Enterprise Support Programme. To facilitate enterprises in application, the Secretariat also offers free one-hour face-to-face consultation service.

Applications for the Programme are accepted all year round with vetting being held every three months. The next cut-off time for applications will be September 30, 2015.

For more information, please visit the programme website: www.bud.hkpc.org; or contact the Secretariat at tel.: (852) 2788 6088 or email: bud_sec@hkpc.org. For other media enquiries, please contact Felix Chan of HKPC’s Corporate Communication and Marketing Division at tel.: (852) 2788 5036 or email: felixchan@hkpc.org.

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Mr Jonathan Ho
General Manager
Corporate Communication and Marketing
Tel: (852) 2788 6390
Fax: (852) 2788 5056
Email: jonathanho@hkpc.org
Website: www.hkpc.org

15 July 2015