The Enterprise Support Programme of the Dedicated Fund on Branding, Upgrading and Domestic Sales (the BUD Fund) has approved funding of over $250 million for Hong Kong enterprises to develop brands, upgrade and restructure operations and promote domestic sales since its launch in June 2012. To speed up the implementation of BUD projects, the Programme launched the additional "ESP Normal Track – Simplified Option" in October 2016.
A key highlight of ESP Normal Track – Simplified Option" is that an enterprise can start implementing the project on the day after submitting the application and without having to wait for the signing of the agreement. Once the application is approved, the grantee will receive the fund via reimbursement after audit check. The grantee will not have to open a dedicated bank account for funding transactions. Yet, initial payment is not applicable under the ESP Normal Track – Simplified Option scheme. The application eligibility, funding scopes, the 24-month project implementation period and $500,000 funding ceiling of ESP Normal Track – Simplified Option are the same as a general BUD-ESP project.
For more information about the Enterprise Support Programme of the BUD Fund, please contact us.