Government-Funded Advisory Services (BUD Dedicated Fund)

What is the BUD Dedicated Fund?

The “BUD Dedicated Fund,” officially known as the Dedicated Fund on Branding, Upgrading and Domestic Sales, was established by the Hong Kong Special Administrative Region Government in 2012. It aims to provide funding support to Hong Kong enterprises for projects focused on brand development, upgrading and transformation, and market expansion in mainland China and economies with free trade agreements (FTAs) with Hong Kong, ultimately enhancing their competitiveness.

BUD Dedicated Fund: Funding Scope, Eligibility, Details, Application Process, and Notes

Funding Scope

The BUD Dedicated Fund supports Hong Kong enterprises in three key areas:

  1. Branding:
    • Covers activities such as brand strategy development, market promotion, and packaging design to enhance brand recognition and reputation.
  2. Upgrading:
    • Supports investments in technology research and development, equipment upgrades, and staff training to improve production efficiency and product quality.
  3. Domestic Sales:
    • Funds market research, participation in exhibitions, and promotional activities to expand into mainland China and markets under free trade agreements (FTAs) with Hong Kong.

Application Eligibility

  • Business Status: Non-listed enterprises registered in Hong Kong with a valid Business Registration Certificate under the Business Registration Ordinance (Chapter 310).
  • Operations: Must have substantial business operations in Hong Kong and provide relevant supporting documents.

Funding Details

  • Funding Ratio: Operates on a matching basis, with the government covering up to 50% of the total approved project expenditure.
  • Funding Cap:
    • Maximum funding per project: HKD 1 million.
    • Cumulative funding cap per enterprise: HKD 7 million.
  • Project Limit: Each enterprise can receive approval for up to 70 projects.

Application Process

  1. Submission:
    • Enterprises must complete the application form and submit required documents, such as a copy of the Business Registration Certificate, financial statements, etc.
  2. Review Process:
    • Applications are evaluated by the Program Management Committee, and additional information may be requested during the process.
  3. Agreement Signing:
    • Upon approval, the enterprise signs a funding agreement with the implementing agency.
  4. Project Implementation:
    • The enterprise carries out the project as planned and submits periodic progress reports.
  5. Funding Disbursement:
    • Funding is disbursed in installments, depending on project progress.

Notes

  • Accuracy: Applicants must ensure all submitted information is accurate and provide all required documents as stipulated.
  • Timeline: Projects must be completed within the approved timeframe and achieve the intended objectives.
  • Record-Keeping: Enterprises must maintain proper records of project-related documents for audit purposes.

Through the BUD Dedicated Fund, Hong Kong SMEs can access financial support to further expand into mainland China and FTA markets, boosting their competitiveness.