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Government Support in Hong Kong Resources

Creative Smart Initiative

The HKSAR Government introduced the “CreateSmart Initiative” in 2009 and has injectedapproximately US$80 million to support the development. Purpose of the funding program is to develop better creative industries in Hong Kong in which activities are related to advertising, architecture, design, digital entertainment, film, publishing and printing, television and music.In general, successful applicants will receive the funding support as a grant.

If you are interested in this government funding, your program must meet the followings:

  • To foster talents in the creative industry
  • To support development of creative establishments
  • To increase demand and market size of the creative industry
  • To support expansion in new market, that is the Mainland China or overseas
  • To facilitate exchange of experience in the community

SME Development Fund

The HKSAR Government is supportive to non-profit distributing organisations. The scheme has a ceiling of $5 million for each project. In certain cases, applicants must contribute 10% of the project expenditure in cash or in any other forms.

Purpose

The purpose of the project is to improve the competitiveness of SMEs in general or a certain industry. The fund can be used on the followings:

  • Additional Manpower
  • Additional Equipment
  • Expense for consumables
  • Expenses for production and promotion.
  • Travelling Expense
  • External audit fees
  • Patent registration fee.

There are some restrictions in spending the funds and they are:

  • Rental
  • Office or venue renovation
  • Electricity and water bill
  • Entertainment expenses

Eligibility for application

If your business is a company limited by guarantee and intend to have central business management and operation in Hong Kong, you are eligible for application(s).

SME Export Marketing Fund

The Government of the HKSAR has introduced the SME Export Marketing Fund. The purpose is to support business to penetrate in new market outside Hong Kong. The Government can provide HK$50,000 for each approved project. A company can at most apply for the Export Marketing fund for 4 times.

Scope of the fund

Financial assistance will be provided for:

  • Trade fairs inside Hong Kong, while it targets markets outside Hong Kong
  • Trade exhibitions outside Hong Kong
  • Business missions outside Hong Kong
  • Advertisements outside Hong Kong.
  • Promotion activities via electronic platform, including but not limited to advertisement in search engine, online shop.
  • Setting up or enhancement of a corporate website of the applicant enterprise which mainly target at markets outside Hong Kong.

SME Loan Guarantee Scheme

The Government of the HKSAR supports small and medium enterprises by introducing the SME Loan Guarantee Scheme. Purpose of the scheme is to support small and medium enterprises to acquire equipment or to meet working capitals required for general uses.

The government can provide up to 50% guarantee of the loan amount.The ceiling is cap at $6 million (HKD) and there is a maximum 5-year guarantee period. Successful applicant may participate in the scheme for more than one time

Business installations or equipment cover the following:

communication system
computer software and hardware
fixtures
tools
machinery
office furniture
office equipment

There is no restriction whether installations need to be inside Hong Kong. Moreover, the loan can be spent on second-hand installations and equipment.

Eligibility for application

If your business has central business management and operation in Hong Kong, you are eligible for application(s).

Special Loan Guarantee Scheme

The HKSAR Government introduced the Special Loan Guarantee Scheme. Purpose of the scheme is to cope with SME’s liquidity problem during the global financial crisis. The scheme has a ceiling of 12 million for each enterprise. The guarantee can at most cover 80%, and a period of 60 months.

Limitation of the loan

While funds can be used for general business operation, one must note that the loan cannot be used for paying current loans. Moreover, the scheme requires personal guarantee from the business owner(s)/ shareholders who have more than half of the equity interest.

Eligibility for application

You are eligible for applications if your company fulfills the following requirements:

  1. Registered in Hong Kong
  2. Physical presence in Hong Kong.
  3. Active company for not less than 365 days.
  4. No other outstanding matters with other financial institutions.
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