When our company owners first started their accounting business 10 years ago, we have very limited resources. We didn’t have resources to buy the top quality commercial printer. We also didn’t have the luxury resources to purchase client management software. We made use of the Microsoft excel to do most of the data storage in the past. When time passed by, our company has grown and we have ample of resources to purchase whatever equipment, software and hardware we want. While Get Started HK has become the best company formation agent in Hong Kong, our core members always remember the hard times how we struggled to survive at the very beginning.
We truly understand the pain of entrepreneurs and start-ups. When you don’t have sufficient resources to purchase the necessary equipment, it is often an obstacle to develop your company. If you don’t invest and develop fast enough, your competitor may already take all the market shares before you are ready to compete.
Some entrepreneurs will look for angel investors so they can have instant funds to run and expand the company. For those hardworking entrepreneurs, especially those who are the sole director and shareholder of the company, we understand you spent days and nights working on your company’s website, Facebook page, Instagram, digital marketing, logo design, product development, etc. For non-business owners, they may not be able to understand the efforts behind each little step. A company is like the baby of an entrepreneur. We don’t want to sell our ownership, not even 1 percent of it.
I am sure many entrepreneurs have faced the same dilemma. Should we sell part of our ownership so we can have cash to develop the company quickly? Or should we keep all the shares and work on our projects gradually?
Luckily today we have a solution. There is no need to sell a single share of your company. The Hong Kong Government has introduced the SME loan guarantee scheme in which the Government will support small and medium enterprises to acquire equipment or to meet working capitals required for general uses.
The Hong Kong 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. The offer is quite generous and it should be sufficient to boost your business development in short time. Successful applicant can even participate in the scheme for more than one time.
Business installations or equipment cover the following:
- communication system
- computer software and hardware
- 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. The scheme is so flexible and this is to make sure small enterprises can sharpen their competitiveness and thrive in the market.
Eligibility for application
After the Hong Kong business registration process is completed, the central business management and operation must be in Hong Kong in order to apply for the SME Loan Guarantee Scheme.
If you have already register a business in Hong Kong and want to prepare a cash flow financial projection for the SME loan guarantee scheme, you can contact us at email@example.com. If you are interested in Hong Kong company setup, you can contact our Hong Kong incorporation team for details.