It’s difficult to do business in Hong Kong now. How can we carve out a way out or lay the foundation for success in the adverse market? Government funding may be a lifeline.
Get money from the government? Is it easy? Getting money from the government is never easy.
The Hong Kong government provides dozens of types of subsidies to private organizations, but the two main types of funds suitable for general small and medium-sized enterprises are BUD (Special Fund for Brand Development, Upgrading and Transformation, and Domestic Market Expansion) and TVP (Technology Voucher).
The government has set strict rules for applying for funding, and you must comply with all requirements before you can ultimately receive government funding. The general approach is that the applicant first funds the implementation of the project, and after completion, submits it to an accountant for audit, and submits all documents required for the procedure to the government for further review; only those who are qualified will receive the subsidy amount. However, if the intermediate process fails to strictly comply with the government's requirements, the money may be used in the end, but will not receive government subsidies, and it will be spent in vain, which will really cost you both your wife and your army.
As an auditor for these government-sponsored companies, our company has witnessed many cases where approval was ultimately disapproved. In order to avoid similar "tragedies" from happening, it is recommended that you follow the procedures when you start to apply: first obtain our company's audit quotation, and after the plan is approved, notify and appoint our company as the auditor of the project as soon as possible. Our company will provide useful guidance. If you have any questions during the implementation process, you can also consult our company to provide opinions to make the process smoother. In the end, you can obtain the expected funding, successfully implement the plan, and help business development.
If you have any questions about applying for various government subsidies, please contact our company.
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