A better business strategy than government support
2024-10-25
The "Chief Executive Policy Address" released on October 16 focused on the following two points in terms of policies to assist small and medium-sized enterprises:
1. Reintroduction of "interest repayment without principal repayment": Borrowing companies under the "Small and Medium Enterprise Financing Guarantee Scheme" are allowed to apply for "interest repayment without principal repayment" for up to 12 months, and the maximum loan guarantee period of 80% and 90% of the credit guarantee will be Extended to ten and eight years. Note: This is not an automatic arrangement. Borrowing companies need to apply to banks individually. The bank's terms are not yet known, and the application takes time.
2. Inject 1 billion dollars into the "BUD Special Fund": Use the BUD Fund to assist small and medium-sized enterprises to upgrade, transform and expand new markets; expand the geographical funding scope of "E-Commerce Easy" to the ten ASEAN countries. Note: The application procedures have not changed and are still complicated. It still takes a long time from application to receipt of the first tranche of funds.
In the 1980s and 1990s, the British Hong Kong government pursued a "positive non-intervention policy" and provided virtually zero support to small and medium-sized enterprises. However, Hong Kong entrepreneurs have created an economic miracle with their "entrepreneurial spirit", or "Lion Rock Spirit" and their hard work and flexibility. In the new millennium, these entrepreneurial spirits gradually faded. Facing a difficult environment, they will only ask the government to send money and policy support instead of self-regulation and flexible business strategies, causing the economy to become flat.
In fact, no matter how the government provides support, it is only short-term and auxiliary in nature. Constant self-improvement and flexibility are the way to do business.
Our company has more than 30 years of practical business experience and can provide comprehensive business support services to friends with entrepreneurial spirit. To achieve sustainable development and find reliable partners, please feel free to contact us.
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