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Small & Medium Enterprises CommitteeCommittee Activities

 

SME Committee Enjoys Exclusive Visit to ICAC

SME Committee Chairman Norman Yeung and Vice Chairman Thomas Su were among the members who joined the committee’s visit to the ICAC Open Day on 16 July. Participants enjoyed a guided tour of ICAC facilities including the exhibition hall, mock video interview rooms, the identification parade suite and firearms display.

Members also had the opportunity to speak to Anna Lam, Executive Director and Daniel Hui, Deputy Executive Director of the Hong Kong Business Ethics Development Centre at ICAC, about the latest corruption and malpractice risks affecting businesses. She also updated members on the ICAC’s ongoing work to promote integrity and good working practices at all companies.

2022/07/16
ESG Matters Ltd

ESG for SMEs to Prepare for the Future - Tech for Good

The changing global regulatory environment means that SMEs may soon need to join listed companies in providing annual ESG reports. At our hybrid event on 13 July, three speakers from ESG matters – Founder Dr Glenn Frommer, Technical Director James Choi and Lavin Yeung, Head of Business Development and Marketing -- shared their insights on the latest developments in the global ESG space and how small businesses can take the first steps.

For example, SMEs can start by monitoring their energy use, offer training on sustainability to employees, and collect data on their staff diversity and well-being. Besides staying ahead of regulations, having ESG policies in place can also help make businesses more competitive, enable them to more easily secure funding from banks and investors, and attract and retain talent.

2022/07/13
Macroeconomic Outlook After the Pandemic: Recovery Tactics for Hong Kong Businesses

Macroeconomic Outlook After the Pandemic: Recovery Tactics for Hong Kong Businesses

Thomas Shik, Chief Economist, Head of Economic Research Global Markets, Hang Seng Bank, shared his insights on the macroeconomic outlook in the coming quarters at a seminar on 7 July. He said that although he feared the global economy was facing a new downturn due to the lingering pandemic and geopolitical issues, he expected that domestic demand and government policies would help to boost Hong Kong’s economy in the second half of 2022.

Speaking at the same event, Jason Chak, Senior Vice President, Global Liquidity and Cash Management, Hang Seng Bank, shared some suggestions on cross-border trade banking solutions for Hong Kong businesses.

2022/07/07

SME Committee Meeting

Wanny Hui, Manager, Design Gallery, Hong Kong Trade Development Council, introduced the TDC’s cross-border online store on JD International at the SME Committee meeting on 24 June. He also explained how the store, called “Hong Kong‧Design Gallery,” could help local business to enter the Mainland market in an inexpensive and convenient way, while enhancing their brand image and popularity.

At the same meeting, Norman Yeung, Angela Lee and Thomas Su were re-elected as Chairman and Vice Chairmen respectively.

2022/06/24

VAT Refund for SMEs in China

Mainland China announced a new VAT rebate policy in March this year. This new measure, known as “Further Intensifying the Implementation of Policies for the Refund of the Period-end Uncredited VAT,” strengthens the VAT credit and refund policy, and is expected to increase this year's tax refunds to 1.64 trillion RMB in total. Foreign businesses in China in certain sectors, including SMEs, are set to benefit from these refunds.

To help members understand this development, three experts from Deloitte -- Charles Gong, Tax Partner; June Qu, Tax Director; and Janice Xu, Tax Manager -- shared their insights on the policy with members at a Chamber webinar on 8 June.

The panel also gave detailed explanations on some other common tax issues that businesses encounter in the Mainland, such as tax refund procedures, tax credit rating, and calculation of tax refund amount.

2022/06/08
At a webinar on 28 April, Doris Ho, Head of Policy Innovation and Co-ordination Office, and Sam Sze, Partner, of PwC Hong Kong – the Government-appointed agent for ESS -- introduced the updated scheme and briefed members on the application process.

2022 Employment Support Scheme

The 2022 Employment Support Scheme (ESS) opened for applications on 29 April, with around 1.74 million workers eligible under the HK$8,000-per-month subsidy from May to July.

At a webinar on 28 April, Doris Ho, Head of Policy Innovation and Co-ordination Office, and Sam Sze, Partner, of PwC Hong Kong – the Government-appointed agent for ESS -- introduced the updated scheme and briefed members on the application process.

Ho told members that the current scheme was more flexible that the previous tranche by allowing applicants change the number of employees on a month-by-month basis, to take into account changing market conditions.

Self-employed people can also apply for a one-off subsidy under the ESS.

2022/04/29

SME Committee Meeting

Shirley Kwong and Jaff Lau, Commercial Banking Experts from HSBC Hong Kong, spoke at the SME Committee meeting on 30 March. They updated members on the latest enhancements to the Government’s SME Financing Guarantee Scheme, and introduced a number of their services to help SMEs digitalise their businesses.

At the same meeting, the “SME Marketplace” was held, with two committee members introducing their products and services to fellow attendees.

2022/03/30
Experts summarised the 2021 performance of international trade and the supply chain and projected the upcoming trends for international trade in 2022.

Market Outlook for the First Half of 2022: Strategies on International Trade and Supply Chain for SMEs

The persistent border closures and other anti-Covid measures have hindered global supply chain flows, leading to escalating business costs. Shirley Kwong and Jaff Lau, Commercial Banking Experts from HSBC Hong Kong, summarised the 2021 performance of international trade and the supply chain at a seminar on 20 January. They also shared their thoughts on future developments, and said that a sustainable and more stable supply chain would become the major focus.

At the same event, Ivy Tse and Tyrell Au, specialists in the global supply chain from FrieghtAmigo, projected the upcoming trends for international trade in 2022 and introduced the FreighTech and FinTech solution, which aim to help SMEs to increase their productivity amid a tough economic climate.

Kenneth Poon from Hong Kong Export Credit Insurance Corporation shared some tips on how SMEs can better protect themselves in the current turbulent times. He suggested SMEs should be aware of both pre-shipment and post-shipment risks, and can protect their businesses through risk transfer mechanisms.

2022/01/20
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