Hong Kong’s SMEs have been hit hard in recent months under the U.S.-China trade tensions and particularly the violent and destructive demonstrations in the city.

A wide range of support schemes for SMEs are available from the Hong Kong Government and other quasi-governmental organizations, and many of these have been enhanced recently to provide additional help.

To help members understand what help is available, and how to access these funds and other support, the Chamber teamed up with the Trade and Industry Department (TID) for a seminar – with both Chinese and English versions – and a roadshow with consultation booths on 21 November.

Speaking at the seminar, Kaho Ng, Principal Trade Officer of TID, introduced the four main SME Centres: the TID’s SUCCESS; HKTDC’s SME Centre; SME One under the Hong Kong Productivity Council; and TecONE at the Science Park. Each of these offer general help to SMEs as well as more specific advice in certain areas. 

For example, SUCCESS gives general advice, organizes seminars and activities, and provides library facilities. But it also offers more specific information about government licences for operating businesses. SUCCESS also has a programme to connect SMEs with experts across 25 business sectors for advice.

“That expert will give you 30 minutes of one-on-one business advice, free of charge,” Ng said.

He explained that these four centres are being consolidated to offer a more streamlined service. In addition, in January the TID plans to launch a new team focused on giving advice on applying for funding. 

“We will set up a dedicated service to help with funding applications, to increase awareness of these programmes and to give advice on filling in forms and the documents required,” he explained.

This plan is welcome news, as many Chamber members have reported that the application process for funding schemes is complicated and highly bureaucratic.

There are around 40 funding schemes available, and Ng ran through ten of the major ones currently in operation. Many of these have been enhanced in recent months to better help SMEs cope with the ongoing turbulence. For example, the SME Financing Guarantee Scheme, borrowers can now have a six-month moratorium on paying back the principal of the loan, giving them a buffer zone of cash during this most difficult period.

Other schemes Ng mentioned included the microfinance programme, which provides loans to self-employed or for people to start a business; The Technology Voucher Programme, a two-for-one fund-matching scheme to help companies upgrade their tech; and a grant to help innovators apply for patents.  

Consultation Booths

Representatives from the below organizations provided on-site consultation to members about their programmes, the funding available, and how to apply.

‮•‬ Hong Kong Export Credit Insurance Corporation ‮•‬ HKMC Insurance Limited ‮•‬ Dedicated Fund on Branding, Upgrading and Domestics Sales (BUD Fund) 

‮•‬ SME Export Marketing Fund ‮•‬ Technology Voucher Programme ‮•‬ Support and Consultation Centre for SMEs (SUCCESS) under TID 

‮•‬ ASME Centre under the Hong Kong Trade Development Council ‮•‬ TecONE under the Hong Kong Science and Technology Parks Corporation

‮•‬ AHong Kong Cyberport Management Company Limited ‮•‬ HKPC Academy‮!‬ABank of China (Hong Kong) ‮•‬ Hang Seng Bank Ltd

‮•‬ AThe Hongkong and Shanghai Banking Corporation ‮•‬ Standard Chartered Bank (Hong Kong) ‮•‬ HKT ‮!‬AHKGCC Certification Services