The “BUD Fund” Launches “E-commerce Easy” Empower Hong Kong Enterprises in Seizing Mainland Opportunities

(Hong Kong, 15 July 2024) The Hong Kong Productivity Council (HKPC) held the launching ceremony today announcing the “E-commerce Easy” under the Dedicated Fund on Branding, Upgrading and Domestic Sales (“the BUD Fund”), which enables enterprises to make use of HK$1 million for the implementation of e-commerce projects in the Mainland within the cumulative funding ceiling of HK$7 million.

Since 2012, the HKSAR Government has entrusted HKPC as the executive body of the “the BUD Fund”. The fund aims to assist enterprises with expanding their businesses in the mainland market through brand development, upgrading and transformation. To better support local enterprises, the Government has continuously introduced enhancement measures. In June 2023, “Easy BUD” under “the BUD Fund” was launched to expedite the processing of “the BUD Fund” applications to encourage more enterprises to make use of the funding to develop their businesses. To further support small and medium-sized enterprises (SMEs) to seize business opportunities in the Mainland, enterprises can now make use of “E-commerce Easy” to apply for funding for specific purposes. The scope of the subsidy includes the establishment of online sales platforms, placement of advertisements, development or enhancement of mobile applications and company websites and implementing other measures related to e-commerce.

Officiating the launching ceremony of “E-commerce Easy”, Mr Algernon YAU, Secretary for Commerce and Economic Development of HKSAR Government, "In the first half of this year, ‘the BUD Fund’ has approved close to 1,000 applications involving a total grant of about HK$730 million, representing an increase of more than 30% over the same period last year. Since the launch of the ‘Easy BUD’ last year, close to 300 applications involving a total grant of over HK$21 million have been approved as at the end of last month, the response from the industry has been very favourable. The Government encourages enterprises to implement e-commerce projects through the new ‘E-commerce Easy’ and a series of enhancement measures, so as to proactively capture the opportunities brought about by the Mainland e-commerce market and develop the vast potential of the domestic market.”

Ms Vivian LIN, Chief Operating Officer of HKPC, said, “The Government Funding Schemes Management Centre of HKPC is committed to serving Hong Kong SMEs and various organisations, striving for excellence in executive arm and secretariat works. As the implementer of ‘the BUD Fund’ and the secretariat of 10 Government funding schemes, HKPC has been committed to assisting small and medium enterprises and startups by providing timely Government funding information. The newly launched ‘E-commerce Easy’ responds to the needs of the industry, further bolstering support for Hong Kong enterprises to expand into the mainland market through e-commerce platforms.”

Funding under “E-commerce Easy” will continue to be provided to grantees on a matching basis, with enterprises having the flexibility to select the initial grant, with the funding ceiling for each project being HKD $1 million. All approved “E-commerce Easy” projects must be completed within 24 months.

Ms LIN added that traditional industries such as import/export and wholesale/retail may face greater challenges in driving business upgrades and transformations. She encouraged enterprises, especially SMEs, to leverage the HK$1 million funding to undertake e-commerce initiatives. She believes the new measure will help alleviate the capital constraints faced by SMEs, and in turn support their import/export trade endeavours.

In addition to managing 10 Government funding schemes, HKPC's "SME ReachOut" is dedicated to helping SMEs identify and apply for the most suitable Government funding programmes. Over the past few years, the team has reached out to over 47,000 local SMEs and answered their queries on the application process. The team provides free one-on-one consultation services, encouraging SMEs to leverage Government funding to upgrade and transform their businesses, and offers comprehensive support to help enterprises sustain their long-term development.

For more information about “BUD Fund - E-commerce Easy” , please visit: https://www.bud.hkpc.org/en/

For the latest information about BIZ Expands Easy (BEE)^* funding portal and BEE ePass service, please visit: https://bee.hkpc.org/en/

^*BEE is a one-stop integrated platform developed by HKPC, consolidating information of various government funding schemes covering digitalisation & cyber security, smart & green living, SME & startup support, enabling different industry sectors to explore funding resources and support for business development.

- Ends -

Mr Algernon YAU, Secretary for Commerce and Economic Development (second right), together with Ms Maggie WONG, Director-General of Trade and Industry (first right); Hon Sunny TAN, Chairman of HKPC, (second left); and Mr Mohamed BUTT, Executive Director of HKPC (first left), officiate at the launching ceremony of “E-commerce Easy”.

Mr Algernon YAU, Secretary for Commerce and Economic Development, speaks at the launching ceremony of “E-commerce Easy”.