Covid-19 Subsidies and Support: Hong Kong

BY Christa Nuijs | March 25, 2020

Category : Funding

During these uncertain times, governments and organisations are taking financial measures to support businesses.  We will endeavour to share these with you as these are extraordinary times and by working together we will get through this together.

 

Hong Kong’s SME Financing Guarantee Scheme

The Scheme aims at helping local SMEs to obtain financing from participating lenders for meeting their business needs. In December 2019, the 90% Guarantee Product under the SFGS has been introduced. The 90% Guarantee Product aims at providing additional support to smaller-sized enterprises, businesses with relatively less operating experience, as well as professionals seeking to set up their own practices, to obtain financing. The application period will last until end-June 2022. Read more >

 

SMEOne – Dedicated Funding Support

Hong Kong Government also has SMEOne which has dedicated resources to answer questions on funding applications. Read more >

 

Retail Sector Subsidy Scheme

Hong Kong Government has just launched the Retail Sector Subsidy Scheme as a response to the Coronavirus. A sum of $5.6 billion is earmarked under the Fund for the Scheme which is expected to benefit some 70,000 retailers. Each eligible retail store will receive a one-off subsidy of $80,000. The first tranche of payment will be made within April. Read more >