Retailers To Get Subsidies

The Government will launch the Retail Sector Subsidy Scheme under the Anti-epidemic Fund on March 23.

The scheme aims to provide relief to retailers to help them tide over financial difficulties during this challenging time.

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 payments will be made within April.

The scheme covers shops that sell tangible goods to the public for personal or household consumption or utilisation. 

Eligible retailers must be conducting substantial and substantive retail business at a fixed physical and individually operated store in Hong Kong; and running a business that has commenced before January 1 this year and is still in operation at the time of application.

The maximum subsidy amount for a parent company that operates retail groups or chain stores under the same business registration is $3 million, equivalent to no more than 38 stores.

The Government has commissioned the Hong Kong Trade Development Council to help implement the scheme, which will only accept online applications via a dedicated online application system.

The online system will accept applications from 9am on March 23 until 11.59pm on April 12.

Applicants do not need to rush their online application submissions on the first day of the application period as the scheme is not run on a first-come-first-serve basis.

Fixed physical retail stores operated by social enterprises are also covered by the scheme.

As social enterprise retail outlets may not have a business registration, the Hong Kong Council of Social Service will help provide certification for them to confirm their eligibility and collect applications from them directly. 

For enquiries, applicants can call 1836 111 or email enquiry@retailsubsidy.hk.