SME Exhibitors Subsidy Set

The Commerce & Economic Development Bureau today announced a six-month scheme will be launched on February 1 to subsidise local small and medium enterprises (SMEs) to participate in exhibitions organised by the Trade Development Council (TDC).

The scheme, lasting until July 31, subsidises 50% of the participation fee per TDC exhibition, subject to a cap of $10,000. More than 5,000 local SMEs will benefit from the subsidy.

Noting that the exhibition sector can drive the economic activities of other sectors such as export trade, product and service industries as well as tourism, Secretary for Commerce & Economic Development Edward Yau said the Government decided to expand the scope of assistance to local SMEs that participate in TDC exhibitions to enable them to grasp immediate business opportunities.

SMEs which have obtained a subsidy from the scheme, if eligible, can still apply for the Dedicated Fund on Branding, Upgrading & Domestic Sales (BUD Fund) or the SME Export Marketing Fund (EMF) for funding on a matching basis for the remaining exhibition-related expenses.

“The Government will work closely with the TDC to ensure that the scheme will be launched smoothly and swiftly in order to provide timely and targeted assistance for local SMEs,” Mr Yau added.

A total of $3 billion has been injected into the BUD Fund and the EMF to substantially increase the cumulative funding ceilings per enterprise and the ratio of initial payments.

The BUD Fund’s geographical coverage has also been expanded to cover the economies with which Hong Kong has signed Free Trade Agreements from tomorrow.

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