e-Commerce Easy – Start Your Journey to Success
Unlock Millions in Funding to Expand into the Mainland Market
The Hong Kong Productivity Council (HKPC) held the “BUD Special Fund – E-commerce Easy Launching Ceremony” on July 15, 2024, officially announcing the introduction of the “Special Fund for Brand Development, Upgrading and Transformation, and Expanding the Domestic Market.” The new “E-commerce Easy” project has been added under the framework of the “BUD Special Fund.” Enterprises can flexibly use up to HK$1 million from the fund’s total allocation of HK$7 million to expand into the mainland e-commerce market.
With the government’s increased support for the “BUD Special Fund,” particularly the establishment of “E-commerce Easy,” many small and medium-sized enterprises are seizing the opportunity to enter the thriving Greater Bay Area market. However, competition in the mainland e-commerce landscape is intense. How can companies distinguish themselves, secure their place, and achieve meaningful business growth?
WECHATBIZ offers professional “E-commerce Easy” application and consulting services to assist companies in successfully launching their e-commerce operations in the mainland, enabling you to thrive in the vast Greater Bay Area market. Let us be your capable partner as we work together to achieve greatness!
Introduction to BUD Special Fund
About eCommerce Easy
BUD Special Fund – E-commerce is newly launched on July 15, 2024, aiming to support Hong Kong enterprises to expand their business in the mainland market through e-commerce. The “E-commerce Easy” program features the following characteristics:
- Funding Scope: Includes setting up online stores on third-party platforms, placing advertisements, creating or optimizing mobile applications, and adding electronic payment functions to corporate websites, etc.
- Grant Amount: Each company can receive a cumulative grant of up to HK$1 million.
- Flexible Funding: There is no individual funding limit for each item, providing greater flexibility.
Eligibility
- Have a business registration certificate in Hong Kong and be an unlisted company
- Have substantial business operations in Hong Kong
Funding scope
Online sales platform
- Establish a third-party online sales platform
- Platform store design and production
- Online store operation service fee
Advertise
- (About applying for corporate e-commerce business promotion)
- Advertise in business media
- Search Engine Optimization/Search Engine Marketing (SEO/SEM)
- Hire spokesperson/influencer
Mobile Application
- Create a new mobile application
- Optimize existing mobile applications
- Create/install mini programs in third-party mobile applications
Company Website
- Create a new company website
- Optimize the existing company website (such as adding electronic payment functions)
Other e-commerce related measures
For example, cross-platform promotional videos/photos produced to promote relevant e-commerce businesses
"E-Commerce Easy" vs "Easy BUD" vs General "BUD"
Quickly understand: the difference between “eCommerce Easy” vs “Easy BUD” vs General “BUD”
| Project | E-commerce easy | Easy BUD | General BUD Fund |
|---|---|---|---|
| Application qualifications | Unlisted companies registered in Hong Kong and with substantial business operations | Unlisted companies registered in Hong Kong and with substantial business operations | Unlisted companies registered in Hong Kong and with substantial business operations |
| Funding ratio | 50% | 50% | 50% |
| Single project funding limit | 1 million Hong Kong dollars | HK$100,000 | 1 million Hong Kong dollars |
| Cumulative funding limit | Including a total of HK$7 million | Including a total of HK$7 million | 7 million Hong Kong dollars |
| Application approval time | Within 24 months | Within 12 months | Within 24 months |
| Audit fee subsidy upper limit | Full subsidy, up to HK$10,000 each time | Full funding, up to HK$5,000 each time | Full subsidy, up to HK$10,000 each time |
| Application processing time | About 60 working days | 30 working days | About 60 working days |
| Subsidy scope | Use e-commerce related facilities, and only in the mainland | Simpler funding projects, such as trademark registration, patent application, designing company website, participating in exhibitions, etc. | Covers various business development areas, including expansion of domestic sales, brand promotion, rental and other operating expenses |
| Is it possible to provide initial funding | Can apply for 75% down payment | Does not support initial funding | Can apply for 75% down payment |
How To Apply
We offer a comprehensive range of professional e-commerce application services to ensure that your application process is smooth and worry-free.
Application Process
1. Submit application:
Submit the application and related supporting documents through the online system
2. Waiting for preliminary review:
The execution agency will confirm whether the information is complete within 60 working days
3. Supplementary information or documents:
If the information is insufficient, the applicant needs to reply within 14 days
4. Approved:
Once the application is approved, follow the guidelines to complete the signing process
5. Project implementation:
Start implementing the funded project and the project must be completed within no more than 24 months
6. Progress report/final report:
Submit project progress and audit reports regularly as required
-If the project implementation exceeds 18 months, an interim report needs to be submitted in the 12th-13th month
-The final report must be submitted within 2 months after completing the project</span >
7. Disburse funds
If there are no problems with the completion report and audit report, the subsidy will generally be released within 60-90 days.
Application Documents
1. Basic files:
Completed online electronic application form
Copy of business registration certificate
Copy of company registration certificate
2. Company information certificate:
Proof of shareholder information holding 30% or more ownership
Documents proving that it has substantial business in Hong Kong
Proof of total sales in the previous year (including audited accounts)
3. Business-related documents:
Proof of direct investment relationship with mainland business units (if applicable)
Promotional materials for corporate business/products/services
4. Other important documents (if applicable):
Proof of specific license/qualification/certification
Copy of brand authorization/agency contract
Proof of Mainland Trademark Registration Procedure
Hong Kong Brand Registration Certificate
Note:
All documents must be submitted through the electronic system of the BUD Special Fund website (www.bud.hkpc.org)
Applications submitted by post, email or in person will not be accepted
Our Process
We offer a range of professional e-commerce application services designed to make your application process smooth and hassle-free.
Application Consultation
Application consultation allows our professional team to answer your questions, prepare necessary materials, enhance your chances of success, and make the process smoother!
Document preparation
Preparing the correct documents can significantly enhance application efficiency and ensure a smooth process. Let us help you organize the necessary materials for an effortless application!
Application submitted awaiting approval
After submitting your application, we will continuously follow up on the review process and await the results to proceed with the next steps.
Project Execution
After waiting for the application approval, we will swiftly initiate project execution, ensuring that all plans progress smoothly and the project is completed successfully.
Project Successfully Funded
The project has successfully secured funding. It’s our honor to serve you, and we wish your business continued growth!
Contact Our Expert Consultants for Professional Assistance
Complete the questionnaire and allow our expert consultants to assist you in smoothly applying for “E-commerce Easy”!
Get Started Now
FAQ
Below are frequently asked questions and their answers, designed to help you quickly grasp the essential information about “E-commerce Easy.”
What is E-Commerce Easy ?
The BUD Special Fund – E-commerce was launched on July 15, 2024, with the goal of supporting Hong Kong enterprises in expanding their business in the mainland market through e-commerce.
What are the application eligibility requirements for E-Commerce?
- Must have a business registration certificate in Hong Kong and be an unlisted company.
- Should have substantial business operations in Hong Kong.
What does E-commerce Yi’s funding scope include?
The funding scope of E-Commerce includes establishing online stores on third-party platforms, placing advertisements, creating or optimizing mobile applications, and integrating electronic payment functions into corporate websites.
Can e-commerce companies apply for down payment?
Yes, you can apply for up to 75% of the down payment.
How many quotations does E-Commerce need?
≤ HKD$5,000: 1 quotation
>HKD$5,000 – $50,000: 2 quotations
>HKD$50,000 – $300,000: 3 quotations
>HKD$300,000 – $1,599,999: 4 quotes
>HKD$1,600,000: Open Tender
What are the advantages of "E-commerce Easy" compared to other funding options?
Traditional BUD imposes limits on the amount for each subsidy category. For instance, the maximum amount for setting up an online store is HK$100,000, and advertising costs cannot exceed half of the total project amount. However, the BUD E-commerce program eliminates these individual funding caps, providing greater flexibility for merchants to promote e-commerce in the mainland.
BUD FUND FAQs
Can a new company apply for BUD?
Are both limited companies or unlimited companies eligible to apply?
Can I apply for BUD simultaneously if I own several companies at the same time?
I mainly want to develop my business in Hong Kong. Can I apply for BUD?
However, companies can indeed take certain measures in Hong Kong, such as hiring employees and setting up websites, to help expand business in target markets. You are welcome to inquire with us.
Do I need to write a plan to apply for BUD?
Enterprises currently only need to fill in the application form and submit relevant documents. Of course, there are still many things to pay attention to when filling out the application form, and we are happy to provide support.
Do you have to own a company in the Mainland or the free trade agreement market to apply for BUD?
What should we pay attention to when making procurement?
Procurement under all BUD special fund projects must comply with relevant government requirements, including obtaining sufficient quotations based on the purchase amount (which can be purchased globally), and selecting suppliers based on the principle of “lowest price”. All quotations, receipts, bank transaction records, etc. must be retained and submitted to the government for review when submitting the final report. If purchasing from mainland suppliers, a “VAT invoice” is required. The omission of any document will lead to failure to reimburse the money and cause heavy losses.
The required quotations for the corresponding amounts are as follows:
<$2,000: 1 quote
$2,000 – $50,000: 2 offers
Above $50,000 – $300,000: 3 offers
$300,000 and above – $1.4 million: 5 offers
Above $1.4 million: open tender
However, sometimes the services or products purchased are very special and what should be done if sufficient quotations cannot be obtained? Welcome to learn from us.
What does "comply with local regulations/obtain relevant licenses" mentioned in the BUD application mean?
If the company has not obtained these certifications, it can include the cost of relevant certifications in the application. However, you must obtain relevant certifications before you can start business. Want to know which products require certification? We can provide advice.
Does successful application for the BUD project mean that you will definitely receive funding?
Therefore, successfully applying for approval is only a small step towards success. “The best is yet to come.”
The longer the project execution period, the better?
Why BUD Special Fund-Professional Advisory Opinion?
Whether it is the optimized mainland plan or the free trade agreement plan, since the BUD application procedures are quite complicated, the form alone has dozens of pages. On the one hand, you must be familiar with the government’s requirements and procedures, and on the other hand, you must also take into account the company’s brand development and Resource utilization and marketing. The internal resources of a typical company are unable to cope with an application process with such a huge administrative workload.
After being evaluated by professional consultants, many companies may have met the basic requirements in terms of income and have sufficient internal manpower, so they choose to apply on their own. This kind of thinking is understandable, because company management often wants to “finish everything” and save some consulting fees. However, after six consecutive terms, they either failed to apply for NT$1 million in one go, failed to exhaust the upper limit of a single project and felt it was not worth it, or they had a headache as the project progressed, wondering when to submit the relevant documents. If there is even the slightest inaccuracy in the proof, the government will ask for an explanation, causing extraneous problems and causing big losses.
BUD has the largest amount of funding among many government funds, with a cumulative funding of $6 million. Since its launch, nearly $500 million in funding has been approved. However, it is also one of the more difficult to apply for. According to the Government Audit Office report, the overall application success rate is less than 40%. The administrative procedures for BUD application are complicated and there are many traps, so some companies have failed to apply even after several applications.
What qualifications do enterprises need to meet to apply for funding from the "BUD Special Fund: Enterprise Support Program"? How much funding is available?
Subsidy under the “BUD Special Fund: Enterprise Support Program” is provided on a reciprocal basis, that is, the government can fund up to 50% of the total approved expenditure of a specific project, and enterprises must bear no less than 50% of the total approved expenditure of the project in cash. During the application period of the fund, each enterprise can receive funding for up to three approved projects. The cumulative funding limit for each enterprise under the “BUD Special Fund” is NT$500,000.
I am planning to further develop my brand. Is there any financial support from the government?
In addition, the SME Credit Guarantee Scheme and the SME Marketing Fund of the Trade and Industry Department provide credit guarantees to local SMEs and subsidize SMEs to participate in export promotion activities respectively. Creative Hong Kong and the Innovation and Technology Commission also provide different financial supports. For details, please visit the relevant website:
– Small and Medium Enterprise Funding Scheme of the Trade and Industry Department https://www.smefund.tid.gov.hk/cindex.html
– Support measures provided by Create Hong Kong https://www.createhk.gov.hk/tc/home.htm
– Funding schemes provided by the Innovation and Technology Commission https://www.itf.gov.hk/l-tc/about.asp
Recently I received a query: "Which program should BUD Taiwan apply for?"
Is the funding scheme limited to SMEs only?
Which industries can apply for funding under this scheme?
Are advertising expenditures subsidized?
Does the BUD Special Fund fund any type of equipment?
If an enterprise is applying for other government funding, can it still apply for other BUD-specific funds?
Is there an application deadline for the BUD Special Fund?
About Us
Cross-Border Business Series | China Marketing Intensive Reading Class (1): How Traditional Companies Enter the Mainland E-Commerce Market
The mainland market is vast, with a social media ecosystem that differs significantly from Hong Kong’s. How can Hong Kong SMEs seize opportunities in the online market, attract traffic, and convert leads? For B2B companies, what strategies can they employ to effectively leverage mainland social media to enhance visibility, receive orders, and facilitate shipping?
[Tech Talk: Kicking and Mopping Technology] Expanding the Market and Competing for Business Opportunities: Tips for E-Commerce Success in the Greater Bay Area
“Tech Talk: Kicking and Mopping Technology” features guests from BOC Hong Kong and WECHATBIZ Experts, who will share valuable tips for successfully entering the Greater Bay Area. Experts will decode the marketing strategies specific to this region, offering in-depth analyses of customer success stories. They will demonstrate how multi-channel marketing approaches can enhance brand awareness and effectively capture and retain customers in the Greater Bay Area. Additionally, this seminar will explore cross-border financial solutions, helping small and medium-sized enterprises manage funds seamlessly between China and Hong Kong, thus creating greater financial flexibility.
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Interested in e-Commerce Easy or ready to start your application? Reach out to our expert consultants today!
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