GOVT LAUNCHES EASY BUD

The Government today launched Easy BUD, a simplified application track under the Dedicated Fund on Branding, Upgrading & Domestic Sales (BUD Fund) to help enterprises develop business, explore markets and enhance competitiveness.

Under Easy BUD, the application form, requirements for supporting documents and the vetting arrangements have been simplified, with the target processing time of applications being halved to within 30 working days compared with general BUD Fund applications.

Enterprises can make use of Easy BUD to fund the placement of advertisements, participation in exhibitions, development or enhancement of mobile applications and company websites, undertaking testing and certification, design and production of publicity materials as well as applications for patent, trademark, design, utility model and copyright registration.

Officiating at the Easy BUD launch ceremony, Secretary for Commerce & Economic Development Algernon Yau said the Government has further injected $500 million into the BUD Fund, and rolled out Easy BUD to expedite the application process, thereby facilitating the business expansion of small and medium enterprises.

He also encouraged the trade to make good use of the simplified application track to promote the development of Hong Kong businesses and industries.

Easy BUD funding will be provided to grantees on a matching basis after the completion of projects, and the funding ceiling for each project is $100,000.

All Easy BUD projects must be completed within 12 months. Each enterprise can submit one Easy BUD application every six months. The cumulative funding ceiling per enterprise under the BUD Fund is $7 million.

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