Dreaming about
jumpstarting a business is easy enough, but many young entrepreneurs fail in the
early stages of business incubation due to lack of capital, so what can you do
to ensure that your idea is a winner?
Here are a few programs
from which many young successful businesses have received support:
Youth Business Hong Kong (YBHK)
With the aim of developing an entrepreneurial culture
amongst young people in Hong Kong, the Hong Kong Federation of Youth Groups set
up Youth Business Hong Kong (YBHK) in
2005 together with Youth Business International, and has since been supporting
young entrepreneurs in their business endeavors.
The YBHK scheme offers successful applicants a
maximum of HK$100,000 interest-free loan for starting up their business and/or
supporting their business development, along with supporting services including
business mentorship, professional consultancy, business support, and information
and networks. Aimed at supporting young people in their business endeavors,
YBHK is only open to applicants aged between 18 and 35 with a feasible business
idea to be enacted or an existing business younger than 3 years.
Microfinance Scheme
The Microfinance
Scheme was first launched in 2012 by Hong Kong Mortgage Company Limited in
collaboration with other banks and NGOs, and has been assisting business
startups with the Micro Business Start-up
Loan since.
The loan offers successful applicants a maximum loan
of HK$300,000 charged with interest with flexible repayment arrangements. The
scheme also provides mentorship and entrepreneurial training for business
starters who so require such services. It is only open to applicants aged 18
years or above, who are applying with the purpose of starting up a new business
or running a business younger than 5 years.
Cyberport Creative Micro Fund (CCMF)
Cyberport has long been introducing programs to
nurture the younger generations’ innovative spirit, and its Cyberport Creative Micro Fund (CCMF) helps
young entrepreneurs in the early stages of business incubation. It has funded businesses
such as GOGOVAN and Klook to their successes today.
The CCMF program offers successful applicants a
grant totaling HK$100,000 over the course of six months, and supports the
businesses with mentorship and business advice, local and global business
networks, publicity and promotion etc.
The grant is only open to projects pertaining to
the digital technology field and have not or/and will not participate(d) in
other funded programs which provide support in similar stage as CCMF.
Running a business is more than just securing
startup funds; Primasia provides one-stop services from company formation to
accounting, tax filing and payroll management, and will ensure that your Hong
Kong company is compliant with the local regulations. Contact us today for more corporate services!
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Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email
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Follow us on:
Website: Primasia HK / Primasia China
LinkedIn: Primasia
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Primasia Corporate Services Limited
Tel: +852 2882 2088
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