Anti-Epidemic Funds to Support Startups and SMEs

To enhance Hong Kong’s ongoing work in the fight against the novel coronavirus infection and to provide support and assistance to industries and members of the public affected by the epidemic, the Government will set up a $30 billion Anti-epidemic Fund. The Fund will provide additional resources to strengthen the territorial-wide anti-epidemic work and will render support to the affected industries and employees. Below are some of the support and assistance relevant to startups and SMEs. For the full list of 24 measures of the Anti-Epidemic Fund, please visit https://www.coronavirus.gov.hk/eng/anti-epidemic-fund.html

1. Rental Waivers for Tenants at the Science Park, Industrial Estates and Cyberport

A sum of HK$380 million has been set aside by the government to provide relief to tenants and start-ups at the Hong Kong Science Park, industrial estates and Cyberport by providing them with a six-month rental waiver. The rental relief will cover all start-ups, incubatees, co-working space users, office tenants, partner companies, professional services companies and merchant outlets at the Hong Kong Science Park, InnoCentre, industrial estates and Cyberport. The relief will be capped at 10 000 square feet and is expected to benefit about 1 800 tenants.

Relevant bureau and department: Innovation and Technology Bureau
Implementation: Hong Kong Science and Technology Parks Corporation and the Hong Kong Cyberport Management Company Limited

Enquiry:
Cyberport
Tel. 3166 3817 / 3166 3818
Email: leasing@cyberport.hk
Science Park and industrial estates
Tel. 2629 1818
Email marketing@hkstp.org
Address: 5/F, Building 5E, 5 Science Park East Avenue, Hong Kong Science Park

Finance Committee Paper Enclosure: Enclosure B17 to FCR(2019-20)46

More information: https://www.coronavirus.gov.hk/pdf/f19-46e-B17.pdf

2. Retail Sector Subsidy Scheme under the Anti-Epidemic Fund

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 payment will be made within April. The Scheme covers shops that sell tangible goods to the public for personal or household consumption or utilisation.

More information: https://www.info.gov.hk/gia/general/202003/23/P2020032300304.htm

3. Food Licence Holders Subsidy Scheme under Anti-Epidemic Fund

The Food Licence Holders Subsidy Scheme aims to provide financial relief to eight types of food business licence holders. A one-off subsidy of $200,000 will be provided to eligible licence holders of the premises in operation including general restaurants, marine restaurants and factory canteens; and a subsidy of $80,000 will be provided to eligible licence holders of the premises in operation including light refreshment restaurants, fresh provision shops, food factories, bakeries and siu mei and lo mei shops.

More information: https://www.info.gov.hk/gia/general/202003/18/P2020031800776.htm

4. Concessionary Low-Interest Loan with 100% Guarantee by the Government

Introduced under the SME Financing Guarantee Scheme, the loan with 100% guarantee by the Government will open for application for six months.A maximum loan of $2 million, with a repayment period up to three years, will be offered to eligible enterprises.The Government welcomed the approval of a new loan guarantee commitment of $20 billion under the Commerce and Economic Development Bureau to introduce a new Special 100 per cent Guarantee Product under the SME Financing Guarantee Scheme (SFGS) by the Finance Committee of the Legislative Council today (March 20). The Government plans to roll out the new product within April this year to provide timely assistance to tide those enterprises in need over during this difficult time.

More information: https://www.info.gov.hk/gia/general/202003/20/P2020032000572.htm