Replies to initial written questions raised by Finance Committee Members in examining the Estimates of Expenditure 2012-13 Director of Bureau : Secretary for Commerce and Economic Development Session No. 12 File name : cedb(cit)- doc
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- Examination of Estimates of Expenditure 2012-13
Question : (a) For those young people who wish to start their businesses but lack financial means, what funding schemes are provided by the Government for them to apply? (b) Regarding the above funding schemes which assist the public in starting their businesses, how many applications have been received over the past two years? How many cases among them are applied by young people between the ages of 18 and 35? (c) Regarding a large number of cases in foreign countries in which young people with innovative ideas tried to start up their businesses and subsequently gained great success, has the SAR Government ever considered allocating fund to set up a start-up fund specially for young people to apply? Asked by : Hon. LEUNG Mei-fun, Priscilla Reply : The Government is committed to supporting the development of small and medium enterprises (SMEs) (including business start-ups). Different departments and relevant agencies are providing support to young people aspiring to start up their own businesses. As far as the Trade and Industry Department is concerned, the existing SME Loan Guarantee Scheme aims to help SMEs (including business start-ups) to secure loans from participating lending institutions to meet their financing needs. The Government would provide up to 50% loan guarantee for approved loans and the maximum amount of loan guarantee for each SME is $6 million. We do not have statistics about the number of SME beneficiaries by different age groups. In addition, the Hong Kong Mortgage Corporation (HKMC) intends to introduce a three-year microfinance pilot scheme to assist people who may wish to start their own businesses or take self-enhancement training but cannot do so due to a lack of financial means or difficulties in obtaining loans from traditional finance sources. HKMC will co-ordinate and collaborate with banks, voluntary agencies and other stakeholders to carry out this pilot scheme on a self-financing basis. Supporting services will also be provided to enhance the viability of the scheme.
Question : On regional co-operation, would the Administration inform this Committee the Trade and Industry Department’s (TID) participation in meetings and seminars/forums related to small and medium enterprises (SMEs) under the Asia-Pacific Economic Cooperation (APEC) in 2011-12 and related expenditure; the estimated expenditure for participation in similar activities in 2012-13; and the criteria adopted by the Administration in deciding participation in such activities? Asked by : Hon. TAM Wai-ho, Samson Reply : In 2011-12, the Trade and Industry Department (TID) participated in two meetings of the APEC Small and Medium Enterprise (SME) Working Group, one SME Ministerial Meeting and six seminars/forums related to SMEs held during the above-mentioned meetings. The total expenditure was about $274,000. The estimated expenditure for TID’s participation in similar activities in 2012-13 is $205,000. APEC endeavours to promote free trade and enhance economic development within the Asia-Pacific region. As one of the 21 member economies of APEC, Hong Kong, China has been actively supporting the work of APEC (including participation in meetings and activities related to SMEs organised by APEC), and collaborating with other APEC economies to foster the development of SMEs in the region and help SMEs enhance their competitiveness.
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