Gov’t to enhance funding for SMEs branding, export marketing

It aims to support SMEs in a more focused and sustainable manner.

The Trade and Industry Department will enhance the Branding, Upgrading and Domestic Sales Fund (BUD Fund) and the small and medium-sized enterprises (SMEs) Export Marketing Fund (EMF).

The department said the new measures aim to support SMEs in a more focused and sustainable manner.

Under the new measures, each applicant enterprise can submit one ‘Easy BUD’ application every three months instead of every six months at present.

The fund will now cover the establishment of an online sales platform and professional fees for new business entities in eligible markets.

The government will consolidate the EMF into the BUD Fund upon the expiry of the former’s special measures on June 30, 2026. At the same time, it will adjust the funding ceiling and matching ratio and rationalise other parameters of the two funds.

The 2024 Policy Address and the 2025-26 Budget have allocated a combined total of $2.5b to the funding schemes.