HOW CAN D-BIZ WORK FOR YOU?

HOW CAN D-BIZ WORK FOR YOU?

Due to the major impact of COVID-19, the Hong Kong government has created the “Distance Business” fund [D-Biz], which is aimed at providing businesses with funding for improving their capacity to either do business online, or work remotely online with IT solutions during the pandemic. As a small business the potential upside to apply for this fund is astronomical as the effort vs reward in the application is heavily in your favour. But before we go there, we have to answer a few questions;

Who’s it for?

The D-Biz is for all private enterprises registered in Hong Kong (excluding publicly listed companies, statutory bodies and non-government organisations funded by the Government) under the Business Registration Ordinance (Chapter 310) before January 2020 in Hong Kong are eligible to apply.

How does the fund work?

For each” IT solution” (custom or off-the-shelf software system), set up costs, and the relevant training expenses for the employees, the funding ceiling is HK$100,000 (with funding for the relevant training expenses capped at 10% of the IT solution cost). Each enterprise may receive total funding of up to HK$300,000 to undertake a project to be completed within six months.

Once your application has been approved, you will be disbursed a 30% payment of the funding amount. Only on completion of the project and after all of the supporting documents have been approved will the remaining funds be disbursed.

How can you use the D-Biz fund?

There are 12 scope categories available. Please note that your project only needs to apply to ONE of the following

  1. Developing online business: web portal development, eCommerce platform, mobile app development, online advertising & social media promotions
  2. Online order-taking, delivery and smart self-service systems: adoption of technologies to improve online orders and delivery.
  3. Online customer services and engagement: “Distant” learning facilities, reservations, meetings and appointment bookings.
  4. Digital customer experience enhancement: Chatbot, help centres, analytics systems, AR/VR/MR systems.
  5. Digital payment/MPOS: Includes set up, hardware/software fees.
  6. Online cloud-based financial management system: invoicing, accounting, billing, regulatory compliance and reporting.
  7. Online cloud-based HR systems: payroll, leave management, expense, reimbursement, training and reporting.
  8. Remote document management, cloud storage and remote access services: Setting up and using a cloud storage system.
  9. Virtual meetings and conference tools: Adopting tools that allow people to communicate through video online.
  10. Virtual team management and communications: Adopting tools that allow groups of people to communicate online.
  11. Cybersecurity solutions: encryption, firewall, anti-virus and malware solutions.
  12. Other online cloud-based systems: either off-the-shelf or custom built that enable businesses to conduct business remotely but do not fit into the above categories.

How do I apply?

You are required to provide two quotations for service providers and select the lowest bid. If you do not select the lowest bid you need to justify why. If the project scope is worth more that HK$30,000, then you will also need two quotations for external auditors who will review the project financials upon completion. The official ‘example’ application form is surprisingly short and is worth taking a look at before you start putting together your application.

Need some ideas? Here’s how is we can help!

Move your business online completely

Selling products? You should be on an eCommerce platform as is. But what if you’re offering a service, that might be a little more complicated… Get in touch as to what services might be available for you to teach, communicate or consult online!

Implementing an automated marketing system

Ever considered working smarter, not harder? You have the unique chance to deliver the right information to the right people at exactly the right time using automated marketing systems. Less time on email is more time spent growing your business, just ask us how!

Manage leads and customers in a CRM

Are you still using excel sheets, emails and calendar reminders keep up to date with your leads? It’s probably time to move to a CRM system that can keep track of all your marketing, sales and customer service activities.  Get in touch to learn more about what is available for you to use!

Learn what your customers are thinking

Ever wonder what makes your customer tick? Even better, want insights into what they like or don’t like about your brand? D-Biz gives you the opportunity to vastly improve your website analytics to give you a bird’s eye view of how customers get to your website and what they are looking at. We can help you implement a system and then train you as to you what to look for to anticipate the needs of your customers!

 

Due to the major impact of COVID-19, the Hong Kong government has created the “Distance Business” fund [D-Biz], which is aimed at providing businesses with funding for improving their capacity to either do business online, or work remotely online with IT solutions during the pandemic. As a small business the potential upside to apply for this fund is astronomical as the effort vs reward in the application is heavily in your favour. But before we go there, we have to answer a few questions;

Who’s it for?

The D-Biz is for all private enterprises registered in Hong Kong (excluding publicly listed companies, statutory bodies and non-government organisations funded by the Government) under the Business Registration Ordinance (Chapter 310) before January 2020 in Hong Kong are eligible to apply.

How does the fund work?

For each” IT solution” (custom or off-the-shelf software system), set up costs, and the relevant training expenses for the employees, the funding ceiling is HK$100,000 (with funding for the relevant training expenses capped at 10% of the IT solution cost). Each enterprise may receive total funding of up to HK$300,000 to undertake a project to be completed within six months.

Once your application has been approved, you will be disbursed a 30% payment of the funding amount. Only on completion of the project and after all of the supporting documents have been approved will the remaining funds be disbursed.

How can you use the D-Biz fund?

There are 12 scope categories available. Please note that your project only needs to apply to ONE of the following

  1. Developing online business: web portal development, eCommerce platform, mobile app development, online advertising & social media promotions
  2. Online order-taking, delivery and smart self-service systems: adoption of technologies to improve online orders and delivery.
  3. Online customer services and engagement: “Distant” learning facilities, reservations, meetings and appointment bookings.
  4. Digital customer experience enhancement: Chatbot, help centres, analytics systems, AR/VR/MR systems.
  5. Digital payment/MPOS: Includes set up, hardware/software fees.
  6. Online cloud-based financial management system: invoicing, accounting, billing, regulatory compliance and reporting.
  7. Online cloud-based HR systems: payroll, leave management, expense, reimbursement, training and reporting.
  8. Remote document management, cloud storage and remote access services: Setting up and using a cloud storage system.
  9. Virtual meetings and conference tools: Adopting tools that allow people to communicate through video online.
  10. Virtual team management and communications: Adopting tools that allow groups of people to communicate online.
  11. Cybersecurity solutions: encryption, firewall, anti-virus and malware solutions.
  12. Other online cloud-based systems: either off-the-shelf or custom built that enable businesses to conduct business remotely but do not fit into the above categories.

How do I apply?

You are required to provide two quotations for service providers and select the lowest bid. If you do not select the lowest bid you need to justify why. If the project scope is worth more that HK$30,000, then you will also need two quotations for external auditors who will review the project financials upon completion. The official ‘example’ application form is surprisingly short and is worth taking a look at before you start putting together your application.

Need some ideas? Here’s how is we can help!

Move your business online completely

Selling products? You should be on an eCommerce platform as is. But what if you’re offering a service, that might be a little more complicated… Get in touch as to what services might be available for you to teach, communicate or consult online!

Implementing an automated marketing system

Ever considered working smarter, not harder? You have the unique chance to deliver the right information to the right people at exactly the right time using automated marketing systems. Less time on email is more time spent growing your business, just ask us how!

Manage leads and customers in a CRM

Are you still using excel sheets, emails and calendar reminders keep up to date with your leads? It’s probably time to move to a CRM system that can keep track of all your marketing, sales and customer service activities.  Get in touch to learn more about what is available for you to use!

Learn what your customers are thinking

Ever wonder what makes your customer tick? Even better, want insights into what they like or don’t like about your brand? D-Biz gives you the opportunity to vastly improve your website analytics to give you a bird’s eye view of how customers get to your website and what they are looking at. We can help you implement a system and then train you as to you what to look for to anticipate the needs of your customers!

 

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