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Macao SME Assistance Program Begins To Implement

2009/2/5 9:24:00 22

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In order to cooperate with the administrative regulation No. 2/2009 concerning the amendment of the SME assistance plan from February 3, 2009, the Macao Economic Bureau began accepting new applications on the 3 day.

For SMEs that have never applied for assistance, the maximum amount of application is 500 thousand (Macao dollar, the same below). For SMEs who have already obtained the aid money before the new law comes into effect, new applications can be made for the difference between the original approval amount and the 500 thousand yuan.

The Macao SAR government has amended the "SME assistance plan" to increase its efforts to help SMEs.

The newly revised assistance plan raised the approval limit of the assistance amount from 300 thousand yuan to 500 thousand yuan, and put the working capital of the enterprise into the use of the aid money to help SMEs overcome the shortage of funds.

Since the implementation of the SME Assistance Scheme in May 2003, as of January 22, 2009, the Macao Economic Bureau has received 3748 applications, of which 3172 have been approved, involving an amount of 582395737 yuan.

For eligible enterprises, an interest free loan with an upper limit of 500 thousand yuan can be obtained and amortized within 8 years.

In addition to new working capital, there are eight original uses of the loan, including the purchase of equipment needed for operation, renovation, decoration and expansion of the business premises, the establishment of a commercial franchise contract and franchise contract, the acquisition of technology exclusive rights or intellectual property rights, publicity and promotion activities, the enhancement of the business capability or competitiveness of enterprises, and financial difficulties arising from the force majeure events.