BLOG - Gerry Ma

Micro-Enterprises - A call for action, turn the grant to your capital

15 March 2011 11:09

Trying to resolve the complaints from general public after making the 2011-12 Budget, the Financial Secretary announced to grant all holders of Hong Kong permanent identity cards aged 18 or above a sum of HK$6,000, planned to spend a total of HK$36 billion. People going to receive the “extra pocket money” are all very excited while many grievances were made from those not eligible to get that grant.

With the grant going to be distributed, some organizations are trying to invite citizens to donate their share to charity organizations or needy people.  In fact, since the announcement of this grant, it became a hot topic for discussions among citizens, media, political parties…simply everyone in Hong Kong.  Thus, it was not surprised that different parties went on street to protest against various government policies on 6 March.   On the other hand, many others are excited to discuss with friends and relatives on how to spend the HK$6,000.  To get some new electronic gadgets?  To spend on a feast?  To arrange a short vacation trip?  Of course there are also people that are indifferent to the money to be received.  In terms of business opportunities, merchants already started to promote product offers to grasp the chance to earn this grant. Let’s not discuss whether it’s a correct decision for government to give us this grant, but everyone does have their rights to decide ways to spend the money.

Inflation, high rental and cost of capital, we all knew that it is getting more and more difficult for small businesses in Hong Kong.  For Micro-Enterprises, hurdles are even higher to gather their start-up capital or to manage their cash-flow in the first few months.  Even with good business ideas, entrepreneurs find it very difficult to gather capital to put their ideas into practice.  Similar to benefits of having group think, entrepreneurs should consider making good use of own grant received together with friends’ or relatives’ who are interested in investing instead of just spending  the money away.  However, if one wants to persuade others to lend or to invest on his or her business ideas, some proper preparation is required.  Research on industry news, competitor analysis, cash-flow projections etc. are necessary.  Useful information could be found at Hong Kong Trade Development Council (website www.hktdc.com) or MetroBiz website of Metro Broadcast Corporation Limited (http://metrobiz.metroradio.com.hk).   No matter for SMEs or Micro-Entreprises, there are information and reference of first-hand information on  overseas market potential, industry news, business operation tips, opportunities in China etc.  Once entrepreneurs registered as members, there will be “members only” updates to help them run businesses properly.  Smart-tips also included sharing from industry and government representatives about latest policies and trends.

On the other hand, as members, entrepreneurs could also make use of the websites to promote their products and services, reaching millions of buyers in the world for free.  To get free consultation services on various business operation issues, one of the best ways is to check with The Trade and Industry Department (website www.tid.gov.hk).  Through the SME Mentorship Programme, one could get valuable advice and sharing from accomplished entrepreneurs, senior executives, and professionals through one-on-one free counseling.

"Rome was not built in one day”, but only by making the first move right, you might be one of the CEO on Fortune 500 in the future.

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Gerry Ma

Gerry Ma's Profile

Director of ColArt Hong Kong Limited, and Chairman of Trade & Industry Department (HKSAR) Customer Liaison Group for SMEs

In 2005, Mr. Ma has been elected as the Chairman of the SME Committee of Hong Kong General Chamber of Commerce (HKGCC, 2005-2009). He has also been i...