Profile of SME support in Hong Kong and the setting up of the business start-up centre

Abstract

SME business forms the major part of the Hong Kong economy. Over 90% of business establishments in Hong Kong are in this category i.e. employing less than 100 persons. These enterprises in total account for the employment of 60% of the local labour force. Small and medium enterprises, as the economic engine, is a major creator of jobs in all industries. In January 1999, The Management Development Centre of Hong Kong formally set up the Business Start-Up Centre to help small business starters develop their ideas and business plans. This paper is intended to give an account on the support given to SMEs by the government and various support groups and the setting up of the Business Start-Up Centre in Hong Kong. The promotional and operational issues encountered during the initial stage of the Centre will be highlighted and an update of the Centre's latest results and new initiatives for the future will also be presented.