(2nd April, 2020, Hong Kong) Joining with members from the Professionals Guild, IT legislator Charles Mok today issued his policy proposals to the government, urging for more support to startups and SMEs in the next round of the government’s relief packages.
Facing imminent cash flow problems, many startups and SMEs are forced to lay off staff, current policies and the first round relief package are both inadequate to tide over the financial pitfalls for startups and SMEs. Apart from more financial subsidies, Mok called on the government to expedite its digital transformation projects by hiring more IT staff and procure IT and innovative solutions and services from the local IT industry. In his proposal Mok requests the government to address the most immediate pressure that SMEs face which is high rental costs.
“The government must take precautionary measures to back up our innovation and technology industries before the economic downturn hits our local companies and startups, and not wait until the negative impacts emerge,’ said Charles Mok. Mok urges the government to provide a $5000 training subsidy to local IT professionals, in order to help them stay competitive by taking courses and acquiring professional qualifications.
Five proposals from Charles Mok:
1) A maximum of $100,000 subsidy for each startup to cover the rental and operation costs. More support should be offered to other SMEs on rent payment.
2) Providing startups with a fast approval loan.
3) Matching investment from private investors and venture capitals on the seed funding rounds of startups.
4) Increase the number of hiring for government IT staff and procure more IT services to speed up the government’s digital transformation process.
5) Providing IT workers with $5,000 training and study allowance.