"However, we often have difficulties finding funds when we want to develop new products or services," Emil Yu, Chairman of HKGCC's SME Committee, told the 120 members who attended the Chamber's SME Night on 10 May.

To enhance the competitiveness of SMEs in Hong Kong, the Chamber and the government provide a wide range of services specifically for SMEs. Among which are the Trade and Industry and Department and the Innovation and Technology Commission -- the two key government bodies running funding schemes to support SMEs.

Ngai Wing-chit, TID's Assistant Director-General for Industrial Support told members that the funding schemes administered by his department involved a total commitment of HK$7.5 billion, with an expected maximum expenditure of HK$1.9 billion. These include four major schemes, namely the SME Loan Guarantee Scheme, SME Export Marketing Fund, SME Training Fund and SME Development Fund.

"With these funding schemes, I would rather define SME as 'Smart' with 'Money' and 'Energy'," he said. Mr Ngai encouraged Chamber's members to make use of the funding schemes to drive their businesses forward.

On the technology side, Alan Ho, ITC's Senior Manager, briefed members on the commission's "technopreneur" funding scheme, namely the "Small Entrepreneur Research Assistance Programme (SERAP)". The scheme is open to any SME who has a sound, innovative, technology-related idea for a business.

"The application procedure is very simple. You just click onto ITC's Web page and submit a 200-word proposal. You might then get a grant for as much as HK$2 million," he said.

About 25 percent of the 700-plus applications have been approved so far, but Mr Ho told members not to worry about whether or not they can qualify, because the commission provides a full range of services to assist applicants.

The SME Night was sponsored by Bank of East Asia, Hongkong and Shanghai Banking Corporation, and Standard Chartered Bank. Members were also given the opportunity to seek expert advice on financial management from the sponsoring banks.