The Government sets aside HK$50 million for Retail Technology Adoption Assistance Scheme for Manpower Demand Management (ReTAAS) to help the retail industry in Hong Kong. Following this scheme to adopt relevant information and communications technology and other technologies that help manage retail manpower demand.
ReTAAS is to provide funding support for retail enterprises. Assist the retail sector to adopt new technologies in order to handle manpower demand management, eventually to enhance productivity within the retail enterprises.
Each approved project needs to complete within a time frame of 6 months.
- Companies Registered in Hong Kong under the Business Registration Ordinance;
- Substantive retail business operations in Hong Kong;
- All non-listed enterprises;
- All Non-Food and Beverage enterprises.
Mode of Business Operation
The mode of operation is flexible, nevertheless, the location of retail outlet is flexible too. For instance, street shops, shopping malls, upstairs shops, online shops, department store counters or Exhibition booths.
The cumulative ceiling of funding support is HKD50,000 per enterprise. Hence, the applicant can apply up to 2 single projects. ReTAAS covers information and technologies expenses including both hardware and software. Companies can purchase the existing off-the-shelve programmes to fit their businesses needs. On the other hand, companies with limited budget, they can apply for the initial funding first. ReTAAS is able to provide a maximum of 50% funds of the total approved project cost.
Scope of Funding
The fund is for the direct expense related to the project. For instance, the software, hardware equipment, as well as the installation and training cost. The fund does not cover the daily operation costs, such as, salary for employees, office rent, general administrative and office expenses are not funded.
On the whole, below with a list of typical technologies that are included within the scope of funding:
- POS System
- Electronic Payment System
- Electronic Advertisement Display / Chatbot
- Inventory System
- HR system
For further information, please contact us.
You may want to read: GOVERNMENT FUNDING SCHEMES RELATES TO FINTECH COMPANIES