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  • Jay Captivate

BUD Fund: 10 Tips for Increasing Application Success in 2024



Ensure Company Compliance with Regulations

Before applying, make sure your company holds all necessary licenses, such as a business registration certificate, catering license, or entertainment venue permit.


Prepare Comprehensive Operational and Financial Documents

Submit all required documents, such as the last six months of MPF contribution records and the latest annual audit report, to meet BUD requirements.


Align Application Content with Project Needs

If your project involves hiring employees, the application should clearly state the nature of their work and its relevance to the project.


Match Project Content with Actual Business Needs

The project content must reflect actual business needs. For instance, don’t include exhibition materials in an application that does not involve participating in exhibitions.


Demonstrate Tangible Marketing Outcomes

Include specific market promotion strategies in your plan. Ensure it goes beyond just equipment procurement, as the Productivity Council may question the project’s effectiveness otherwise.


Ensure the Project Enhances Business Competitiveness

The BUD Fund aims to promote brand development and business upgrading. Your application should clearly describe concrete measures in these areas.


Respond to Inquiries from the Productivity Council

Quick and clear responses to the Productivity Council’s questions can prevent delays and positively impact the assessment of your company’s execution capabilities.


Understand Target Market Regulations

Be prepared to provide documents that comply with local regulations after approval. Failure to do so may result in adjustments or withdrawal of funding.


Execute the Project on Schedule

Projects typically have a timeline of 12 to 24 months. While extensions are possible, they require detailed explanations and may affect future applications.


Seek Professional Consulting Assistance

Our company specializes in helping businesses prepare and apply for the BUD Fund, ensuring your application meets all requirements and has the highest chance of success. For assistance, please get in touch with us at info@captivatemkt.com. We wish all businesses a smooth application process and success in securing BUD Fund support!

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