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YBHK 香港青年創業計劃 Youth Business Hong Kong

March 15, 2013

Application Notes
1 Requirements
1.1
Aged 18 to 35
1.2
Holder of Hong Kong Permanent Residence Identity Card
1.3
Have either a viable business idea that can start within one year, OR already be running a business under own name for not more than three years – business plan and report required; demonstrates a commitment to start and run his / her own business, but has no access to seed money.
1.4
Have registered or will register own business in Hong Kong and has own business activities undertaken in Hong Kong
1.5
If the intended business OR existing business is owned by the Applicant in the form of a sole proprietorship, he/she must fulfill the requirements of items 1.1 to 1.4
1.6
If the intended business OR existing business is owned by the Applicants in the form of a partnership, all the partners of the business must complete the application form and fulfill the requirements of items 1.1. to 1.4
1.7
If the intended business OR existing business is owned by the Applicants in the form of a limited company, all the shareholders of the limited company must complete the application form and fulfill the requirements of items 1.1. to 1.4
2 Application and Vetting Procedures

2.1

The Applicant(s) must submit the following documents (Please refer to Item 4.2. for the submission method):

  • Application Form
  • Business Plan (duly signed by all Applicant(s))
  • Copy/ies of Hong Kong Identity Card
  • Copy/ies of proof of residence
  • Copy/ies of education qualification and employment record
  • Copy/ies of existing or past business registration certificate (if any)
  • Credit report obtained from the TransUnion Information Services Limited within 3 months (Enquiry hotline: 2577 1818; website: www.transunion.hk)
2.2
The viability of the business, the Applicant’(s) determination and ability to start the business, along with the credibility of the Applicant(s), will be vetted by the Youth Business Hong Kong Secretariat. Nominations will then be made towards appropriate Applicant(s) to attend the Vetting Panel interview. Youth Business Hong Kong (“YBHK”) will exercise its discretion in approving the application; approve loan amount and supportive service offered with reference to the result of the interview.
2.3
Applications will be considered only if all applicants attend the Vetting Panel interview.

 

3 Terms and Conditions for Loan and Repayment Arrangement:
3.1
A maximum of up to HK$100,000 will be provided to each successful application as an interest-free business start-up loan.
3.2
Terms and amount of repayment will be recommended by the Vetting Panel according to the nature of the business. In most instances, the first installment of repayment would begin 6 months from the launch of the business. This would be on a monthly basis and the repayment period will not exceed 24 months.
3.3
The successful Applicant(s) must utilize the loan granted by YBHK in accordance with the terms and conditions and purposes as approved. Proof of expenses of the approved loan must be made available to YBHK at anytime.
3.4
If the successful Applicant(s) defaults in the repayment of the loan date and in accordance with the terms and conditions herein of any amount outstanding and payable, he/she is liable to pay YBHK an administration fee.
3.5
For each successful application, a guarantor is required to give and sign a personal guarantee in favour of YBHK and guaranteeing the repayment of all the outstanding loans which will be made by YBHK.
3.6
The successful Applicant(s) must regularly submit business and financial reports of his/her business to YBHK. The successful Applicant(s) should authorize the Secretariat of YBHK to conduct its own investigations into the accounts and information related to financial status of the business. He/She/They must adopt coaching from the mentor and maintain close contact with the Secretariat of YBHK and the mentor.
3.7
If there is any changes in the business, type of ownership, shareholding structure of the company, the successful Applicant(s) should give at least two weeks notice to the Secretariat of YBHK informing YBHK of the change. In the event that the actual business that is carried out is different from the approved business plan, OR if the loan is not utilized in accordance with the terms and conditions and purpose of the loan, OR if the successful Applicant(s) refuse to submit or submit false business and financial report, OR is involved in illegal or unreasonable business behavior, YBHK will have the right to suspend, terminate the loan and supportive service or modify the terms and conditions of individual loan and supportive service at its sole absolute discretion.
3.8
In order to ensure that integrity and accountability are upheld and understood, YBHK reserves the right to take any legal action to make a claim on all default payments.
4 Application and Submission Deadline:
4.1
Applications are now open and application forms can be collected from here.
4.2
Completed application forms and related documents should be mailed or submitted in person to the Secretariat, Youth Business Hong Kong, Units 7-10, G/F , Wing Lok House, Fuk Loi Estate, Tsuen Wan, New Territories.
4.3
All documents submitted will not be returned and all information collected will only be used for the application process of YBHK.
4.4

YBHK will vet applications quarterly. Deadlines for submission in 2013 and 2014 are as follows:

2013: March 15, July 15, and November 15

5 Enquiries

The Hong Kong Federation of Youth Groups
Youth Employment Network

Address: Youth Business Hong Kong Secretariat
Units 7-10, G/F ,
Wing Lok House, Fuk Loi Estate,
Tsuen Wan, New Territories
Telephone: 3113 7999
Fax: 3170 6173
E-mail: ybhk@hkfyg.org.hk
Application Procedure and Timeline Title
Application Procedure and Timeline Chart
Application Procedure

1. Download our Application Form MS Word File (367KB) or Acrobat File (468KB)

Download file includes:
– Application Notes
– Application Form
– Guidelines for Business Plan Preparataion

2. Read Application Notes carefully

3. Fill in the Application Form

4. Compose a business plan, making reference to the Guidelines for Business Plan Preparation

5. Submit all the required documents either through mail or in person to:

The Hong Kong Federation of Youth Groups
Youth Business Hong Kong Secretariat
Units 7-10, G/F ,
Wing Lok House, Fuk Loi Estate,
Tsuen Wan, New Territories

Application Deadline

The application deadlines in year 2013 and 2014 have been scheduled as follows:

Year 2013 – March 15, July 15, and November 15

Details

Date:
March 15, 2013
Event Category:
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