Young Entrepreneurs Aid Scheme
Beyond convention career options, the government encourages young people in Macao to fulfill their dreams of starting their own business and thereby foster economic diversification and innovation in Macao, the Government has launched an interest-free business start-up loan programme specially designed for young people. Interest-free financial assistance is provided to those who have already conceived the idea of starting a business and started the relevant operations, to relieve them of the pressure of shortage of funds during the business start-up stage.
The Young Entrepreneurs Aid Scheme was launched in August 2013, with a maximum loan amount of MOP 300,000 and longest repayment period of eight years. The scheme was revised in August 2017, applications were not limited to young entrepreneurs who are creating their own business for the first time, but also young entrepreneurs who have experience in starting up their own business, the scheme also training to the young entrepreneurs.The industries involved have mainly been retail, restaurants and hotels, corporate services, and personal services including automobile and motorcycle repair, and hair and beauty salons, as well as wholesale.
Macao Young Entrepreneur Incubation Centre
In order to further improve the supportive measures for youth entrepreneurship, the SAR Government established the “Young Entrepreneur Incubation Centre” under the Economic Bureau in 2015 in the hope of providing diversified and up-to-date entrepreneurial support to the youth of Macao.
In 2017, the Economic Bureau commissioned the Parafuturo de Macau Investment and Development Limited to operate the “Macao Young Entrepreneur Incubation Centre”, which has started 24-hour service all the year round since its relocation to a new site in Nape and been receiving various service supports from the Economic Bureau, the Macao Trade and Investment Promotion Institute, the Productivity and Technology Transfer Centre and other institutions.
The Centre provides consulting services, one-stop service for setting up a company, free temporary office spaces, advisory and consultancy services, resource/business matching services, innovation & entrepreneurship training courses, experience exchange meetings, assistance to young people for their participation in the joint development of the Guangdong-Hong Kong-Macao Greater Bay Area and in the Sino-Portuguese youth entrepreneurial interaction and cooperation, etc.
The “Macao Young Entrepreneur Incubation Centre” is committed to providing diversified and the latest entrepreneurship support services for young people in Macao, incubating potential entrepreneurial ideas and assisting young entrepreneurs to start up smoothly for the development of young entrepreneurial enterprises.
(Only Chinese version is available here.)
SMEs Service Platform
Jointly established by the Macau Youth Entrepreneur Association, Bank of China SME Service Centre and Macao Daily News ‘Economy’, the SMEs Service Platform is a web-based platform focusing on interactions between young entrepreneurs, banks, specialist teams, SMEs and young business entrepreneurs.
Apart from policy information, it emphasises bank financial analysis and diagnosis of specialised enterprise management to improve business models, inspire new business thinking, promote multi-industry and cross-discipline exchanges, help SMEs develop, and enhance management standards on a continued basis. It also makes use of this platform to provide market information, business support and business matching and enables the function of e-commerce. It also hopes to help local SMEs develop and grow via support and assistance.