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
Through fostering economic diversification and developing non-gaming sectors, the government provides local youths choices beyond conventional career options, and assist the youths in realising their dreams of setting up business. The Youth Entrepreneurship Incubation Center was inaugurated in 2015, which provides entrepreneurship assistance in such forms as training courses, consultations, free temporary offices, business matching and “one-stop” administrative services helping entrepreneurs to set up new companies.
(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.