A total of MOP21.3 million (US$266,250) worth of subsidies were granted to the city’s small and medium-sized enterprises (SMEs) in March under the SME Aid Scheme, a decrease of 32.2 per cent month-on-month.
According to official data from Macao Economic Services (DSE), it gave out a total of MOP61.9 million in subsidies to local SMEs under the scheme in the first quarter of this year.
The SME Aid Scheme offers interest-free loans of up to MOP600,000 per applicant for different finance purposes.
In March, the economic bureau received a total of 66 new applications for subsidies, turning down six and approving 58 in the same period.
Under the scheme, 33.9 per cent of the granted subsidies went to businesses in the retail industry in the first quarter, amounting to MOP21 million. Meanwhile, those engaged in the field of construction and public infrastructure were the second biggest beneficiaries, receiving a total of MOP10.9 million from the government department in the three months.
The third biggest group of beneficiaries was companies providing personal services, namely those running vehicle maintenance businesses, and hair or beauty salons, which received a total of MOP9.44 million worth of subsidies, representing 15.3 per cent of the total.
Meanwhile in March, no subsidies were granted under another SME-support scheme of the Bureau – the SME Credit Guarantee Scheme. The total amount of subsidies granted via the scheme thus remained at MOP19.9 million for the first quarter of the year.
Less money to start-ups
On the other hand, another financial aid scheme of the Bureau, the Young Entrepreneurs Aid Scheme, granted MOP5.5 million in subsidies to the city’s start-ups in March, dropping by 31.7 per cent month-on-month
A total of 26 new applications were filed for the financial aid scheme last month. The Bureau gave green lights to 22 and turned down seven other applications.
The accumulative amount of approved subsidies under the scheme reached MOP15.9 million for the first quarter of the year.
The retail industry was again the biggest beneficiary of the programme, with successful applications receiving a total of MOP7.7 million worth of subsidies during the first three months, accounting for 48.4 per cent of the total.
Enterprises providing company services were given some MOP2.9 million in subsidies in the same period, amounting to 18.2 per cent of the total.
The young start-up aid scheme offers interest-free loans of up to MOP300,000 (US$37,500). Entrepreneurs aged between 21 and 44 are eligible for a loan for eight years, with repayments starting after 18 months.
