A total of MOP42.01 million was disbursed by the MSAR Government to local SMEs (small and medium sized enterprises) in the month of September under the SME Aid Scheme, a surge when compared to the MOP840,000 released in August.
The data released by the Macao Economic Services (DSE) shows that the number of applications for the aid scheme amounted to 79 during the month. In total, 109 requests for the scheme were approved in September, according to the DSE information.
Implemented in 2003 and updated in 2012, the fiscal relief measures aim to provide interest-free business loans to a maximum value of MOP600,000 per applicant for different financial purposes, with a repayment period of up to eight years.
The Aid Scheme is one of three SME-specific schemes in place.
During the month of August, there were nine applications for the SME Credit Guarantee Scheme, however none were approved during the month.
A third scheme, for specific projects, did not see any applicants or approvals during the month.
Regarding the ratio of industries for the different SME support schemes in 2017, businesses related to construction and public projects received the largest amount under the SME Credit Guarantee Scheme, accounting for 27.6 per cent of total funds approved under the scheme so far this year.
Regarding the SME Aid Scheme, the retail industry received the most support during the nine months, amounting to MOP64.5 million, taking up 31.8 per cent of the total amount distributed in 2017. This was followed by the construction and public projects industry, occupying 15.1 per cent, with MOP30.6 million provided.
The two greenlighted applications under the specific projects scheme were equally divided between construction and wholesale, at MOP1 million each. The scheme offers credit guarantees of up to 100 per cent of approved bank loans for SMEs to finance special projects.
Amount for young start-ups increased
On the other hand, the DSE disbursed some MOP7.72 million via its young entrepreneur aid scheme during the month of September, posting an increase of 34.3 per cent month-on-month.
The DSE approved 42 applications in September, while declining four applications and receiving 21 new applications.
For the year 2017, the majority, or 47 per cent of young entrepreneurs who have received support from the young start-up aid scheme, were involved in retail, obtaining some MOP19.24 million.
Stable application for IP
For applications relating to intellectual property (IP), a total of 1,018 applications were made during the month of September, two less than in the previous month and 63 less than in the same month last year.
During the month, the DSE received 54 applications for extensions of invention patents, 12 applications for industrial designs or models, three invention patent requests, one utility patent application and one request for the name and emblem of an establishment.