The potential threat of the spiralling euro-zone debt crisis and the wobbly economic outlook for the United States has prompted mainland central government, and the Guangdong and Hong Kong authorities, to introduce measures to help SMEs.

Hang Seng Bank economists yesterday forecast the mainland's economic growth would slow to 8.3 per cent this year from 9.2 per cent last year, with the export sector to be hit hard as demand in the West slumps.

A Hong Kong deputy to the National People's Congress said measures to help SMEs were needed as small businesses are the pillar of economic growth, jobs and social stability. "Governments are worried about the SME situation in light of the global economic outlook," she said. "More measures will be unveiled after the National People's Congress meeting next month."

Among Beijing's measures is the 15 billion yuan fund, to be set up by the Ministry of Finance. Zhu said the ministry would put 3 billion yuan a year into the fund over five years.

In export-oriented Guangdong, the government a few weeks ago floated plans to support the province's one million SMEs by lowering their administrative fees and social welfare contributions, offering favorable prices on industrial sites, and helping them access bank financing and new markets.

In Hong Kong, Financial Secretary John Tsang Chun-wah announced in his budget speech last week a loan guarantee scheme under which the government will commit HK$100 billion in loans to SMEs and guarantee up to 80 per cent of a company's borrowing. The Hong Kong Mortgage Corporation plans to set up a HK$100 million fund offering microloans to encourage the self-employed and help cash-strapped start-up companies, while the Hong Kong Export Credit Insurance Corporation will offer discounts of 5 to 10 per cent on insurance premiums to exporters.

At present B2B e-business is booming in China, SMEs, self-employed companies and cash-strapped start-up companies can seek business opportunities there.

IBUonline is a B2B platform, which has offered foreign trade entrustment service and other paid service for product promotion and marketing.

You will find more details about IBUonline when you go to the homepage.

Author's Bio: 

IBU is more than an international business platform; we not only connect global buyers and suppliers, but also participate in the whole process of international trade, provide a series of practical services (off the platform) to greatly enhance the efficiency of global trade. Working with us, you can benefit from the real one-stop service for the first time.