Secretary for Commerce & Economic Development Algernon Yau today officiated at the opening ceremony of a sourcing fair that aims to assist small and medium-sized enterprises (SMEs) in undertaking technology transformation and enhancing competitiveness.

The two-day SME ReachOut: Tech+ SME Sourcing Fair 2023 is the first large-scale event organised under the enhanced services of SME ReachOut.

Addressing the opening ceremony, Mr Yau said the Government has allocated $100 million to enhance the services of SME ReachOut in the next five years.

He was also pleased to note that the enhanced services had started to roll out this month, including strengthening the support to SMEs on government funding applications and providing capacity-building services for them.

​Noting that the sourcing fair will allow SMEs to obtain the latest market information and facilitate them in identifying solutions that suit their business needs, Mr Yau encouraged the trade to make good use of the various support measures and ride on the momentum of the post-pandemic recovery to expand their businesses.

Operated by the Productivity Council under government support, SME ReachOut started running in January 2020 to help SMEs identify suitable government funding schemes and answer questions related to applications.

The enhanced services rolled out this month will include arranging more visits to trade and industrial organisations, co-working spaces and commercial and industrial buildings as well as increasing the capacity of handling enquiries and one-on-one free-of-charge consultation sessions.

Capacity-building services, from one-on-one technology or business know-how consultation meetings, networking events to annual large-scale events such as this sourcing fair, will also be provided to SMEs.

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