The SME Business Support Fund is a not-for-profit company set up under section 42 of the Companies Ordinance 1984. It is an integral part of a major SME sector development program (SME SDP), initiated by the Ministry of Finance.

It is a financial support scheme, established for small and medium sized companies (SMEs) to enhance their competitiveness & profitability, through the increased use of business development services (BDS).

A high level meeting was held to discuss the restructuring of BSF. It was decided that Ministry of Finance would take up the ownership of BSF, and its mandate would serve SMEs more effectively and efficiently if it included direct involvement by BSF in the hiring of BDS consultants by SMEs rather than leaving that choice to SMEs alone.