More businesses should now receive the full $150,000 Export Market Development Grant (EMDG).
An additional $49.8 million has been made available under the EMDG program to support Australian businesses with cash grants of up to $150,000 to sustain and grow their export activities.
The EMDG program funds up to 50% of eligible marketing and business development expenses in international markets to expand export opportunities for Australian businesses. Historically, the grant has been paid in two tranches, with cash grants of up to $40,000 guaranteed and additional funding up to the $150,000 grant cap offered subject to total program funds, meaning many Australian businesses received significantly less than the full $150,000.
Through this additional funding, total EMDG program funds for the 2019-2020 year will be raised to $207.7 million. Further, the Export Performance Test applied to those who have received grants in previous years will also be waived in the 2019-2020 year. As a result, many more Australian businesses should receive the full $150,000 grant, providing greater support to export market development activities.
How can ShineWing Australia help?
Applications for the Export Market Development Grants open from July 1 2020. Get in touch with ShineWing Australia to find out how you can maximise your benefit from this opportunity.