Export Market Development Grants 2022
Austrade have just announced that the 2nd Round for making applications under the new the Export Market Development Grants (EMDG) program will soon open for a limited time.
- Opening Soon: Announcement from Austrade Imminent, watch this space
Under the new EMDG program, eligible SMEs are able to apply for forward grant funding over multiple years to cover eligible marketing and promotional activities.
The eligible marketing categories are:
- Overseas Representatives
- Marketing Consultant/Agent
- Short trips to a foreign country
- Short trips within Australia
- Soliciting for business in a foreign country
- Free Samples
- Promotional literature and Advertising
- Overseas Buyers
- Overseas Patents and Trademarks
The new EMDG program provides 3 Tiers of grants:
- Tier 1 – first time exporter
- Tier 2 – existing exporter / existing product(s)
- Tier 3 – existing exporter undertaking a major strategic shift – new products/ new markets
How much can you receive?
The likely grant amounts for Round 2 will be determined once applications are closed and assessed. As the annual program funding is capped at approximately $150m the grant amount will be divided equally by the number of eligible applicants within each tier.
The grant amounts in the first round FY 2021-22 may give some guidance, assuming the application demand and funding remains stable:
- Tier 1 – up to $15,000 per financial year
- Tier 2 – up to $24,600 per financial year
- Tier 3 – up to $36,600 per financial year
- Representative bodies – up to $90,000 per financial year
Once applications are assessed eligible exporters will be offered a forward grant agreement – Tier 1 applicants will receive a 2 year agreement and Tier 2 and 3 applicants a 3 year agreement. The grant is designed to cover 50% of eligible export marketing expenses paid for from the 1st July 2022 to either the 30/6/24 for Tier 1 applicants OR up to 30/6/25 for Tier 2 and 3 applicants.
Please note: Eligible exporters are only eligible to claim EMDG grants for a maximum of 8 years so any claim history under the prior program from 1992 will be included in assessing eligibility – this includes picking up any claim history from a prior entity operated by the same owners undertaking the same type of business activities.
Further information can be found on the Frequently Asked Questions and you can download the Guidelines at EMDG Grants Guidelines and legislation.
– Export Market Development Grants Second Round 2022 –
Services
Ryan can assist with services such as:
- Scope your potential to claim various grant programs
- Assist with the preparation and lodgement of grant applications
- Review or provide a health check on your internally prepared grant applications
- Establish record-keeping practices as required under various grant programs
- Provide prepayment loans against future cash refunds under the R&D Tax Incentive
- Keeping industry informed on all new Government policy and grant initiatives
Don’t hesitate to give us a call.