If you are considering or already are exporting your goods or services then you should be aware of the financial assistance provided by the Federal Government through AusIndustry known as the Export Market Development Grant.
What is the Export Market Development Grant?
The Export Market Development Grant (EMDG) scheme is an Australian Government financial assistance program for aspiring and current exporters administered by Austrade.
What are the benefits of the EMDG?
The EMDG
- encourages small- and medium-sized Australian businesses to develop export markets
- reimburses up to 50 per cent of eligible export promotion expenses above $5,000 provided that the total expenses are at least $15,000
- provides up to eight grants to each eligible applicant.
Who can apply?
Any Australian individual, partnership, company, association, co-operative, statutory corporation or trust that has carried on export promotion activities during the year for which they seek an export grant can apply.
To be eligible, the business must have:
- income of not more than $50 million in the grant year;
- Incurred at least $15,000 of eligible expenses under the scheme (first-time applicants can combine two years expenses); and
- Principal status for the export business (some exceptions apply, such as non-profit export-focused industry bodies).
The business also must have promoted one of the following:
- Export of goods or most services;
- Inbound tourism;
- Export of intellectual property and know-how;
- Conferences and events held in Australia.
What expenses can be claimed?
There are 8 categories of promotional activities which can be claimed:
- Overseas representatives (excludes commission, maximum $200,000 per application);
- Marketing consultants (Maximum $50,000 per application);
- Marketing visits (incudes maximum 21 day allowance @$350 per day);
- Free Samples (Maximum $15,000 per application);
- Trade fairs, seminars, in-store promotions;
- Promotional Literature;
- Overseas buyers (Maximum $7,500 per buyer and $45,000 per application); or
- IP Registration and related insurance.
How do I Apply?
We have assisted a number of clients in successfully applying for the EMDG. The application must be lodged online on or before 2 December each year.