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$50 MILLION BOOST TO HELP SMALL BUSINESSES EXPORT

12 March 2014

 

Small and medium sized businesses will be able to improve their export potential under the federal government’s $50 million boost to the Export Market Development Grants (EMDG) scheme.

Federal MP John Alexander said the Government was also seeking to enhance the way the EMDG scheme is administered after it was cut by $25 million a year by the previous Labor government.

New legislation has been introduced into the parliament to give effect to the changes which will also make the scheme more accessible to businesses looking to export.

“For example businesses looking to pursue their first export sales will now be eligible for a $5,000 grant, if they spend $15,000 on export promotion, whereas previously they would have received nothing. Previously, they had to spend a minimum of $20,000 to be eligible,” Mr Alexander said.

“Established exporters would also now be eligible for up to eight grants under the program whereas previously the maximum number was seven.

“These grants assist small and medium sized businesses to enter new export markets and become self-sustaining exporters and employers.

“We want to make Australia one of the best places to start and grow a business and these grants help in that pursuit,” Mr Alexander said.

“Local businesses like Ascension Pacific Pty Ltd at Carlingford, O’Hara Designs Pty Ltd at Tennyson Point and Access Macquarie Ltd at Macquarie University are already benefiting from the program.

“Export markets are our future and these grants will help small businesses access markets they may not have thought possible.”