The Export Market Development Grant (EMDG) is a government-funded program in Australia that provides financial assistance to Australian businesses looking to increase their exports. The program was created to help Australian businesses expand their reach, promote their products and services in international markets, and increase their competitiveness in the global marketplace.
Eligibility Criteria
To be eligible for the EMDG, businesses must meet the following criteria:
- Be an Australian-based company with an ABN and operate in Australia
- Have a turnover of less than $50 million per annum
- Derive at least 50% of their income from exports
- Have spent at least $15,000 on eligible promotion expenses in the financial year being claimed
Eligible Expenses
The EMDG program covers a wide range of expenses related to promoting and exporting products and services. Some of the eligible expenses include:
- Market research and surveys
- Marketing consultants and agencies
- Trade fairs and exhibitions
- Advertising and promotion
- Freight and insurance costs for samples and promotional material
- Travel expenses for overseas visits
- Intellectual property expenses
How to Apply
The application process for the EMDG is simple and straightforward. Businesses can apply online via the Austrade website. The application process requires detailed information about the business, including financial information and details of eligible expenses.
It's important to note that businesses must apply for the EMDG within 12 months of the end of the financial year being claimed. The program is highly competitive, and businesses are encouraged to apply as early as possible to ensure they have the best chance of success.
Benefits of the EMDG
The EMDG provides financial assistance to help businesses increase their exports and reach new markets. The program is designed to help businesses overcome the challenges of exporting, such as marketing costs and barriers to entry. By participating in the EMDG, businesses can increase their visibility, build their brand, and increase their competitiveness in the global marketplace.
Conclusion
The Export Market Development Grant (EMDG) is a valuable program for Australian businesses looking to increase their exports. The program provides financial assistance, covers a wide range of expenses, and is easy to apply for. If you're an Australian business looking to increase your exports, consider applying for the EMDG and take advantage of the benefits it provides.
Link to the EMDG program: https://www.austrade.gov.au/international/trade-missions-and-events/funding-and-support/export-market-development-grant-emdg