The Australian Government’s next round of the Export Market Development Grant opens on Tuesday 12 November 2024 at 10am AEDT. Funding is limited, so as accountants and business advisors, it is crucial that you communicate to your eligible clients, to encourage them to prepare and submit applications promptly, as grants will close once the budgeted allocation is met.
Eligibility Criteria
Open to SMEs with a turnover of less than $20 Million in 2023/24 Financial Year.
Businesses must be involved in exporting goods, services, events, Intellectual Property, software, or ‘know-how’ from Australia, or offering services to overseas residents.
Grant Support Tiers
Tier 1: For new exporters with turnover over $100,000. Requires an Austrade approved export-readiness training, which is reimbursable.
Tier 2: For businesses expanding export activities in existing markets with turnover over $500,000.
Tier 3: For businesses entering new ‘key markets’, described by Austrade, with turnover over $1 Million, focusing on strategic export shifts.
Each business can apply under one tier per round and must have held the same ABN for at least two years.
Grant Period and Funding Levels
The grants cover a two-year period (2025/26 and 2026/27). Funding per year is as follows:
Tier 1: $20,000-$30,000
Tier 2: $20,000-$50,000
Tier 3: $20,000-$80,000
Businesses can receive up to $770,000 over eight years (not necessarily consecutive).
Application Requirements
Each applicant must submit a tailored ‘Plan to Market’ document detailing:
- Eligible products and proposed export activities
- Target markets and business goals (all overseas markets, except New Zealand, and countries subject to Australian Government sanctions)
- Plans for tracking export success
- Promotional budget and past export activities
The ‘Plan to Market’ must be unique to each applicant, as per Austrade’s guidelines.
Eligible Expenses
Reimbursable expenses include:
- Foreign representation and marketing trips
- Market research and consultant fees
- Foreign buyer visits and sample forwarding
- Promotional materials
Export Market Development Grant Information Webinar
ESS BIZTOOLS presented an informative webinar, providing an in-depth information on Export Market Development Grant, and how you as an accountant and business advisor to SMEs can generate profitable revenue by providing assistance with their application process.
BIZ AID by ESS BIZTOOLS
ESS BIZTOOLS has developed the Export Market Development Grant Product Package that you can utilise to not only assist your SME clients with the grant application process, but to provide opportunity for an income for your firm (our Managing Director, Peter Towers, believes that a professional fee of $500-$1,000 plus GST per client is adequate).
This package is available for $250 (plus GST) for a 12-month access, and can be utilised for as many clients as you wish.
CLICK HERE to find out more and to subscribe.
Remember, applications open on Tuesday 12 November at 10am AEDT.
Visit our website – www.essbiztools.com.au – to discover the detailed overview of the services provided by ESS BIZTOOLS. You are also welcome to contact us on 07 4724 1118 or email peter@essbiztools.com.au.
Alternatively, CLICK HERE to book a complimentary Zoom meeting with our Managing Director, Peter Towers.
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