Export Market Development Grant
What is it?
The Export Market Development Grant (EMDG) is a scheme set up by the Australian Government, which provides financial assistance for small to medium sized Australian businesses who are current or aspiring exporters. Its goal is to encourage Australian businesses to develop export markets. Australian companies that fit the necessary criteria for the grant can potentially receive a reimbursement of up to 50% of expenses incurred on eligible export promotion activities, above a $10,000 threshold. Eligible businesses are able to receive the grant up to 8 times. These grants can be substantial (up to $150,000 a year) and could provide the much-needed injection of funds that your company needs to expand its business overseas.
The EMDG scheme is available for a wide range of industry sectors and products. These include:
- the export of goods and most services
- the export of intellectual property and know-how
- inbound tourism
- events and conferences held in Australia
Companies that are successful will receive their grants in two installments. Generally, the earlier you submit your claim, the earlier you are paid the first tranche. So it’s best to contact us right away if you are interested in applying.
For information on other state-specific benefits, please contact us.
Are you eligible?
- Does your company own the product/service you export or intend to export?
- Is your product made/assembled in Australia, or if it is not, does Australia derive a significant net benefit from the sale of your product outside Australia?
- Is the annual turnover of your company less than $50 million?
You could potentially receive a reimbursement of almost 50% of you overseas marketing activities.
- The grant is only funded to a specific amount each year. However, there is no way of identifying the number of applicants each year. Therefore there is no guarantee that an applicant will receive the full amount of grant that they may be technically eligible for.
- Some of the eligible expenditure criteria have very specific definitions which an applicant needs to be aware of before they apply to ensure eligibility.
- Every applicant can expect a detailed review each year of application
- The timing or the grant’s reimbursement can mean that there could be a gap of up to 18 months between expenditure and the potential reimbursement without careful planning.
What do you do next?
Small and medium sized companies often find it difficult to determine whether they are eligible for EMDG and if so how much to claim for in order to maximise the grant received. That’s where Grants Spectrum Australia (GSA) can help. We can take the hassle out of the application process and ensure that you get the maximum reimbursement that you are entitled to. We can assist you throughout the whole process by:
- determining whether your company’s export promotion activities are eligible for EMDG
- determining the maximum amount that you should claim
- registering your company for the scheme
- preparing and lodging your claim application as early as possible
- providing advice in regards to how you can maximise future claims
- ensuring that you have all the documentation needed to submit a successful claim
- attending any assessments conducted by Austrade.
GSA also works in other fields of government grants such as R&D Tax Concessions and Offsets, Climate Ready and many others. We can determine whether you should apply for any of these other grants and help you with these as well.
Draw on our knowledge and experience to access government financial benefits that will help to grow your business.
Contact us today to discuss in general terms, how well your business matches the eligibility criteria. Contact GSA today on (M) 0418 281 870 or by email at firstname.lastname@example.org for an initial consultation at no cost or obligation.