Queensland exporters should start preparing now to apply to Austrade’s Export Market Development Grant (EMDG) scheme when it opens on 1 July.
The scheme – which reimburses eligible exporters for a percentage of their promotional costs in overseas markets – has just received an extra $49.8 million in funding to help businesses deal with expenses caused by COVID-19.
In response to the disruption caused by the pandemic, applications lodged this year can claim expenses for events that have been cancelled due to circumstances beyond a business’s control.
A total of $207.7 million in EMDG funding will available, the highest ever amount for the scheme.
Applicants to EMDG must have:
- income of less than $50 million in the grant year
- incurred at least $15,000 of eligible expenses (first-time applicants can combine two years’ expenses).
They must also 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.
Successful applicants can receive up to 50% reimbursement of eligible expenses, less the first $5,000, with a maximum grant of $150,000 per application.
Eligible expenses include the cost of:
- overseas representation
- marketing consultants and visits
- trade fairs, seminars and in-store promotions
- promotional literature and advertising
- product samples
- bringing potential buyers to Australia
- registration and insurance of eligible intellectual property.
The application period for this year’s EDMG will run from 1 July to 30 November. Exporters should start organising their records and checking what’s required so that they are well prepared to apply later in the year.
More reminders will appear on the TIQ website closer to the opening date.
Helping Queensland exporters promote their products in overseas markets is a key goal of the Queensland Trade and Investment Strategy 2017–2022.