The Export Market Development Grant (EMDG) is a key government financial assistance program designed to help Australian businesses access new export markets .
With the opening and closing period of EMDG for 2022/23 lasting only 1 month, we would urge businesses to get in touch with us sooner rather than later to make the most of this valuable grant.
GrantReady Co-founder, Adrian Spencer says “EMDG has been the backbone of many Australian start-ups as they venture into overseas markets. The program has provided invaluable support for the growth of Australian businesses. We look forward to supporting businesses as round 3 opens up.”
The EMDG scheme can provide valuable financial support to businesses looking to expand into new export markets, and businesses that are new to exporting or have limited experience in exporting are particularly encouraged to apply. The grant can help to offset the costs of developing new markets and can provide valuable support to businesses as they expand into new territories.
We have assisted businesses for over 20 years successfully access this grant which reimburses up to 50% of eligible export promotion expenses, with a maximum grant of $150,000 per applicant.
To be eligible for the EMDG scheme, businesses must have an annual turnover of less than $20 million and be spending money on eligible export promotion expenses. This includes the cost of attending trade shows, marketing and advertising expenses, and the cost of engaging consultants to assist with export development. Check your eligibility
There are some changes to the scheme for the 2023-24 period, and a fast-approaching application window, which could impact many businesses.
As, we previously wrote, a key change to the program is that grant agreements will only be for 1 year, where previously they were 2 or 3 depending on the applicant tier. Austrade hopes this change will allow them to offer higher grant amounts than were available in round 1 and 2.
To apply for the EMDG scheme, businesses will need to complete an online application form and provide detailed information about their export activities. Businesses need to ensure that they have a strong export strategy in place before applying for the grant.
We know that many businesses struggle with this process as it can be complex and is time consuming. Let us do the hard work and use our expertise to help your business. We work with many small to medium businesses to successfully apply for the EMDG grant.
You need to act quickly to secure this grant with applications for the 2023-24 period opening 15 March and closing 14 April 2023.
We are here to support businesses access the funds they need to help grow their business. Our team look forward to hearing from you. Get in touch.