EMDG is the cornerstone funding for SME’s looking at growing their business in new overseas markets. Recent Austrade changes to the program have seen it become more competitive and the overall value decline.
As we’ve previously written about here this has been a shock to businesses and burnt business plans for growth and expansion overseas.
Round 3 a resurgence?
Round 3 figures have just been released and could this be a resurgence of the EMDG program? We’re relieved to see that there’s been an increase in funding from round 2. With the following maximum grant amounts being offered to reimburse 2023-24 expenditure:
- Tier 1: up to $12,000
- Tier 2: up to $20,000
- Tier 3: up to $30,000
Is the increased amounts for Round 3 indicative of a future trend? Is this a EMDG resurgence or just a tweak? We’ll have to wait and see.
EMDG Successes – Fashion, tech and off-roading
Over the past 10 years GrantReady has helped many businesses across a range of industries successfully access EMDG grants. Businesses have expanded globally, launched new products in new markets and thrived. Some of the exciting EMDG successes we have seen are:
- A Melbourne based fashion design house that engaged agents across Europe and the US to help get their collections into showrooms and onto catwalks
- An offroad vehicle accessories business that is leveraging EMDG funds to offset the cost of attending international trade shows, including airfares, event tickets, booth costs and expenses related to shipping goods for display at events
- A Sydney technology company that has developed a global event ticketing platform and is using EMDG to offset the cost of having sales representatives in key markets around the world
GrantReady will continue to support all its clients to access the full amount of the EMDG, so that Australian Businesses can continue to grow and thrive globally. We will also continue to advocate for a more effective EMDG scheme.
Get ready to report your milestones
Ready to receiving your EMDG payment? If you have secured EMDG funding for 2022-23, GrantReady are now ready to report your milestones.
The EMDG online portal will be open for Round 1 and Round 2 milestone reports for expenditure during the 2022-23 financial year from Monday 10 July 2023 (and will close on 31 October 2023).
No milestone report, no payment! Even if you received an early grant payment for expenditure incurred in 2022-23, a milestone report still needs to be submitted. We will be in touch with all our EMDG clients to ensure your milestone reporting is ready so you can receive payment.