Eligible exporters will receive a higher initial reimbursement for their promotional expenses under the latest round of the Export Market Development Grants scheme.
Trade and Competitiveness Minister Craig Emerson said today those exporters who successfully applied for grants of up to $60,000 would receive the full amount under the budget allocation for the 2012-13 financial year. This compares with $50,000 in 2011-12.
The EMDG scheme is one of the ways in which the Australian Government helps small and mid-sized businesses with the costs of promotion and marketing of their international operations.
Recipients for the 2011-2012 grant year, paid in 2012-13, with an entitlement up to and including $60,000 will be paid in full. Those with entitlements above this will receive a second-tranche payment at the end of June 2013, the size of which will be determined at the time.
"An initial payment of up to $60,000 provides recipients with a healthy immediate cash flow, which is always welcome at smaller companies," Dr Emerson said.
In the 2010-11 Budget, the Gillard Government committed to funding the EMDG scheme at $150.4 million a year, and also extended it for a further five years, to 2015-16.
"The Government is committed to helping Australian businesses to compete internationally," Dr Emerson said.
"These marketing grants are a practical way to offset some of the costs of doing business globally," he said.
27 June 2012