Eligibility And Application Guidelines For The Export Market Development Grant
Advisory Services News - Issue 56
Good day!
Welcome to this update on ESS BIZTOOLS ADVISORY SERVICES NEWS.
Eligibility and application guidelines for the Export Market Development Grant
Question: A client who is a sole trader has rung me and said that the Export Market Development Grant is open to applications and that he wants to apply. It was his understanding that only companies could apply for this grant. Is that correct?
Answer: Your client is correct. The Export Market Development Grant applies to Australian-based businesses with a valid ABN – whether they are a sole trader, partnership, trust, company or cooperative – with a maximum turnover of $20 Million in the 2023/24 financial year.
Eligible businesses can apply under the tiers relative to this grant.
Tier 1: the applicant is ready to export and has not previously exported. The applicant is required to have an annual turnover of more than $100,000 for the 2023/24 financial year.
Tier 2: the applicant is already exporting and expanding their marketing and promotional activities within the existing markets. The applicant is required to have an annual turnover of more than $500,000 for the 2023/24 financial year.
Tier 3: the applicant is already exporting or promoting eligible products and seeking to expand export promotion activities, and make a strategic shift in the marketing or promotion of eligible products in a foreign country. The applicant is required to have an annual turnover of more than $1 Million for the 2023/24 financial year.
Round 4 of the Export Market Development Grant opens on Tuesday 12 November 2024, and applies to two (2) financial years – 2025/26 and 2026/27. AusTrade has announced that this round will close when the funding has been fully allocated, with APPLICATIONS ASSESSED IN THE ORDER THEY ARE RECEIVED.
The ESS BIZTOOLS Export Market Development Grant package can assist your firm to guide your SME clients on their application. To find out more, contact us on 07 4724 1118 or visit our website – www.essbiztools.com.au.
