Stay up-to-date by signing up to receive Michael’s eNewsletter.Subscribe Now
Funding Boost to Support Exporters in Deakin
The Coalition Government has moved to help small and medium sized businesses Deakin to reach their export potential with a $50 million boost to the Export Market Development Grants (EMDG) scheme.
Michael Sukkar, Federal Member for Deakin, said the Government was also seeking to enhance the administration of the EMDG scheme after it was cut by $25 million a year by the former Labor government.
New legislation has been introduced into the parliament to give effect to the changes which will also make the scheme more accessible to businesses looking to export.
“For example, businesses looking to pursue their first export sales will now be eligible for a $5,000 grant if they spend $15,000 on export promotion, whereas previously they would have received nothing. Previously, they had to spend a minimum of $20,000 to be eligible,” Mr Sukkar said.
“Established exporters would also now be eligible for up to eight grants under the program whereas previously the maximum number was seven.
“These grants assist small and medium sized businesses to enter new export markets and become self-sustaining exporters and employers.
“We want to make Australia one of the best places to start and grow a business and these grants help in that pursuit.”
Mr Sukkar said the Government was delivering on its election promises by driving growth and innovation.
“Local businesses – including manufacturers of motor vehicle parts, specialised machinery and textiles – are already benefiting from the program,” he said.
“Export markets are our future and these grants will help small businesses access markets they may not have though possible.”
Media contact: Kate Bruce-Rosser on (03) 9874 1711.