More money for Australian companies to promote exports
Higher initial reimbursements for promotional expenses are now available for eligible exporters.
Australia’s Federal Minister for Trade and Competitiveness Dr Craig Emerson announced last week that 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, $10,000 more than in 2011–12.
The Export Market Development Grants (EDMG) scheme is designed to help small and mid-sized businesses with the costs of promotion and marketing of their international operations.
“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 extended the EMDG scheme for a further five years, to 2015-16, at $150 million per year.
“The Government is committed to helping Australian businesses to compete internationally,” Dr Emerson said.