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To give you the opportunity to expand and leverage export opportunities for goods, services, intellectual property and know-how, the Export Market Development Grant (EMDG) program is the Federal Government’s cornerstone funding program that encourages and supports Australian businesses with turnovers under $20m.
With grants currently being issued under the FY22 program for future funding, now is the time to turn your attention to the FY23 program kick off. As the EMDG program is forward looking with upfront certainty, you are able to plan in advance the categories of spend that you may have, as well as the countries where you want to market products or services.
EMDG is self-assessment and entitlement based, allowing organisations across all sectors and entity structures to access guaranteed funding if you qualify and meet the EMDG requirements. Successful applicants gain clarity on support available for up to three years, allowing for increased certainty to plan offshore marketing or strategic market shifts effectively, with the support of the program funding.
The grant amount available is governed by a pool of funds and the number of applicants within the program, meaning the exact grant amount is not predetermined and can be up to $150,000 per annum. This funding is based on 50% reimbursement of your planned eligible expenses.
Read more about the costs you can claim under EMDG here.
Austrade has indicated that organisations will have only four weeks to collate information and process applications once the FY23 program opens. Now is the time to be proactive and prepare for the application process. Our team can assist with your business plan and help you identify costs that may qualify – simplifying your application process and increasing your potential to access funding.
Grant Thornton has developed a seamless system for the FY23 forward phased approach based on the large number of successful applicants supported in the past. We conduct an in-depth discussion with each client to understand their exporting needs and desires, working with them to attain the most benefit out of the EMDG program. Our full service and support starts from EMDG applications, writing business plans to auditing and completing milestone reports and liaising regarding grant refunds.
Please reach out if you would like to have a meeting to discuss your eligibility for FY23.
