Calibre Business Advisory can help companies of all shapes and sizes make the most of the Australian Government’s broad range of incentives and offset programs. We find that applicants typically have a lot of questions about these schemes, which is understandable.
If you are considering capitalising on the EMDG grant, we encourage you to contact our experienced team of business advisors for tailored advice. In the meantime, continue reading to learn more about the types of frequently asked questions our clients tend to have.
What is the EMDG grant?
The EMDG grant, or Export Market Development Grants, is a program provided by the federal government to help businesses market and promote their goods and services to an international audience.
Building an international customer base is often the next step in the evolution of a business. Unfortunately, the costs required to do so may make doing so simply impossible, regardless of the benefits it will bring. The EMDG grant aims to help facilitate this process by providing financial aid to eligible companies looking to attract interest offshore.
The EMDG grant is divided into three separate tiers. Regardless of the stage you are at in your export journey, there is support available for small to medium enterprise (SME) exporters.
Tier 1 — (grants offered up to 2 years): For SMEs that are:
- Ready to export in the grant year
- Have not exported before
- Possess appropriate skills in marketing products to foreign markets.
Tier 2 — (grants offered up to 3 years): For SMEs that are:
- Exporting eligible products
- Seeking to expand export promotional activities for eligible products.
Tier 3 — (grants offered up to 3 years): For SMEs that are:
- Exporting eligible products
- Seeking to expand export promotional activity
- Ready to make a strategic shift in the marketing of eligible products in a foreign company.
What are the eligibility requirements for the EMDG grant?
The eligibility criteria for the EMDG grant is as follows:
Eligible SME exporters must:
- Have a turnover of less than $20 million for the financial year prior to the financial year the application is being made.
- Be an Australian person as per the EDMG Rules 2021.
- Have an Australian Business Number (ABN).
EMDG eligibility criteria also governs the type of activities that will be covered and the nature of products to be marketed. For specific guidance, contact Calibre Business Advisory.
How much is offered as part of the EMDG grant?
Each grant round, the grant amounts offered depends on a number of factors, including the number of applications and the total amount of funding available.
The federal government decide on the final grant amounts after they assess all applications.
As a guide, the grant amounts in the first round in financial year 2022-23 were as follows:
- Tier 1: Up to $15,000 per financial year
- Tier 2: Up to $24,600 per financial year
- Tier 3: Up to $36,600 per financial year.
Keep in mind that this may change depending on the total number of applicants.
How do you apply for the EMDG grant?
Round 2 of applications recently opened and can be submitted up until 17 August 2022 at 4pm.
As part of your online application, you will need to prove that your company is eligible and that the products you are marketing are eligible, demonstrate a plan to market, and prove your turnover in the most recent financial year was less than $20 million.
Submitting an application is not particularly difficult but it can be time consuming. For small and medium sized businesses, the thought of having to set aside resources to complete this task can be enough to put them off applying at all. If this describes your situation, consider reaching out to Calibre Business Advisory to seek assistance navigating the process.
What other grants and offset programs can Calibre Business Advisory assist me with?
Calibre Business Advisory’s team of trained and experienced business advisors can help companies of all shapes and sizes make the most of the grants, incentives, and other offset programs offered by the Australian Government. This includes the R&D Tax Incentive, the Small Business Tax Offset, and other similar incentives.
In addition to helping you apply for these schemes, Calibre Business Advisory can assist you incorporate them into your overall financial and operational strategy. With extensive experience helping businesses across a variety of industries make the most of these programs, we can provide assistance and support at all stages of the application process.
For more information about the EMDG grant or to discuss other schemes your business may be eligible for, contact Calibre Business Advisory today.