Updated Export Market Development Grants (EMDG) rules have today been tabled in Parliament, refocusing and improving this program for our exporters.
The Albanese Labor Government is committed to supporting Australian businesses grow and expand both here and overseas. We know businesses that export contribute to our economy in a number of ways, and support higher paying Australian jobs.
Since coming to government, a review has been undertaken of the EMDG program, one of the most comprehensive and generous programs of its kind globally. The EMDG program is an important source of support for Australian businesses to start, expand, and diversify their exports into overseas markets.
After extensive business and industry consultation, it was clear that the uncertainty and declining size of EMDG grants significantly reduced the value of the program for our exporters.
The updated rules will see increased grant sizes so that eligible Australian businesses can access more money to support export market activities.
These changes will also allow the EMDG to encourage Australian businesses to diversify their trade by allowing Austrade to identify key markets for grant tiers.
Additional changes include improved eligibility requirements so grants can go to businesses that are ready to start, expand and diversify their exports.
This will be in addition to the ability to show applicants what the maximum grant amounts are up front, giving exporters greater certainty about how much grant funding they will receive if they are successful.
Consistent with other government programs, grants will be awarded to eligible businesses in the order in which applications are assessed, with rounds closing as soon as funds are fully allocated.
For the first time, Austrade will be able to pay eligible businesses part of the grant much sooner after they have been assessed. This will be a significant boost for exporters who have previously had to fund their grant activities out of their own pocket and wait for EMDG payments to arrive later in the grant year or in arrears.
These changes were the result of extensive business and industry consultation and will take effect for the next grant round, which is expected to open later in 2024.
The detailed Guidelines for the next EMDG Grant Round will be issued in coming months and exporters are encouraged to sign up to the EMDG newsletter
