The export market development grant, or also known as EMDG, is a scheme that relates to the program created by the Australian government. Administered by the Austrade, this key serves financial assistance to the current and aspiring exporters of the country. Although this has been used by the governing sectors for a few years now, it is undeniable that most individuals still do not have a lot of ideas about such a concept.
In assistance to this, below are the necessary things locals and foreigners should know.
The scheme of EMDG
As being said, the EMDG grant in Australia focuses on the assistance to the country’s exporters financially. Generally, this supports a wide range of prominent businesses in the industry.
- Eligible applicants will be receiving money from the sector. In total, the program will be providing no less than eight grants.
- A business that is within the range of no more than $15,000 and no less than $5,000 total expenses for the eligible expert promotions can apply for a 50% reimbursement of the amount.
- The program also encourages small and adequate businesses in Australia to develop and commit to export markets.
- Lastly, the program covers the expenses in registration and insurance of any eligible intellectual properties, overseas buyers, promotional advertising and literature, seminars, trade, and in-store promotions, free samples, marketing consultant fees, and overseas representation.
The criteria for eligibility
Not all businesses can apply and be accepted in such a program. In particular, there are only a few that are eligible enough to be considered. As such:
- The business must primarily have activities for export promotion during the year the owner or manager is applying to.
- The establishment must have a total of not less than $50 million of income.
- The primary vision of the business must promote the products to the people residing in other countries.
- The applicant must be the principle, and not an agent, in the field of product exportation; the variation of products is not limited as long as the items are legal.
Just like its scheme, the EMDG’s stakeholders comprise a long list. Specifically, Austrade works with the clients who have applied for grants including the small-sized and medium-sized Australian businesses, the consultants who can effectively prepare the claims of EMDG, few associations in the industry including the Australian Industry Group, the Australian Chamber of Commerce and Industry, the Export Council of Australia, and the Export Consultants Association Incorporated, and several organizations that are sector-specified.
Potential clients can apply by completing and submitting their applications online – this includes the required and copies of legitimate documents. The specified time for this application is within the first week of July until the last week of November. As an alternative, people can also use a reliable EMDG Quality Incentive Program or EMDG QIP to lodge their claims; for more information, visit the EMDG grant in Australia.