Export Market Development Grant (EMDG) - are you eligible?
Article 2 of 3 on the EMDG scheme.
In my last article, I introduced the Export Market Development Grant (EMDG) scheme, an initiative facilitated by Austrade that provides financial support for eligible Australian businesses to start or expand their export markets.
Which expenses are eligible?
Eligible expenses include, but are not limited to, overseas representation, marketing visits, trade fairs, seminars and in-store promotions, as well as promotional literature and advertising (i.e. Google AdWords), and the costs of registering and/or insuring intellectual property.
How much can my business claim and how many times?
Up to $150,000 of grant funding is available per application, provided you can meet the eligibility criteria. Eligible businesses can apply for a maximum of eight annual grants (non-consecutively).
First-time applicants of the EMDG scheme are required to satisfy grant entry requirements, which include providing financial statements and information that explains your business and your product or service.
Does my business meet the eligibility criteria?
To meet the eligibility criteria and make an EMDG claim, your business must:
Be an Australian business.
Have made an income of less than $50 million in the grant year.
Have incurred at least $15,000 of eligible expenses under the program (first-time applicants can combine expenses from the last two financial years).
Have promoted one of the following:
The export of goods or most services, either made in Australia or made outside Australia where Australia will derive a significant net benefit from its sale overseas.
The export of intellectual property and know-how.
Conferences and events held in Australia.
If your business meets the above criteria, then the EMDG scheme could be for you. The lodgement period is coming up quickly (beginning 1 July), so if you’re eligible to apply for a grant, you should start thinking about it soon.
Should I make the claim myself or outsource the process to a professional?
This will be covered in my next post. Until then, to confirm your eligibility, a detailed checklist is available via our EMDG page. Alternatively, get in touch with myself or a member of the De Stefano & Co team and we’d be happy to walk you through it.