EMDG Update in December
We would like to update our valued clients and business owners on the latest developments in the Export Market Development Grants (EMDG) program, based on the recent newsletter from Austrade and our own insights as Australian grants specialists.
Any applicant that has a grant agreement at the moment will receive their grant. These are applicants that will have expenses in the following Financial Years
Round 1 Financial Year 2022 to 2024
Round 2 Financial Year 2023 to 2024
Round 3 Financial Year 2024
These grants will all finish in June 2024. Final Payment will be in the period July to October 2024.
There will be NO new applications or grants offered in the 2024-2025 financial year. That is – NO EMDG for 2024-25 expenses.
Applications for the 2025-2026 Financial Year should be open between November 2024 and January 2025. Once lodged they will be assessed and a grant agreement offered for FY 2025-2026.
At this stage Austrade are indicating they will provide UP FRONT payments which means around July 2025.
The government has lowered EMDG available funds for the 25-26FY onwards to no more than $60 Million. (down from $110 million in 2022 and $200 million in 2000)
This outcome is because Austrade did not design or implement the current scheme satisfactorily and have run out of money for the 2024/25 financial year.
So Austrade are currently undertaking a Strategic review which is designed to cut the numbers of applicants for the EMDG.
The early indications are that they will reduce the number of destinations that EMDG can be used for and make the size,experience and viability of the business key factors in assessment.
Vebiz will keep you updated as information is made available by Austrade.
Vebiz continues to lobby for the continuation of the EMDG, increases in funding and to maintain the present destinations and business eligibility that has allowed Vebiz clients to expand their export sales.
We do this personally and through our Association of Export Market Grant Consultants.
Support by way of political focus from the business community, business associations and especially our export clients can only improve the program and possibly obtain better outcomes for your business and the Australian community in general.
We will ensure you can maximise your Export marketing dollar as soon as Austrade announce their new rules and guidelines.