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Accounting News

$20m boost for SME clients looking to exporting

Accountants with SME clients looking for export opportunities have been given a leg up with the launch of a government-funded $20 million program.

   

 

The Small and Medium Enterprises (SME) Export Hubs Initiative, announced in the Budget 2018–19, will fund successful applicants to develop local and regional hubs that will help local firms begin to export.

The initiative will provide matched funding from $150,000 to $1.5 million for up to four years from 2018–19 to 2020–21. Matched funding can come from sources other than the Commonwealth, such as state and local governments and industry.

The grant opportunity will support the establishment and operation of SME export hubs in the six growth centre sectors including, advanced manufacturing; cyber security; food and agribusiness; medical technologies and pharmaceuticals; mining equipment, technology and services; and oil, gas and energy resources.

Minister for Industry, Science and Technology Karen Andrews said the grant would help small and medium local businesses cross certain barriers to export.

“Beginning to export can be challenging but there are massive opportunities for Australian firms to take their products, processes and services to big markets in our region and around the world, increasing revenue and creating new jobs,” Ms Andrews said.

“The hubs will help businesses team up with other firms, and through activities such as developing collective brands, [will] take advantage of local infrastructure to boost business operations and position regional businesses to participate in global supply chains.

“We know that this sort of practical assistance can be invaluable for local businesses.”

Interested businesses can apply by 15 October 2018, with selection delivered through a two-stage competitive selection process. You can view the eligibility criteria here.

 

Jotham Lian
21 September 2018
accountantsdaily.com.au

 

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