Capital benefits
Exporting from the ACT has many benefits: an experienced and highly skilled workforce, proximity to government, education and research facilities, a comprehensive telecommunications infrastructure and lifestyle options.
However, challenges include the lack of smart capital or private sector investment, the need to establish Canberra as a brand in the international market, and the need to encourage ACT businesses to adopt a more commercial mindset and cultivate an export culture.
To meet these challenges head on, the 2009/10 ACT Budget, handed down on May 5, included $3.1 million for business and economic development. The package supports a range of measures to assist exporting firms including:
- The ACT Exporters’ Network: an industry-led mentoring and information-sharing network;
- TradeConnect: a program that provides small grants to support access to professional business services;
- The ACT Government Trade Mission Program: a bi-annual program delivered in partnership with Austrade to introduce new exporters to overseas markets; and Ongoing support for the ACT Chief Minister’s Export Awards, which is managed by the Canberra Business Council on behalf of the ACT Government.
Other measures include the ACT government’s plans to take a census of export activity and develop a comprehensive database. Further, Canberra Airport Propriety Ltd is currently redeveloping Canberra Airport with a view to increase its capacity and potentially accommodate international flights. International flights linking Canberra to key overseas markets such as Los Angles, Tokyo and Beijing would expedite business travel for exporters and facilitate inwards investment.
The ACT’s export growth is no longer tied to the sheep’s back, but to the development of its enterprising knowledge economy. Maybe the idea of a ‘smart country’ isn’t a myth after all?
Capital connections
Are you an ACT company looking to step up to the next level in your export business? Help is at hand with the ACT government’s TradeConnect program (TCon). Launched in July 2008, the program assists ACT companies with building global opportunities and enhancing their international competitiveness through small dollar-for-dollar step-up funding grants that facilitate access to a range of export related services and activities.
TCon has four funding support elements including in-country assistance, tradeshow assistance, global market research, and coaching/mentoring services.
Since the commencement of the program, ACT companies have been supported in activities in a variety of overseas markets including the UK, USA, Japan, South Africa and New Zealand.
The level of uptake has been reported as steady with applications assessed on a bi-monthly basis. The program has supported 13 ACT companies to date.
As a response to feedback from the business community, and to bring the funding support offered in line with other jurisdictions, individual grants will be increased to $10,000, with a maximum of $30,000 over a three-year period, effective from July 1, 2009.
Trade links
ACT Exporters Network: www.actexportersnetwork.com.au
Business and Industry Development: www.business.act.gov.au
Canberra Business Council: www.canberrabusinesscouncil.com.au
Pages: 1 2
