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Applications open for second round of Export Hub funding

Applications open for second round of Export Hub funding article image

SMEs are being encouraged to access global markets with applications now open for round two of the federal government Export Hubs Initiative.

The initiative supports industry to develop hubs in local and regional areas, giving local firms access to international markets and help create more jobs.

“The SME Export Hubs Initiative is a critical part of the Government’s broader economic plan to create 1.25 million new jobs over the next five years,” Minister for Industry, Science and Technology Karen Andrews said.

“Export hubs provide local businesses with market intelligence about export opportunities and access to global supply chains that align with the competitive strengths of the local area.

“The initiative builds business networks to help small and medium businesses harness opportunities in international markets, particularly where the Government has signed free trade agreements including in China, Japan, Korea and Indonesia.”

Six key sectors

Export Hubs can operate in six key industry sectors: advanced manufacturing, cyber security, food and agribusiness, medical technologies and pharmaceuticals, mining equipment and services, and oil, gas and energy resources.

These sectors were identified under the Government’s Industry Growth Centres Initiative as having future economic and jobs growth potential for Australia.

The SME Export Hubs Initiative will provide each hub with matched funding of up to $1.5 million for up to three years from 2019-20 and 2020-21.

Matched funding can come from sources other than the Commonwealth such as state and local governments and industry.

Nine export hubs were successful in round one of the initiative, with more than $5.7 million in grant funds awarded.

For more information visit: https://www.business.gov.au/SMEEH

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