The Federal Government’s expansion of the Export Market Development Grants (EMDG) scheme is a positive move for Australian business, says Australian Industry Group (AiGroup) chief executive, Innes Willox.
Mr Willox says the government’s decision to pour an additional $50 million into the scheme is timely as many companies – including manufacturers – explore overseas markets to diversify their business.
“This has long proven to be a popular scheme among exporters and increasing the claim limit from seven to eight will support long term exporters in what is a challenging international environment,” he said.
“Reducing both the deduction and threshold for claims will ensure that emerging exporters, more likely to use non-traditional forms of marketing such as social media and AdWords rather than trade shows, will be able to claim EMDG earlier in their exporting journey.
“The overall success and take up of schemes such as EMDG is not isolated from the need for a domestic business environment that supports competitive and innovative companies who are able to compete on the world stage.”