Expanding your SME with the Export Market Development Grants (EMDG) program
If your business is looking to expand internationally, find out more about the recent Round 4 updates for the EMDG program in this week's edition of BDO's insights.
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New EMDG updates: What they mean for your SME export strategy
The Export Market Development Grants (EMDG) program, a cornerstone for Australian SMEs aiming to expand internationally, has undergone significant changes. Following a strategic refocus in 2023, Austrade announced that Round 4 will launch in November 2024, introducing several key updates.
Key changes
Maximum grant amounts: A new tiered system offers larger sums for eligible applicants:
First come, first served: Applications will be assessed in the order received, making early submission crucial.
Eligibility criteria: Stricter requirements include minimum annual turnover thresholds and mandatory export training for Tier 1 applicants.
Target markets: Prioritisation of markets in Southeast Asia, the US, UK, India, and China aligns with Australia’s economic strategy.
Compliance measures: Enhanced probity requirements ensure ethical standards and tax compliance.
Implications for SMEs
These updates aim to streamline the applicant pool, ensuring that only businesses with viable export strategies receive funding. While the changes promise larger grants, the new system's competitive nature means early and thorough preparation is essential for success.
Sustainability news
Read our insights for the key developments in sustainability and climate reporting during the past month.
Visit our website for all our sustainability and ESG insights.
Watch our latest sustainability webinar
Explorer Quarterly Cash Update: June 2024 quarter
This quarter, gold emerged as the leading capital-raised commodity, reclaiming the top position from uranium as macroeconomic challenges persist.
Rebounding from a subdued previous quarter, the June 2024 quarter saw a ten per cent growth in exploration expenditure. Download the full report now for all the details.
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Upcoming events and webinars
Visit our website to see more upcoming events and webinars from BDO in Australia.
TP Minds Australia
Join BDO at TP Minds Australia in Sydney from 28 – 30 October.
This premier event offers a unique opportunity to delve into the latest trends in transfer pricing, network with industry experts, and stay informed about critical developments.
Hear from our distinguished keynote speakers including Rebecca Saint, Deputy Commissioner at the ATO, and John De Wijn, Barrister at Owen Dixon Chambers. Register now using BDO’s exclusive 50% discount - offer ending soon.
BDO's Carbon Accounting Masterclass returns in November
Due to the popularity of our previous sessions, we're excited to announce the return of our successful carbon accounting masterclasses across BDO offices in Australia.
Measuring your organisation’s carbon footprint is essential in developing its sustainability roadmap. Join us for a one-day masterclass, either online or in person, where we'll combine theoretical knowledge with case studies and practical experience.
Have you missed a webinar? Watch now on YouTube
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