The Export Market Development Grant (EMDG) program is set to undergo significant changes in 2024. To provide a higher level of support to Australian businesses on their export journey, the eligibility criteria and grant structure are being revamped.
Get your EMDG application in early
One of the most critical changes is the introduction of a time-critical submission process. To ensure a fair and efficient allocation of funds, applications will be assessed and grants offered in the order they are received. Once available funding is allocated, the grant round will close. This means it is essential to submit your application as early as possible to increase your chances of securing a grant.
EMDG Key Changes
To ensure funding targets businesses with characteristics of successful exporters, the eligibility criteria for small and medium-sized enterprises (SMEs) have been revised. This includes new minimum annual turnover requirements based on grant tiers:
- Tier 1: More than $100,000 per year
- Tier 2: More than $500,000 per year
- Tier 3: More than $1 million per year
Businesses applying for Tier 1 grants will need to demonstrate their export readiness by completing approved export training or passing a designated test.
While businesses can still receive EMDG grants for a total of eight financial years, there are new limits on how long they can hold specific tier grants:
- Tier 1: Maximum of 2 years
- Tier 2: Maximum of 4 years
- Tier 3: Maximum of 4 years
Expected Outcomes of Round 4 EMDG Applications
- Approximately 1,900 grants will be available in Round 4 across all tiers.
- Grants will be awarded on a first-come, first-served basis.
- Due to limited funding, not all applicants will be successful.
Applications for the revamped EMDG program open at 10am AEDT on 12 November 2024. Given the first-come, first-served basis for grant allocation, early submission is crucial.
Contact Fullstack Advisory if you plan to apply for the EMDG for expert assistance. Our EMDG specialists work with tons of exporters and will work towards a quick professional turnaround for your application.
