The Trade Minister, Craig Emerson announced the initial payment ceiling for the EMDG scheme will be increased to $50,000 for the 2011 grant year which just ended, compared with the pathetic $27,500 which was paid in 2010. In making the announcement the Minister suggested the reduced demand for EMDG grants over the previous grant year, coupled with changes to the scheme in 2010, have permitted a higher initial payment this grant year.
The initial payment ceiling is the maximum amount that will be paid as a first installment to reimburse eligible EMDG applicants. “An initial payment amount of $50,000 is the most equitable distribution of grant funding within the available budget,” Dr Emerson said. “It will provide grant recipients with a substantial level of immediate cash flow, which is always welcome at smaller companies.”
Recipients for the 2010–11 grant year with an entitlement up to and including $50,000 will be paid in full. Those with entitlements above this amount will receive a second tranche at the end of June 2012, with the size of the payment to be determined then. In the 2010–11 Budget, the Government committed to funding the EMDG scheme at $150.4 million a year, and also extended it for a further five years, to 2015–16.
The EMDG scheme is one of the ways in which the Australian Government provides assistance to small and medium-sized exporters. The grants reimburse exporters -up to a limit – for eligible expenses on the promotion and marketing of their international businesses. For more information on this, and the other ways you can receive support for exporting activities contact Pattens, the grant experts on 1800 PATTENS.
