The State Government has launched its Export Partnership Program, which will help South Australian businesses to engage with key trading partners.
Minister for Investment and Trade Martin Hamilton-Smith said the program provides 50:50 funding to eligible South Australian companies to pursue international market development opportunities.
“This initiative which replaces the Gateway Business Program, will ensure that South Australian companies remain globally competitive and have access to overseas markets,” Mr Hamilton-Smith said.
“For a small state in a global economy, we continue to overcome challenges and take advantage of opportunities in sectors like manufacturing, technology and innovation, minerals and food and wine.
“The current funding pool for the Export Partnership Program is $492,000, which will be expanded to $731,000 in 2015-16.
“Current and aspiring exporters can apply for funding of up to $50,000 over two years for eligible export projects and activities.
“Grants may be used to support coaching, training, market intelligence and mentoring in order to plan for international opportunities and build their export capability.
“Our redesigned export program will help companies get access to the right tools and support to grow and build international networks that can often be financially challenging to access.
“It will also help the State Government achieve its export objectives to create new jobs and support economic growth for South Australia, as outlined in our economic priorities.”
The new Export Partnership Program will:
- reduce the minimum turnover threshold requirement from $150,000 to $100,000 to increase the eligibility for newer or ‘born global’ businesses;
- double the amount of funds available to individual companies from $25,000 to $50,000;
- allow companies to apply for funding multiple times until they reach $50,000;
- remove previous caps for individual activities to encourage greater autonomy for companies to determine expenditure plans for their export marketing strategies; and
- allow previous recipients of the former Market Access Program (MAP) and the Export Market Development Grant (EMDG) to apply and revisit markets adversely affected by the high Australian dollar.
“Our business supplies spring water from an old aquifer in the State’s south east, which has a unique mineral make up due to its high alkaline levels,” Mr Martin said.
“Our current market includes local and home office water deliveries. We also supply a smaller range of products to Woolworths and BP’s On the Run stores across Australia.
“Over the past 12 months, we have received strong interest from Chinese investors who are keen to take our product to China.
“Thanks to the advice from TradeStart advisors and the government’s China investment team, we have supplied approximately 25,000 units of water to this robust market.
“We are now finalising our business proposal and export strategy so that we can attract a new Chinese partner that can help take our business further.”
Applications for the Export Partnership Program close on Friday, 10 April 2015.
For more information and to apply:
Contact a TradeStart adviser on 8303 2400