South Australian businesses are off to a flying start in 2016 after receiving more than $415,000 in funding to help them engage with international markets.
Minister for Investment and Trade Martin Hamilton-Smith said 22 companies secured funding in the latest round of the Export Partnership Program, including aviation, food and beverage companies and manufacturers.
“The Export Partnership Program provides support for small to medium sized businesses seeking to expand their export markets and create jobs,” Mr Hamilton-Smith said.
“A diverse range of innovative South Australian companies applied for funding in this round, with many planning to join state government-led business missions this year.
“The funding awarded to the successful companies will be used to strengthen their export capabilities through training, participation in international trade missions or product marketing.”
Chief Executive Officer of Steriline Racing John Fargher, whose Mount Barker company designs, manufactures, installs and services starting gates for the global horse racing industry, said the funding will enable him to gather business intelligence from across the globe.
“This information helps us make strategic decisions about the development of future products, end-user needs and growth opportunities,” Mr Fargher said.
“The Export Partnership funding meant Steriline Racing was the sole Australian service provider exhibited at the Asian Racing Conference in Mumbai in January.
“This was a gathering of major industry leaders from across the globe, and it gave Steriline Racing a front-row seat into changing trends and industry needs.
“We currently support a number of extremely talented full time apprentices and we’re forecasting further recruitment of specialist staff to drive our expansion.”
Mr Hamilton-Smith said Steriline Racing is an example of a company that has diversified its product line to meet the demand of new markets.
“By rethinking their business model, they have catered to a broad range of clients’ needs and now act as a go-to supplier for racing track infrastructure,” Mr Hamilton-Smith said.
“The company also holds 100 per cent of the British market and this funding will enable Steriline Racing to consider opportunities across Europe.”
The next round of the Export Partnership Program funding closes on 26 February 2016.
For further information including a full list of round three recipients visit: www.statedevelopment.sa.gov.au/investment/export-partnership-program