The recent announcement of the Federal Budget brought some relief to the exporting community.
Under the 2014-2015 budget, the Government will provide $200 million of additional capital to the Export Finance and Insurance Corporation (EFIC). This equity injection reverses the decision of the previous Government to take a oneoff special dividend from EFIC in 2012-2013 and will allow EFIC to better support Australian exporters and trade.
The Government is also honouring its initial commitment to provide a $50 million boost to help small and medium sized businesses reach their export potential through the Export Market Development Grant (EMDG). Administered by Austrade, the EMDG scheme helps small businesses by reimbursing up to 50% of eligible export promotion expenses above $5,000 provided that the total expenses are at least $15,000. The scheme is very important as it provides businesses with the assurance that they need to start exporting.
A large number of ACT exporters have benefited significantly from the EMDG scheme and many of these regard EMDG as instrumental to their export growth. Some of these companies include:
Founded in 2003, Aspen Medical is an Australian-owned, multi award-winning, global provider of guaranteed and innovative healthcare solutions across a diverse range of sectors. Aspen Medical started as a small business and is currently operating across Australasia, USA, Canada, Europe and the Middle East and employs more than 2,200 professionals. Aspen Medical has also used Austrade’s assistance in identifying new customers overseas as well as receiving funding from EFIC for overseas projects.
Inland Trading is an award-winning export company specializing in the supply of premium quality wines from Australia to an ever expanding world market. In 1996, the company exported its first wines (six cases) to Singapore from a bedroom. Inland Trading has benefited greatly from the EMDG scheme to get to the position they are now in, exporting more than 360,000 cases to more than 40 countries. In fact, the company was recently awarded a contract to supply the wines for Singapore Airlines’ First Class and Suites.
mHITs Limited (pronounced Em-HITs) is a multi-award winning Australian based developer and operator of mobile payment technology and services. Established 10 years ago, the company is currently providing mobile money systems in Papua New Guinea and has recently launched its BuyPower mobile prepaid electricity vending service in Namibia, Africa. This is the first service of its type in Africa where airtime is used directly to purchase prepaid electricity. mHITs has benefited from the EMDG scheme which made a difference to mHITs’ decision to enter a new market.
2014 Chief Minister’s Export Awards
The annual ACT Chief Minister’s Export Awards acknowledge the innovation, hard work and success of ACT businesses, large and small, in reaching new markets through exporting their products and services.
Applications are now open for the 2014 ACT Chief Minister’s Export Awards. To apply, please visit www.exportaward.com.au
Should you require further information about the ACT Exporters’ Network, please contact Larry Fisher at[email protected]. au or call (02) 6247 4199..