The federal government has introduced legislation which it claims will help boost exports for Australian small and medium-sized businesses.
The bill introduced to parliament yesterday, the EMDG Amendment Bill 2014, relates to prime minister Tony Abbott’s August election campaign announcement of the Coalition’s manufacturing policies.
The amendments will increase from seven to eight the number of grants an applicant can receive, reduce from $20,000 to $15,000 the minimum expenses threshold for an applicant to the EMDG scheme and “reduce the current $5,000 deduction from the applicant’s provisional grant amount to $2,500”.
“Now is the right time to support smaller exporters looking to capitalise on the weaker Australian dollar, including those businesses in rural and regional Australia,” he said.
Small business minister Bruce Billson added that the changes would help SMEs access new markets.
“The scheme helps small businesses by refunding up to 50 per cent of export market expenditure,” he said.
“Export markets offer enormous potential for small to medium size businesses and offer new pathways to sustainable growth and job creation.
To read the bill, click here.