Any first foray into exports can seem daunting. One must set about preparing an export business plan, developing a marketing strategy, organising logistics and securing finance. While government support can be a key to export success, navigating through the myriad of government programs can be a challenge on its own.
The Australian Government’s three key export agencies, AusIndustry, Austrade and Export Finance and Insurance Corporation (EFIC) , offer valuable support, whether a business is new to the export game, building on early successes or an established global player.
AusIndustry, the Australian Government’s agency for supporting business innovation, can help on the export journey.
If a company is in the early stages of growth, or a separate company has been set up to commercialise research, you could be eligible for financial assistance and business advice under AusIndustry’s Commercialising Emerging Technologies (COMET) program.
Another AusIndustry scheme, Tradex, can provide up-front exemption from customs duty and GST on eligible imported goods that are intended for export.
Austrade, the Australian Government’s trade and investment promotion agency, has programs designed to assist in developing the skills and knowledge to find and maximise export opportunities.
An Austrade Export Adviser can help determine the best way to obtain market research, link the company up with international partners, provide on-the-ground support when it is time to visit potential buyers and help develop a risk management plan.
Once an overseas market has been identified, an effective export marketing strategy is essential. Austrade can advise a business on how best to market its product or service internationally.
Austrade’s Export Market Development Grants (EMDG) scheme encourages the growth of export markets by reimbursing up to 50% of expenses incurred on eligible export promotion or marketing activities above a threshold amount.
It’s also a good idea to talk to a bank at an early stage about the finance to support export plans. If the bank can’t provide all the necessary support, contact EFIC. As the Australian Government’s export credit agency, EFIC provides finance and insurance solutions to help Australian exporters overcome the financial barriers when growing their businesses overseas.
EFIC helps successful businesses to win, finance and protect export trade or overseas investments. Working directly with exporters or with their banks, EFIC provides loans, guarantees, bonds and insurance products which can be tailored to the needs of both large and small exporters.