The Queensland Government has launched its Go Global Export Program aimed at helping small and medium-sized Queensland-based businesses enter international markets.
Run by Trade and Investment Queensland (TIQ), the program offers two levels of project funding – Micro Export Grants up to $5,000 (excluding GST) and Macro Export Grants up to $25,000 (excluding GST).
According to TIQ, ‘[t]he grant is available to support project costs that improve the ability of your business to export your goods/services or engage in international trade’.
eligible project costs include:
- Export business advisory services and tools;
- Costs of product testing and redesign, packaging and labelling required to meet an export market requirement;
- Support to gain export accreditation and Free Trade Agreement documents (expenses incurred to gain various export-related accreditation for, but not limited to, Good Manufacturing Practice, Hazard Analysis Critical Control Point or Halal accreditation;
- Cost of a trial export program – e.g., logistics involved in delivering the first export activity in a new market;
- Costs associated with product approvals, installation, training, operations, and maintenance required for a new client/market (travel is only accepted for these defined activities and not any business development purpose);
- Professional advice (legal, accounting, financial) on contract negotiation, IP advice, counterfeit protection, attracting funding to scale up to meet demand.
Undertaking to go global and enter a new international marketplace is an opportunity for rapid growth, but it also comes with additional legal risk compared to domestic expansion.