What is the Accelerating Trade Grant Program?
The Accelerating Trade Grant Program is a grant opportunity to support Tasmanian-based enterprises to collaborate, expand their presence and introduce Tasmanian products and services to the world.
Background
The Accelerating Trade Grant Program has been established as part of the Tasmanian Government’s Tasmanian Trade Strategy 2019-2025. Funding of $150 000 has been allocated each financial year for three years (from 2020-21 to 2023-24).
Initiative 4.1 under the Tasmanian Trade Strategy 2019-2025, the Accelerating Trade Grant Program helps Tasmanian businesses to collaborate, expand their presence and introduce Tasmanian products and services to the world.
Funding
The Accelerating Trade Grant Program provides a grant payment of up to 50 per cent of approved expenses for Tasmanian businesses that demonstrate that the Activity which is the subject of their application will lead to a new trade opportunity. This may involve exploring a new market with an existing product or service; or promoting a new product or service in an existing market.
The maximum amount that will be provided under any application is $10 000; and no more than $10 000 will provided to a single applicant in any one financial year.
Eligible Projects
Eligible activities may include:
- market research and business-matching services
- promotional activities and materials
- attendance at domestic and international trade shows and events
- in-bound buyer visits to Tasmania
- study tours
- travel to undertake marketing activities
- supply chain improvements and cluster development
Eligible Applicants
To be eligible for financial assistance from the program the applicant:
- must be able to demonstrate that their products are produced, transformed or value-added in Tasmania, and intended to be despatched from Tasmania
- must have an Australian Business Number and be registered for GST
- must have annual sales turnover greater than $150 000 and less than $20 million in at least one of the two last financial years to be eligible as a Tier one applicant (Businesses that have not achieved the minimum turnover previously, but have sales of at least $150 000 in the current financial year may also apply as a Tier one applicant)
- must have an annual sales turnover greater than $300 000 and less than $20 million in at least one of the two last financial years to be eligible as a Tier two applicant (Businesses that have not achieved the minimum turnover previously, but have sales of at least $300 000 in the current financial year may also apply as a Tier two applicant)
- demonstrate the necessary capabilities, resources and capacity to undertake the trade development activity
- must not have received, or plan to make a claim for, funding under the Australian Government’s Export Market Development Scheme, or any other government or industry organisation assistance scheme, for the project for which the applicant is seeking funding
- must not be a consultant or intermediary
- must not be subject to any legal disability, including bankruptcy or liquidation.
Timing
Applications open on an ongoing basis.
