The Australian Government has announced it would provide $50 million to create the Business events exhibitor grants program. This assistance is part of the $1 billion Relief and Recovery Fund which is providing assistance to sectors, regions and communities disproportionately affected by the economic impacts of COVID-19.
The program will be administered through the Australian Government’s Business Grants Hub, with guidelines developed in consultation with the government and industry stakeholders.
Business events exhibitor grants
This initiative will support Australian businesses showcasing their products to the domestic market, by providing grants to meet up to 50 per cent of costs incurred in participating at a pre-approved business to business event in Australia during 2021.
It will empower not only the business events sector, where the required cancellation of events due to COVID-19 has seen a near 100 per cent loss of revenue, but also the broader business community by stimulating high value, multi-day business to business events across multiple sectors of the economy.
The initiative will instil confidence back into the business events sector as Government backing will help ease concerns about financial loss and encourage businesses to return to business events, when it is safe to do so.
The upfront grant ($10,000 -$250,000) will meet up to 50 per cent of costs incurred in participating at a pre-approved business to business event, such as exhibition space hire, design and manufacture, plus travel and accommodation.
Support would target larger, multi-day business to business events that promote Australian Government’s industry priorities and sectors. The schedule of pre-approved events (and associated costs eligible for funding) will be developed by Austrade in consultation with other Commonwealth, State and Territory Government partners and the business events sector.
Should an event be cancelled due to COVID-19 restrictions, then the non-refundable amount (as identified in the program guidelines) will be entirely met by the Australian Government.
Timing and administration
Funding will support businesses showcasing their products at approved business to business events in 2021.
Once a schedule of approved events has been developed, applicants will be encouraged to apply via the Business Grants Hub through a submission and assessment process.
For more information
The list of eligible events, compiled in consultation with government and industry stakeholders, will be detailed in the program guidelines and will be released closer to the program start date.
Once the guidelines are released and the program opens, applicants will be encouraged to apply via the Australian Government Business website or call 13 28 46.
The Austrade Programs Team can be reached at BEexhibitorgrants@austrade.gov.au or by calling 1800 048 155.