Premier and Minister for Trade Annastacia Palaszczuk has today launched a new $1 million export grants program to help Queensland exporters take on the world.
The new ‘Go Global’ program delivered by Trade and Investment Queensland (TIQ) will help Queensland businesses launch their products in global markets.
The Premier said Queensland was facing some challenging times due to the coronavirus including our exports and trade.
“My government is always looking at ways to help the state’s regional small to medium-sized businesses to go global, which is what this program will do, but this support is even more important at a time like this,” the Premier said.
“Exports are vital to Queensland’s economy, vital to regional businesses and vital to regional jobs.
“Queensland has around 7,300 goods-exporting companies, of which 40 per cent are based in regional Queensland and one in five Queenslanders rely on exports for their livelihood.
“We’ve already helped businesses like Bundaberg Brewed Drinks, Natural Evolution Foods at Walkamin, Scorpion Jacks in Townsville, Helimods at Caloundra and Summerland Camel Farm at Harrisville tap into overseas markets.
“Now we want to help even more and there is no better time than to back our exporters to tap into other markets.”
The Premier said Go Global offers a type of funding support never offered before to help Queensland’s growing exporters enter new markets.
“I encourage eligible export-ready small to medium sized companies to apply,” she said.
Under the program, successful applicants will receive micro-grants up to $5,000 and macro-grants up to $25,000.
The funds are to help companies overcome barriers to exporting when working with a new buyer or in a new market, including:
- market-entry requirements such as registration, documentation and compliance
- costs associated with product testing and redesign, product approvals, trial export programs (logistics), meeting export market requirements, and seeking professional advice on contract negotiation, IP advice, and counterfeit protection
- gaining export accreditation such as Good Manufacturing Practice, Hazard Analysis Critical Control Point or Halal accreditation.
Summer Land Camels from Harrisville has participated in previous TIQ initiatives focused on increasing Queensland companies’ exposure to export markets, including overseas trade missions.
CEO Jeff Flood said the company already exports to China, Hong Kong, the US and New Zealand and is targeting new markets in Europe, Asia and the Middle East.
“We’re getting online orders from all over the world, so we know there is strong demand,” he said.
“A program like this would give us exactly the sort of practical assistance we need to get a start in some of those new markets, because finding distribution partners and getting our products onto store shelves is always a challenge and funding new activities before we have new cashflow is tricky.
“We have some pretty big ambitions and support like this will be vital to us realising them.”
The Premier said Queensland’s regions played a major role in the state’s trade and investment success.
“Historically, Queensland’s economic success is largely due to its regional strengths in food and agribusiness, tourism, and mineral and energy resources,” she said.
“The regions also offer exciting emerging opportunities in tropical science, advanced manufacturing, biomedical and life sciences and renewable energy, which are elevating Queensland’s competitive advantages.
“Queensland’s merchandise exports reached $85.3 billion in the 12 months to November 2019 – a rise of $4.4 billion on the same period last year. This second only to Western Australia and higher than the value of exports from New South Wales, Victoria and Tasmania combined.”
Applications for the first round of Go Global grants are now open and close on 28 February 2020 with further rounds to follow.
More details on Go Global grants can be found on the Trade and Investment Queensland website at www.tiq.qld.gov.au/goglobal
Video Credit: TIQ Facebook