Agribusiness & Food, Equipment & Technology, Mining and Heavy Industries

Government funding more export hubs

Australian small and medium businesses will have more help getting their products to export markets thanks to a $20 million program from the Federal Government.

The Small and Medium Enterprises (SMEs) Export Hubs Initiative, part of the 2018-19 Budget, will fund successful applicants to develop local and regional hubs that will help local firms begin to export.

Export hubs are business-to-business networks designed to help small businesses harness opportunities in global marketplaces. A hub would include a group of businesses and other organisations, usually based in a specific geographical region.

Hubs are intended to drive engagement between local businesses through developing collective brands and leveraging local infrastructure.

They also increase information and resource sharing between businesses, and help them get into global supply chains.

Industry, science and technology minister Karen Andrews said the program would help small and medium businesses grow, export and generate local Australian jobs.

“Beginning to export can be challenging but there are massive opportunities for Australian firms to take their products, processes and services to big markets in our region and around the world, increasing revenue and creating new jobs,” Andrews said.

“Export hubs will help Australian companies overcome these challenges and begin to export.

“We know that this sort of practical assistance can be invaluable for local businesses.”

Andrews cited one example where an export hub helped Melbourne business Crazy Dragon double its revenue in twelve months, when it began exporting its dumplings to China.

“The hubs will help businesses team up with other firms and through activities such as developing collective brands, take advantage of local infrastructure to boost business operations, and position regional businesses to participate in global supply chains,” Andrews said.

“The Coalition Government is committed to supporting businesses of all sizes to take their products and services to the world.”

The program will fund new and existing export hubs in advanced manufacturing, cyber security, food and agribusiness, medical technologies and pharmaceuticals, mining equipment, technology and services, and oil, gas and energy resources.

Under the scheme, successful applicants will be given matching funds of up to $1.5 million for up to four years.

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