TAS Accelerating Trade Grant Program

TAS Accelerating Trade Grant Program

  • Applications open: The program will remain open until the annual funding limit is reached.
  • Grants: up to $10,000

The Accelerating Trade Grant Program supports Tasmanian businesses in expanding their global presence, fostering collaboration, and introducing Tasmanian products and services to international markets. The program offers grant assistance of up to $10,000 to cover up to 50% of the expenses related to specific off-island activities aimed at promoting market growth and diversification for Tasmanian businesses.

Key Requirements

This is a competitive application process, and all applications will be assessed based on the following criteria:

  • Demonstrate the project’s value for money, emphasising the potential to increase the sales value of Tasmanian products/services or enhance brand awareness in targeted markets realistically.
  • Specify the sector and market associated with the business. With the exception of tourism businesses, which are ineligible under this program, priority will be given to products/services from key sectors and priority markets identified in the Tasmanian Trade Strategy 2019-2025.
  • Provide research evidence to support the proposed activities’ value.
  • Highlight the applicant’s previous trade, market, and business development experiences, as well as business plans or marketing strategies.
  • Describe the nature, suitability, and quality of the proposed trade activity and how it aligns with the program’s objectives.

What is eligible for funding?

The program offers a reimbursement of up to 50% of approved project expenses, with a maximum cap of $10,000 per applicant per financial year. Projects should have a focus on markets beyond Tasmania. Eligible expenditures encompass various items, including but not limited to:

  • Promotional Activities, Materials, and Supporting Services:
    • Television, print, and/or magazine media campaigns.
    • Website design or redesign that specifically targets a new market or audience (e.g., language translation, culturally appropriate images).
    • Online promotions, including social media campaigns.
    • Production of printed brochures or pamphlets.
    • Creation of digital promotional materials like videos or multimedia presentations.
    • Cost of samples given away for promotional or marketing purposes. These samples should be priced at the wholesale cost, with a maximum grant funding limit of $1,000.
    • Freight expenses for samples, capped at a maximum grant funding of $350.
    • Attendance at trade exhibitions and promotions, covering exhibition stand or promotional space fees, rental of exhibition equipment and infrastructure, and transportation of promotional items to and from exhibitions or promotions (individual expenses such as trade show entry or workshop registration are limited to one person per application).
  • Market Research and Business Matching Services:
    • Commissioning specific market research (generic, industry-wide research may not qualify).
    • Engaging business matching services, such as third-party assistance in identifying and engaging with contacts in eligible markets for importing, purchasing, distributing, or supporting your product or service locally.
    • Conducting study/market research tours, including in-market research of competitors, customers, and potential customers, along with gaining insights into market and business culture and practices.
  • Inbound Buyer Visits to Tasmania: Costs associated with interstate or international buyers visiting Tasmania, including airfare, accommodation, and meals. Grant funding for this expense item is capped at $3,000 per visit.
  • Travel to an Off-Island Market: Economy airfare expenses for one person specified in the application.
  • On-Ground Expenditure – Per Day Allowance:
    • A daily allowance of $350 for one person, per night spent outside Tasmania, covering accommodation, meals, beverages, and transport. This allowance is disbursed without requiring proof of expenditure, except for travel/flight itinerary or tickets, and is encompassed within the $10,000 maximum grant amount.
    • No additional costs are applicable for on-ground expenditure beyond the allowance.
    • The maximum number of nights for which on-ground expenses can be claimed is seven, amounting to $2,450.

What companies are eligible to apply for the grant?

To meet the eligibility criteria for the grant, applicants must adhere to the following requirements:

  • Operate as a Tasmanian business, demonstrating that their products or services are produced, transformed, or value-added within Tasmania, with an intention to dispatch them from Tasmania.
  • Possess an Australian Business Number (ABN) and be registered for the Goods and Services Tax (GST).
  • Show an annual sales turnover exceeding $150,000 in at least one of the last two full financial years or in the current financial year-to-date. However, exceptions may be granted through an expression of interest process for participation in Tasmanian Government-facilitated events like trade missions or trade shows.
  • Maintain an annual sales ceiling that has never exceeded $10 million. Once again, exceptions can be considered through an expression of interest process for participation in Tasmanian Government-facilitated events or if a compelling business case demonstrates highly probable and significant trade outcomes.
  • Exhibit the necessary capabilities, resources, and capacity required to undertake the trade development activity.

Tasmanian businesses can receive a maximum of $10,000 in grant funding within a single financial year. Any applications exceeding this limit will not be assessed. While multiple applications are acceptable, the maximum approved grant amount remains capped for each applicant in each financial year.

It is advisable for businesses to submit their applications at least three weeks before commencing their projects.

Is this grant competitive or entitlement based?

Competitive. Your application will be assessed among other applications by a judging panel.

How can I increase my chances of winning this grant?

By engaging an accredited government grants consultant, such as Avant Group.

Competitive grants often require significant business case development and project analysis to support the application, this may include detailed presentations supporting the project’s merit, projected sales, cost-benefit analysis, and more.

As part of your engagement with Avant Group, your account manager will assess the required documents and will provide the following as needed to support your grant submission.

Grant application writeup including a detailed presentation illustrating how the grant funding will contribute to your project, how the funding will contribute to the project’s budget, a project milestone plan, delivery timeline, impact on employment if applicable, and a breakdown of the management and leadership team for the project

  • Industry analysis presentation
  • Competitor Analysis Presentation
  • Marketing and Sales Analysis Presentation
  • 3-5 year Cashflow Forecast
  • 3-5 year Balance Sheet Forecast
  • Cost-Benefit Analysis of Grant Funding
  • End-to-end grant application including information collating, analysis, and application writing
  • CAPEX (Capital Expenditure) cost-benefit analysis
  • Stakeholder Relations and Risk Mitigation Plans
  • Any other relevant forecasting that will support your application

How can I get help with my application? Or know if I’m likely to win funding?

Avant Group offers a no-obligation assessment of your eligibility for funding and will assess your likelihood of a successful grant application.