Home-grown Businesses

Austrade administers the government's Export Development Grants (EMDG) scheme for new and existing international businesses. What are Export Development Grants?

• Domestic businesses are also eligible for these grants if they plan to expand internationally in the next 10 years.

• Financial assistance is in the form of a reimbursement of up to 50% of expenses incurred on eligible export promotion activities.

• Businesses that have an income of less than $50 million per year and incur at least $15,000 of eligible exports expenses.

• For smaller businesses that are seeking to expand internationally these grants make it easier for them to do so.

How does Austrade also assist businesses other than the Export Market Development Grants?

• Providing information about international markets and trends.

• Arranging meetings with potential clients and partners.

• Providing additional grants for struggling businesses with the promise of reimbursement.

• Providing ongoing support and information.

____ provides information and advice to assist Australian companies reduce time, cost and risk associated with exporting. ____ also researches overseas markets to look for emerging markets and demand for Australian goods and services.

(a)  

What sort of information does Austrade provide to foreign businesses to encourage them to invest and operate in Australia?

• Marketing strategies and advertising opportunities to overshadow domestic businesses.

• Research on industry capabilities and opportunities.

• Advice on market developments, trends and forecasts.

• Information on possible partners and competitors in the Australian market.

States have agencies that provide information, advice and financial assistance to international businesses. In WA, the Department of State Development offers the following services:

• Information on business requirements, economic trends, trade and market analysis.

• Identifying business opportunities and facilitating company networking.

• Advice on market entry strategies.

• Introductions to relevant government agencies and stakeholders.

• Recommendations and contracts for regulations, industry partners, associates and supply chain networks.

There is a ____ ____ for research and development (R&D). The Australian Government provides incentives for companies engaging in research and development. The R&D ____ ____ provides companies with a tax offset for expenditure on R&D activities which may include activities conducted overseas.

(a)  

What is the Export Finance and Insurance Corporation (EFIC) export finance guarantee?

• It provides businesses with financial support with no strings attached.

• An export finance guarantee is a facility between the EFIC, a bank or other financial institution and a foreign business partner.

• The EFIC provides a guarantee to the bank for the buyer's payment obligations.

• This secures finance and minimises the risk of payments not being made between businesses in different countries. The increased certainty encourages Australian businesses to venture overseas.

Investors, consumers, governments and the community all expect businesses to act ethically (____ ____ ____). It is not good enough for a business to make profit. Businesses are expected to be good global citizens and use their economic and social influence to raise living standards domestically and globally.

(a)  

(Global business ethics) What are the correct steps and order for global business ethics?

• 1. Outsourcing

  2. Sustainability

  3. Environmental responsibility

• 1. 1. Environmental responsibility

  2. 2. Outsourcing

  3. 3. Offshore labour

• 1. Sustainability

  2. Offshore labour

  3. Outsourcing

• 1. Offshore labour

  2. Environmental responsibility

  3. Sustainability

(Global business ethics) Sustainable aims to meet the needs of corporate stakeholders today while seeking to protect and preserve resources and the environment for the future.

(a)