THE GOVERNMENT of South Australia has announced a $1 million Export Diversification Program aimed at supporting exporting businesses overcome market challenges.
To be delivered across two years, the program is particularly aimed at businesses that have made “significant investment” in trade disrupted markets.
According to the Department of State Development, the program “recognises that the current global trading environment has resulted in increased export costs and, in many cases, reduced the competitiveness of South Australian products in some key markets”.
“South Australian exporters are now likely to be facing challenges with maintaining pricing, retaining customers, and protecting their market share,” the department stated.
Priority is to be for businesses from the manufacturing, automotive/automotive parts and machinery sectors; and businesses with products embedded in global supply chains that are now facing reduced competitiveness in an identified market.
Up to $50,000 is available to support businesses to overcome market challenges.
The Department of State Development is to hold a “competitive funding process”, starting with an expression of interest (EOIs) from South Australian export businesses meeting eligibility requirements.
The purpose of the EOI is for the department to gain an understanding of the applicants’ eligibility and assess the impact trade disruptions are having on exports.
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More information is available here.