Applications are now open for the Malinauskas Government's Global Expansion Program, with $2 million available over the next four years to boost industry by assisting South Australian businesses to grow exports and become the state's next global leaders.
In the year to August 2024, $17.6 billion of South Australian goods were sold overseas, with a record $4.27 billion exported to China alone, up 46 per cent.
Local companies with established local growth that are looking to diversify or boost their presence in international markets will be supported by the program with funding up to $50,000.
Included in the program is a comprehensive package of grant funding, business support and personalised export advisory services.
It is designed to empower businesses with the tools, resources, and guidance needed to navigate the complexities of global trade and sell their goods and services overseas.
This program builds on the success of a previous Global Expansion Program, which is expected to generate approximately $27 million in export sales within the next three years as previous participants execute their export plans.
South Australian tech company Link4, a previous program participant, has leveraged the program to expand its presence in Southeast Asia and beyond.
Since participating in the program, the business support company has grown its export revenue by 350 per cent each year, seeing its workforce more than doubled.
The program is supported by the State Government's export advisors and its 17 global trade offices, which offer expert advice and in-market support.
Applications for this round of the Global Expansion Program close on Wednesday, 20 November 2024.
Further information on the program is available here.
As put by Joe Szakacs
Our Government is committed to delivering more opportunities to local businesses.
We know that exporting businesses are more resilient, which is why we want to help our innovators to get involved on the world stage.
More exports mean more jobs for South Australians, and a strengthened South Australian economy.
This important program will not only provide much needed grant funding, but also help connect businesses with invaluable in-market knowledge and expert trade advice.
As put by Robin Sands, CEO, Link4
Now that we can go into other markets, that has meant that we can grow.
In the last 12 months we have doubled our revenue, we have doubled our staff, and we have doubled the amount of countries that we are in.
If you are at that stage where you're export-ready or getting close to it, now is the time to be a part of the program because it will help you determine your plans about where to go, what to do and when to do it.
