Thousands of jobs across the tourism and hospitality industry will be backed through a $50 million injection announced by the Federal Government, helping to restart Australia's vital business events sector.
Businesses will be encouraged to attend events, trade shows and conferences within Australia through grants to help cover the costs associated with exhibiting such as the hire of exhibition spaces, the design and manufacture of displays, travel and accommodation. For more information on the program, click here
This initiative will support Australian businesses showcasing their products to the domestic market, by providing grants to meet up to 50 per cent of costs incurred in participating at a pre-approved business to business event in Australia during 2021.
It will empower not only the business events sector, where the required cancellation of events due to COVID-19 has seen a near 100 per cent loss of revenue, but also the broader business community by stimulating high value, multi-day business to business events across multiple sectors of the economy.
The initiative will instil confidence back into the business events sector as Government backing will help ease concerns about financial loss and encourage businesses to return to business events, when it is safe to do so.
Eligible applicants
The upfront grant ($10,000 -$250,000) will meet up to 50 per cent of costs incurred in participating at a pre-approved business to business event, such as exhibition space hire, design and manufacture, plus travel and accommodation.
Support would target larger, multi-day business to business events that promote Australian Government’s industry priorities and sectors. The schedule of pre-approved events (and associated costs eligible for funding) will be developed by Austrade in consultation with other Commonwealth, State and Territory Government partners and the business events sector.
Should an event be cancelled due to COVID-19 restrictions, then the non-refundable amount (as identified in the program guidelines) will be entirely met by the Australian Government.
"Getting business events up and running again will be a critical part of the recovery of our tourism industry, but will also have huge flow-on effects through the entire economy,” Prime Minister Morrison said.