Under the Australian Business Events Grants Program, approved business events, including meetings conventions, incentives and exhibitions, will be able to apply for upfront grants to cover up to 50 per cent of their costs (between $10,000 and $250,000).
Western Australia’s peak body for the state’s business events sector, Business Events Perth, has welcomed the Federal Government’s announcement of a $50 million support fund for the industry.
Business Events Perth chief executive Gareth Martin said the industry had been crippled by coronavirus impacts and this funding to reignite the sector and help restart the holding of business events across the country, was welcome news.
“The business events sector has been one of the hardest hit by the coronavirus pandemic and the Prime Minister’s announcement of grants between $10,000 and $250,000 to stimulate the sector is a significant step on the road to recovery,” Mr Martin said.
“Business events are a key economic driver to our economy, supporting thousands of jobs across a range of local businesses.The re-start of business events will not only be critical to the recovery of the visitor economy, it will also be important to Australia’s broader economic recovery. Business events are a front door for investment and trade and are a forum to collaborate and exchange knowledge and showcase Australia’s research and professional expertise and capacity.
“The Business Events Council of Australia, working with the Australian Association of Convention Bureaux, should be congratulated on securing this unprecedented funding commitment from the Federal Government.”
Under the Australian Business Events Grants Program, approved business events, including meetings conventions, incentives and exhibitions, will be able to apply for upfront grants to cover up to 50 per cent of their costs (between $10,000 and $250,000).
A list of eligible events will be detailed in guidelines and will be released closer to the program start date.
Funding will support exhibiting at events in 2021 and will remain open until all funds are allocated or until 30 June 2021, whichever is sooner.
The Business Events Council of Australia will work with Government on the design and implementation of the Australian Business Events Grants Program.
More information on the grants program can be found at the Australian Trade and Investment Commission.
Mr Martin said the Federal funding complemented the Western Australian Government’s funding initiative for the industry announced in August, which made up to $30,000 per event available to support organisations to host local business events in Western Australia.
“We are doing everything we can to kick start the local business events industry, big and small, and we encourage any organisation that is thinking of holding a business event, conference or meeting to please get in touch with Business Events Perth,” Mr Martin said.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
