On 11 September 2020 the Australian Government announced it would provide $50 million to create the Business Events Grants program. This assistance is part of the $1 billion Relief and Recovery Fund which is providing assistance to sectors, regions and communities disproportionately affected by the economic impacts of COVID-19.
This initiative will support business events 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 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 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.
- 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.
Timing and Administration
- Funding will support approved business to business events in 2021.
- Once a schedule of approved events has been developed, applicants will be encouraged to apply via the Business Grants Hub through a submission and assessment process.
Once the guidelines are released and the program opens applicants will be encouraged to apply via the Australian Federal Government business website www.business.gov.au or call 13 28 46.