Do You want to maximise your export grants?

FEDERAL GRANTS ON HOLD

It has recently come to light that the Federal Government has placed a 'temporary pause' on new grants. It has been confirmed that the Commercialisation Australia program and the Clean Technology Investment Fund, among others, have been affected by the pause.

Swan... we are putting a pause on $2b worth of government grants.
We need a surplus!

While the programs are still open for application, no new grants are being written for the duration of the pause which has been described as a 'normal part of the budget process'. At this stage all background work such as preparation of guidelines and the assessment of applications is continuing as normal, but uncertainity remains regarding how long the pause will last and what will happen to the grants programs following the conclusion of the pause.

EXPORT MARKET DEVELOPMENT GRANT

EMDG is the financial initiative of Australian Government aiming to help and aid current and aspiring exporters.

Do you want to maximise your export grants?

Global and domestic economies are facing turbulent times. Europe’s sovereign debt crisis, the struggling US economy, Australian’s two speed economy and wavering business sentiment are just some of the challenges facing business today.

Australian businesses have historically demonstrated their resilience and resourcefulness during tough times. Initiatives such as EMDG are important tools in bolstering the current account and foster strong, sustainable growth.

The Export Market Development Grant:

• Provides a 50% rebate on eligible overseas marketing costs above $10,000 (minimum spend $20,000).

• Acts to encourage Australian exporters to seek out and develop overseas markets. These markets include goods and specified services and industrial property rights which are substantially of Australian origin.

• Has a maximum grant payable of $150,000 per annum for a maximum of 7 years.

We at BSI believe that there is no better time than now for exporters to plan their activities and to establish or increase their overseas market share.

If you wish to know more please contact us and we will be happy to arrange a meeting for an obligation free initial eligibility assessment.

BSI INNOVATION
Suite 1, Level 3
55 Holt Street
Surry Hills NSW 2010
P: 02 9212 5505

FOUR TOP TIPS FOR DOING BUSINESS IN CHINA

You will start doing business with a Chinese Company, when there is a trusted relationship such that they would be prepared to invite you to their daughter's wedding. This takes time, commitment, trust and an ability to communicate and connect!

First business meetings are crucial .  If you muck them up, you won’t get any further.

This is a lesson my friend Rohini Kapur understands, who is on the mission with Vanessa Xing's colleague  David Thomas and 600 other delegates, on Australia’s largest-ever trade mission to China this week.(good on you Vic Government - leading Innovation in Australia!!) They’re about to meet a whole lot of people in a very short period of time. and need to make a good impression!!

What should one look to get out of a first meeting? 

Start to develop a relationship... You actually have to spend time developing trust . Show that you are genuinely interested in their country, their business and their family - do not simply see your business as a transaction?

Do not expect to do a deal after your first meeting!!!

here are four tips to get started

1. PREPARE YOUR PITCH PROPERLY

Your counterpart is likely to give you a beautifully presented bilingual document detailing their company, city or industry. Do the same!! . The worst you can do is offer shoddy documentation with no Chinese translation, says Sydney-based consultant David Thomas.

2. GIVE OUT YOUR BUSINESS CARDS PROPERLY. RECEIVE THEM EQUALLY SERIOUSLY

• The exchange of cards is taken very seriously in Asia. 
• Double sided cards work well (one language each side). 
• Make sure you have the right Chinese character set for your destination. Hand over cards with two hands.
• Receive them the same way.  
• Hold onto the card while you speak, or put it down on the table in front of you. 

Don’t stick it in a pocket.

3. TALK LITTLE AND LISTEN A LOT

Western business people often start pitching themselves or their products without knowing sufficiently what the other side wants.

“In China, this can come across as arrogant, discourteous and even rude and, whilst it may not be apparent at the time, its likely to cut things off before they’ve even got started!” Thomas says.

4. USE A PROFESSIONAL TRANSLATOR WHO UNDERSTANDS THE CONTEXT OF YOUR ROLE AND YOUR BUSINESS

When addressing audiences or customers, it is critical that you get the correct message across. The quality of your message depends on the interpreters you have entrusted to translate it. 

A brilliant person to have on your team is my friend Vanessa Xing. She is superb, and comes highly recommended!!

None of these tips guarantee you the end goal of a wedding invitation – or business. But they’re important first steps. A long-term relationship ultimately requires people to invest part of themselves in it – something that not everyone can do.

Sustaining any relationship in business takes time and commitment. But if you don’t hold your business cards the right way, you’re unlikely to even make it a possibility!!

The difference between a Consultant , Coach and Mentor

I recently read a newsletter from Viki Forrest , Anzatech Technology Network, where she explains the difference between a Consultant, Coach and Mentor

Consultants push

Consultants bring specialty expertise that a company needs but doesn't have (enough of) within their own team. They are typically used to execute a well-defined project and deliver the results to the company. When a consultant leaves, the value they have delivered stays with the company but the expertise leaves.

Coaches pull

Coaches bring out the best in us at an individual level. They are typically used when we want to improve our ability in a specific skill or capability such as public speaking, leadership or fitness. When a coach leaves, the individual's level of expertise is changed - hopefully for the better.

Mentoring is a two-way street.

Mentors are role models, individuals who have done what we aspire to do. They've made the mistakes we are about to make, they have lived through the failures we are about to experience and they have succeeded in areas that we value and are striving to succeed in. We seek out mentors when we are looking for major breakthroughs, quantum changes in business and in life. The value exchange between a mentor and mentee is two-way, both are enriched by the experience - a mentor doesn't leave. Typically, a mentor and mentee maintain their professional connection long after the official working relationship ends. 

Small Business Under attack – Government looking to remove Export Grants and Support Innovation

Grants such as  Commercialisation Australia and the Export Market Development Grant, which are already suffering funding issues, are under threat of being axed.

Wayne Swan announced a freeze on federal grants on Monday as it races to arrest a drop in revenue, due to a 37% drop iin Iron Ore prices. 

Is the Government going to kill a programme that generates $12 of revenue for every $1 of Government support to increase revenue?  Government should encourage more exports and increase support for Innovative Exporters.. Specifically Small Business!!

Killing these Grants will have a significant detrimental effect on innovative Small Businesses who have an export focus and use the EMDG to play on a Level Palying Field. More funding is needed at a time like this.

Pulling support of SME’s Government Innovation and Export Programmes , with a rising Dollar and a Flat World Economy is not the solution to build a robust economy!

India Part 3 - Doing Business in India

Our partner Raviv Byron, talks to us about how to do business in India

The global growth through a burgeoning Asian middle class can bring in a new era of growth, wealth and prosperity

Salient Points

• Shifting Wealth’ from West to East over next 25 Years
• Middle Class spurs growth and Innovation a nd there is a huge swell of Middle Class in China, Asia and India (growth from 1.8b spending $21trillion to 4.6b spending 56trillion
• Annual output to grow from 63 trillion per annum to 200 trillion per annum in 25 years
• The growth does not depend on a rebound in US or European consumer demand, but depends on the inevitable demand from a new large, growing  Asian middle class, that is  of  sufficient  size  to provide the impetus for demand growth that the world needs.

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