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Government announces $50m boost to business events sector

Adrian Flores
Adrian Flores
11 September 2020 1 minute readShare
business events sector

The federal government has announced a $50 million grants program for the business events sector, something it says will help businesses grow by attending events as well as boost the struggling tourism and hospitality industry.

Under the government’s Business Events Exhibitor Grants program, Australian businesses exhibiting at an approved business meeting, convention, conference and incentives event in 2021 will be able to apply for upfront grants to cover up to 50 per cent of their costs, ranging between $10,000 and $250,000.

The government hopes the program will encourage businesses 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.

Prime Minister Scott Morrison said Australia’s $36 billion business events sector had virtually ground to a halt during the COVID-19 crisis.

“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,” Mr Morrison said.

“This is not only about supporting events companies and venues, but will also be a shot in the arm for a broad range of businesses and the people they employ — whether it’s accommodation providers, those who build exhibitions, caterers, cleaners or those offering audio-visual services.”

Tourism Minister Simon Birmingham said the sector had been hit hard during the COVID-19 pandemic, with around 95 per cent of business events for 2020 either cancelled or postponed.

“Our business events sector is doing it incredibly tough at present and getting events put back into the calendar will help this key part of our tourism industry which supports around 230,000 jobs turn the corner,” Minister Birmingham said.

“By incentivising attendance by exhibitors, this should give event companies and organisers across Australia the confidence they need to move ahead with the planning of business events.”

Government announces $50m boost to business events sector
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Adrian Flores
Adrian Flores

Adrian Flores is the deputy editor of MyBusiness. Before that, he was the deputy editor for SMSF Adviser as well as features editor for ifa (Independent Financial Adviser), InvestorDaily, Risk Adviser, Fintech Business and Adviser Innovation.

You can email Adrian at [email protected].

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