The Victorian Government is calling on eligible small and medium enterprises to apply for up to $50,000 through the fourth round of the popular Boost Your Business (BYB) Voucher Program.
The Victorian Government launched BYB in December 2017 to support Victorian businesses to become more productive, employ more people, improve market access and in general, increase their size, diversity and profitability. The three main objectives of BYB are to:
- increase the number of Victorian businesses entering new export markets and securing supply chain opportunities
- increase the number of Victorian businesses developing and commercialising new products and services through research and development and generating improved productivity through process innovation
- improve the capability of Victorian businesses to accelerate growth and realise new opportunities.
The first three rounds of vouchers provided almost $9 million for Victorian businesses, including $1.8 million allocated to support more than 70 businesses earlier this year.
BYB opens the gateway to Asian markets
In August 2017 the Victorian Government released its Globally Connected: Victoria’s Trade Statement, which forms a key part of the Victorian Government’s approach to building the Asia capabilities of Victorian businesses and their capacity to secure market development and export opportunities in Asia.
The Asia Gateway Voucher Stream is seeking Voucher projects that align with the Stream objectives:
- Capitalising on growth opportunities in Asia – Voucher projects will increase immediate to short term business activities with Asian markets.
- Connecting and expanding into Asia – Voucher projects will provide businesses with the knowhow, networks and skills for effective access to and expansion into Asian markets.
- Increased Asia capabilities – Voucher projects will better position businesses for long-term engagement with Asian markets.
The Asia Gateway vouchers help businesses from industries as varied as food and wine, ICT, sport, education, aged care, skin care, tourism, mining and architecture to take the very best of Victoria’s goods and services to Asia. The vouchers support them to partner with regional and industry experts to access the tools they need to succeed in lucrative Asian markets.
Support can include tailoring marketing and products to new markets, undertaking research and development, strengthening networks, building relationships, and gaining certifications.