The Australian Federal Government is offering $50m in grant funding for Australia’s business events industry, part of the government’s $1bn COVID-19 Relief and Recovery Fund which supports sectors severely impacted by the pandemic.
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 Benefits for Event Industry and Clients:
• The Grant will restart Australia’s vital business events sector
• It will support the wellbeing of our workforce and sustain businesses
• Funding will support approved business to business events in 2021
• provide opportunities and encourage businesses from regional Australia to attend events in their own backyard.
• 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 ($10,000 – $250,000).
• Arinex will support its clients through the application process via the Business Grant Hub through a submission and assessment process.
• Funding dollars will make it less expensive and easier for regional businesses to attend events in Australia and will present new opportunities to connect with and secure new customers.
• Incentivising attendance by exhibitors will give event companies and organisers confidence to move ahead with the planning of business events.
• Connecting businesses through trade shows and conferences will help unlock widespread collaboration and boost domestic capability by creating and expanding local supply chains.
The Business Events Council of Australia (BECA) reports COVID-19 has cost Australia’s visitor economy $35.7bn. The Australian events industry was one of the first industries to be hit by the pandemic, with 96% of business events scheduled for 2020 cancelled or postponed in March. Australia will be ready in 2021 to welcome everyone back.