$50m government injection for business events
The Australian Government announced on 11 September that $50 million would be allocated to 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 has been welcome news for the Business Events sector, as the program aims to better position the industry to rebound as market conditions begin improving towards 2021.
“Australia’s business events industry is deeply appreciative of the federal government’s support through this grants program. We can now look to rebuilding business confidence and kick-starting momentum across the entire business events supply chain. BECA’s goal is to not only support the business events industry itself, but to also maximise the contribution business events make to the recovery of the wider economy. This support package will be pivotal to that," said Business Events Council of Australia's Chair, Dr Vanessa Findlay.
The program will be administered through the Australian Government’s Business Grants Hub, with guidelines developed in consultation with the government and industry stakeholders.
More information can be found here.