With natural disasters and a pandemic continuing to cause disruption to the industry, plus an outbreak of foot and mouth disease raising concerns, we’re bringing together Agribusiness leaders and sector players to help bring hope and optimism to businesses from around the world.

Following a keynote from ANZ‘s Head of Agribusiness Insights, Michael Whitehead, some of our speakers include:

• Andrew Cox, General Manager – International Markets at Meat & Livestock Australia
• Helen Dornom, Manager – Sustainability at Dairy Australia
• Euan Friday, Chief Information Officer at Kilter Rural
• Dr Mardi Longbottom, Manager – Sustainability and Viticulture, Australian Wine Research Institute
• Peter Bailey, Manager – Wine Sector Intelligence, Wine Australia
• Toby Graham, General Manager China – SW

Hosted and moderated by SW agribusiness leaders, our speakers will discuss:

• Insights into where the industry is heading
• How you can open your doors to export opportunities
• Who is driving the need for sustainability
• How to future-proof your farms for the next generation.

Keynote | Insights into agribusiness and outlook for the sector

Trade | Opening doors to export opportunities

Sustainability | Future-proofing Australian Agribusiness

The post 2022 SW Agri Connect Trade Forum appeared first on SW Accountants & Advisors.

While Australian producers have outstanding business opportunities and long-term capital growth potential, the agricultural sector is not without challenges – from water management to traceability, unpredictable weather patterns to logistics and from investment to export. Your needs across these are understood by our dedicated team of agribusiness advisors and accountants.

Leading providers of advisory, audit and tax services, the SW team works with a wide range of operators in the wine, beef, grain, wool, dairy farming and fruit growing businesses in the Australian market. Our experts support you by remaining at the forefront of key sector issues through our involvement with a range of industry organisations.

With our proximity to Asian economies of scale and extensive free trade agreements across the globe, agriculture and its associated business sector plays a significant role in the Australian economy. There is also significant international investment interest across the entire agricultural supply chain.  

Our Agribusiness services

We consistently provide value-add opportunities to connect with, and learn from, others in the industry. 

Industry Associations & Sponsorships

The post Agribusiness | Agriculture appeared first on SW Accountants & Advisors.

• Explore what the EMDG is

• Discuss how the EMDG is structured and who is eligible
• Provide practical tips via Q&A.

Your guides online

Stuart Barclay General Manager – Marketing, Wine Australia

Sam Morris Director, SW

Thomas Demel Senior Manager, SW

Contact us

If you have any queries or would like more information, please contact the Marketing team via marketing@sw-au.com.

The post Spotlight | Export Market Development Grants Webinar appeared first on SW Accountants & Advisors.

Our experts from South Korea, Japan and India:

• Explore the latest in the Australian Wine landscape with Stuart Barclay, General Manager, Marketing at Wine Australia
• Discover the tastes, competitive landscape and export potential for Australian wines across South Korea, Japan and India
• Provide practical tips via Q&A to make your export diversification ideas your reality.

Your guides online

Contact us

If you have any queries or would like more information, please contact the Marketing team via marketing@sw-au.com.

The post Spotlight | Wine Export Diversification Webinar appeared first on SW Accountants & Advisors.

The change will fundamentally alter how applications are made and managed, impacting every business that is currently accessing the scheme.

Key changes include:

• Transitioning to an up-front agreement model, with funding agreed in advance
• Introduction of funding ‘tiers’ for businesses at different stages of their export journey
• Life-time cap of $770,000 grant funds receivable per business through the EMDG program
• Reduction in the turnover cap for eligibility – Businesses must have a turnover of less than $20M to access the fund

What is the impact of this change?

Businesses that are currently accessing the EMDG scheme, or are looking to execute their export strategy in the coming years should be acting now to assess their eligibility for this revised EMDG program.

Prior to submitting an EMDG grant application for planned promotional expenditure, businesses will need to self-assess their eligibility to the updated program and determine which funding tier they should be applying to. Tiers include:

Tier 1: for eligible SMEs who are ready to begin exporting – grants of up to $40,000 per financial year for 2 years

Tier 2: for eligible exporters who plan to expand their exporting – grants of up to $80,000 per financial year for 3 years

Tier 3: for eligible exporters who plan to make a strategic shift in their export activities – grants of up to $150,000 per financial year for 3 years

Key dates

Eligible expenses incurred up to 30 June 2021 will be claimable under the existing scheme, with applications open from 1 July 2021 through to 30 November 2021.

Applications for ‘forward looking’ EMDG grants for the 2021-2022 year must be made between 16 August 2021 and 30 November 2021.

How can SW assist?

Applications for the revised EMDG scheme will initially run alongside the existing EMDG program, increasing the complexity for applicants once the program opens for applications.

The EMDG process is highly complex and rigorous, and never more so than this year! SW’s team of Government Incentives experts can assist you in determining your eligibility, produce high-quality funding applications and maximise your chance of funding success.

Get in touch

To learn more and find out how you can seize the opportunity, contact one of our experts below.

Sam Morris

E smorris@sw-au.com

Thomas Demel

E tdemel@sw-au.com

The post Grant alert – Export Market Development Grant appeared first on SW Accountants & Advisors.

It’s great to see that Australia has taken the lead with the UK in what we see as a significant leap forward in helping those in the Agribusiness sector. The in principal FTA is seen as a major boost for Aussie farmers, providing an opportunity to diversify trade and vital for the success of the industry. It will provide instant and immediate access to tariff reductions across several areas including beef, sheep, sugars, dairy, rice and wine.

Even though there will be an instant duty-free quota available to farmers, the tariffs are expected to be phased out over the next 5-10 years. This will see continual benefit to the Australian economy and more importantly Australian farmers.

The Australian government scrapping the 88-day farm work requirement for UK visitors was expected to create a 10,000 person shortfall, however this has been addressed with both a new specialised Ag-Visa with the UK as well as an expected announcement of a new agriculture visa with 10 ASEAN countries, including Vietnam, Indonesia and Malaysia – which is designed to combat the growing work shortage and open the doors to Australian farms.

What this means for you?

If you are in the Agribusiness sector, you might be able to benefit from this FTA once it is finalised. Get in touch with one of our Agribusiness experts below today to see how you can take advantage of this opportunity for your business.

Contributors

Brent Sheers

E bsheers@sw-au.com

The post FTA with UK opening doors for Australian agribusiness appeared first on SW Accountants & Advisors.

Australia is a major producer and exporter of natural resources and energy, food and agricultural commodities, education and tourism. We also export many other goods and services globally.

Regardless of what you are exporting, there are several aspects to understand and consider – from trade structuring to the currency in which your trade is denominated, to payment protections employed.

Let’s review some essential background knowledge and then provide some suggested tips.

Capital vs current account

A number of countries globally still have closed capital accounts, but open current accounts. It is important to distinguish the nature of a payment when addressing this issue.

Countries with a closed capital account and an open current account restrict capital payments and receipts (loan repayments, foreign investments, capital injections into a business etc), but allow current account payments such as international trade transactions supported by appropriate documentation. Capital payments and receipts in such countries generally require approval from a foreign exchange regulator.

Currency

Some currencies are restricted to domestic trading only, but remain hedgeable. An example, is the Chinese currency – known on the China mainland as Chinese yuan (CNY) and outside the mainland as CNH – the ‘H’ notionally stands for ‘Hong Kong’, but really means Chinese currency anywhere outside the mainland. CNH foreign exchange risk can be hedged by Chinese and global banks just the same as mainstream global currencies such as the USD, EUR, GBP, JPY and AUD.

Whilst it is generally easier for Australian businesses to structure their trade in Australian dollars (AUD) to remove any currency risk, naturally it is always easiest for a foreign importer to pay in their own currency and this can sometimes secure an exporter a better price, given the convenience for the importer of not having to manage foreign exchange risk.

Tips for successful export relationships

While many of our clients know to engage us to assist with establishment of their offshore operations, we also have clients engage us after they’ve learnt some hard lessons. As always, the key is to surround yourself with experienced advisors and do your homework on any proposed business partners.

1. Due diligence is even more important

Resist the temptation to be blinded by the size of the deal or the size of the market you are entering!

When a foreign company doing business offshore enters into a new business relationship, a common mistake is a failure to undertake the same due diligence as the company would do in their home country.

All countries have different laws, regulations and norms of doing business, so it’s important to engage local expertise and advisors who understand the market to undertake physical, online, regulatory and financial background checks on who you are dealing with prior to entering into new business arrangements.

In some countries an internet search in English won’t help you. Two key reasons:

• search engines such as Google are blocked in a number of foreign jurisdictions
• for non-English speaking countries, you need to conduct searches on local entities or individuals in the local language, rather than English, to get an optimal result.

The key here, is to do the same or more due diligence on your business partner offshore than you would at home. If you are experiencing hurdles, we can assist.

2. The right payment structures can assist

International trade is conducted based on a continuum of trust. If you don’t know who you are dealing with, put payment protection mechanisms in place with providers that you trust.

Think about how you structure your trade:

• currency used – offering your purchaser trade terms denominated in their local currency can potentially secure better pricing and enhance your chances of being paid in timely fashion. Banks can help to hedge foreign exchange risk for widely used currencies.
• payment terms – seek whole or part payment up front, or at least staggered payments that stay ahead of the value provided over the contract period to help mitigate your payment risk.
• consider the use of Letters of Credit (and consider who the counterparty bank providing the Letter of Credit is).  This adds an additional layer of payment protection from your client’s bank.
• consider additional layers of protection – Letter of Credit confirmations, export credit insurance, standby letters of credit for services trade, bank performance guarantees if clear contractual performance criteria can be established and agreed.  This adds an additional layer of payment protection from either your client’s bank, or your bank.
• Importing and exporting? If you have incomings and outgoings in the same foreign currency, consider creating a natural hedge by opening a foreign currency account, thereby obviating the need for currency conversion.

If you’re experiencing debtor payment problems, understand clearly the reason why you aren’t getting paid:

• is the counterparty not creditworthy?
• does the counterparty have cashflow problems that are ‘point in time’, meaning they can pay you later?
• is your documentation incorrect? In some countries, local laws won’t allow the counterparties you are dealing with to pay you if you have not provided the correct supporting documents
• have you invoiced in AUD or USD, and the business you are contracting with can’t buy or remit foreign currency?

Your bank can assist you to ensure your trade documentation efficacy, with opening foreign currency accounts and with other foreign exchange hedging mechanisms.

4. Do what the big exporters do

Sometimes businesses think that the nature of the product they are exporting – perishable versus non-perishable – impacts the mechanisms that can be utilised to assist secure payment. This is incorrect.

Further, structuring of the trade payment security mechanisms of physical goods export activity should be no different for a smaller business than those utilised by the world’s biggest exporters, regardless of product type.

Where it is not feasible to seek payment up front, there are three ways that the world’s biggest exporters try to ‘guarantee’ payment for their exports to countries where payment certainty is more challenging:

1. Primary payment obligation rests with the importing party
2. Letter of Credit (bank guarantee of payment) issued in their favour – you’ll want this from one of the major international or local banks
3. ‘Confirmation’ on the Letter of Credit from one of their trade panel banks, or their house bank. This effectively substitutes the credit rating of their trade panel or house bank for the credit rating of the purchaser’s bank. In essence, in this example, it’s saying that if the importer doesn’t pay and the purchaser’s bank doesn’t pay, then the exporter’s bank must pay – if the trade documentation is correct.

The post Exporter tips – how to get paid appeared first on SW Accountants & Advisors.

Grants are offered on a 1:1 funding basis, with grants of $50,000 to $1m available. Grant funds can be put toward:

• Investment in plant and equipment
• Research and development for pilot projects and new product development
• Market promotion
• Business and marketing plans
• Feasibility studies
• Website development and network costs.

Application Process

Grant funding will be allocated through a competitive two-stage process.

Applicants are encouraged to submit an expression of interest (EOI) addressing the key merit criteria and project objectives.

Applicants whose EOIs meet the criteria will be invited to submit a full application for funding

Who is eligible

Businesses, industry associations, marketing cooperatives and local government authorities that operate in the Victorian agriculture sector are invited to apply.

To apply, businesses must have a current ABN that was held on the fund opening date. Businesses must also directly employ staff.

Important dates

EOIs opened on March 31 and will close once funding is exhausted. Get in quick to avoid missing out!

How ShineWing Australia can help

The application process is competitive and complex, with limited funds on offer.

ShineWing Australia’s Government Incentives team can assist in project identification, writing comprehensive applications and liaising with program managers to maximise your chance of funding success.

Get in touch

To learn more and find out how you can seize the opportunity, contact Sam Morris or John Anderson.

The post Grant alert – Food to market program appeared first on SW Accountants & Advisors.

The COVID-19 pandemic is disrupting business around the globe to differing degrees, and the situation is changing daily.

Exporters are advised to keep abreast of the situation in various locations by using the links below, relying on trusted partners in local markets, or by contacting Austrade on 13 28 78 and following the prompts for ‘Export enquiries’ (within Australia).

Austrade recommends that you:

• Stay in contact with your customers and partners; communicate on a regular basis as far as possible. Be aware there is a likelihood that the customer’s business is being heavily impacted as well.
• Stay in touch with your peak industry body.
• Be aware that many events are being cancelled or rescheduled.
• Prepare a plan for when the pandemic effects ease so you can scale up delivery and promotion of your product or service.
• Note the latest Australian Government Travel Advice and travel restrictions in place, which are there for your safety.

Click here for the latest insights from Austrade’s global network.

Get in touch

The post Austrade’s latest COVID-19 updates for exporters appeared first on SW Accountants & Advisors.

Supported by Austrade, Efic and Export Council Australia, our experts will provide practical tips and case studies for how best to navigate export opportunities to maximise your export potential with the right partners.

Benefits of attending

• Hear from and engage with experts that specialise in supporting Australian businesses who import/export new and existing products and services
• Network and build connections with expert partners
• Be informed of the latest support opportunities available for financial assistance
• Keep updated on the latest opportunities for state government awards that are provided
• Uncover what China is looking to achieve with its first ever China International Import/Export Expo show in November

Brisbane event details

Date: Thursday, 30 August 2018
Time: 12.00pm-2.30pm (lunch and refreshments provided)
Venue: ShineWing Australia, Riparian Plaza, 71 Eagle Street, Brisbane QLD 4000
Format: Interactive seminar style
RSVP: Monday, 20 August 2018 to marketing@shinewing.com.au

Melbourne event details

Date: Monday, 27 August 2018
Time: 12.00pm-2.30pm (lunch and refreshments provided)
Venue: ShineWing Australia, Level 10, 530 Collins Street, Melbourne VIC 3000
Format: Interactive seminar style
RSVP: Monday, 20 August 2018 to marketing@shinewing.com.au

Sydney event details

Date: Friday, 24 August 2018
Time: 12.00pm-2.30pm (lunch and refreshments provided)
Venue: ShineWing Australia, Level 8, 167 Macquarie Street, Sydney NSW 2000
Format: Interactive seminar style
RSVP: Monday, 20 August 2018 to marketing@shinewing.com.au

More information

For more information, please contact the ShineWing Australia Marketing team via marketing@shinewing.com.au.

The post Open doors: explore your export potential appeared first on SW Accountants & Advisors.