$50m injection for business events

The Federal Government will inject $50 million into kick-starting Australia's embattled business events sector, after conferences, expos and events have effectively been shelved through 2020 due to the COVID-19 pandemic.

The pledge will surely come as welcome news for major trade events like the Brisbane Truck Show, which is set to be held at the Brisbane Convention and Exhibition Centre next year (May 13 to 16).

Volvo Group Australia, which represents the Volvo, Mack and UD Trucks brands, dropped a bombshell earlier this month when it announced it was pulling out of the Brisbane Truck Show, citing concerns over social distancing and travel restrictions.

The Federal Government's Business Events Exhibitor Grants program will allow businesses exhibiting at an approved meeting, convention, conference or incentives event in 2021 to apply for funding for up to 50 per cent of their costs, of between $10,000 and $250,000.

Prime Minister Scott Morrison said the business events sector had effectively come to a complete stop during the coronavirus pandemic.

"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," he 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."

Related reading:
Volvo Group out of Brisbane Truck Show
ATA to host online event
Trucking Australia 2020 cancelled

The $50 million boost will be used to encourage businesses to attend events, trade shows and conferences through grants that can be used to cover expenses including exhibition space hire, display stand construction, and travel and accommodation, among others.

The Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development, Michael McCormack, said the scheme would provide additional opportunities for regional businesses.

"With many international trade shows out of reach for the time being, making it less expensive and easier for regional businesses to attend events in Australia will also present new opportunities to connect with and secure new customers," he said.

"Business events encourage domestic travel and the more events we can lock in, the more people we can get flowing through our airports, on planes and staying in hotels around the country."

Click here for more information on the Business Events Exhibitor Grants program.