BECA welcomes $50 million funding announcement which will instil confidence and build momentum for Australia’s business events industry.
The Business Events Council of Australia (BECA) welcomes the Government’s $50 million funding announcement to support the restart of Australia’s business events industry. The targeted support will drive confidence and create momentum, positioning the industry to rebound as market conditions improve.
Under the Australian Business Events Grants Program, approved business events, including meetings conventions, incentives and exhibitions, will be able to apply for upfront grants to cover up to 50 per cent of their costs (between $10,000 and $250,000). This initiative is part of the Morrison-McCormack Government’s $1 billion COVID-19 Relief and Recovery Fund, which supports sectors severely affected by the COVID-19 pandemic.
The Business Events Council of Australia (BECA) welcomes the Government’s $50 million funding announcement to support the restart of Australia’s business events industry. The targeted support will drive confidence and create momentum, positioning the industry to rebound as market conditions improve.
Under the Australian Business Events Grants Program, approved business events, including meetings conventions, incentives and exhibitions, will be able to apply for upfront grants to cover up to 50 per cent of their costs (between $10,000 and $250,000). This initiative is part of the Morrison-McCormack Government’s $1 billion COVID-19 Relief and Recovery Fund, which supports sectors severely affected by the COVID-19 pandemic.
Last year over 480,000 business events were held in Australia and over 43 million people attended a business event in the form of a meeting, convention, exhibition or incentive event. In a recent survey conducted by BECA, 67% of businesses said they don’t have any business events confirmed for 2020 and 48% of businesses said they don’t have any business events confirmed for 2021 either.
While Australia’s state and territory borders remain closed, the recovery of the business events industry is seriously impeded. BECA calls for clear guidelines that provide predictability and transparency in the way the borders are being managed so businesses can plan and book their next business event with confidence. BECA’s work with Government, and implementation of the Australian Business Events Grants Program, will allow the industry to move to the next phase of recovery and rebound.