Funding for business globalisation

The government has introduced the Global Opportunities program, promising $254.1 million over 10 years to help Australian companies become global businesses.

The program's aim is to build the capability of small to medium-sized enterprises to identify opportunities, bid for work on major international projects and integrate into global supply chains.

Market intelligence identifying emerging opportunities will be provided through the program, along with support databases and directories of Australian capabilities and opportunities.

It is hoped the program will help Australian businesses "get on the radar' of global enterprises and increase their access to supply opportunities in major international projects.

Industries expected to benefit from the program include the aerospace, automotive, biotechnology and food technology sectors.