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Government Export Incentives
Because exporting brings foreign currency into the country and stimulates local manufacturing, its in the government’s interests to encourage more companies to export goods.
Marketing & Research Assistance
As such there are various incentives in place of which exporters can take advantage. For example, the dti has pavilion at the major international food shows every year, including SIAL in Paris and Anuga in Cologne and they see it as being in their interests to afford South African food companies space on this pavilion. The cost of setting up your own stand at a trade show of these proportions is prohibitive for most entrepreneurs.
The Export Marketing and Investment Assistance (EMIA) programme is one of the most valuable export incentive programmes because it compensates exporters for many of the costs involved in researching and developing markets for their products.
This means you can get government to cover the costs (and they can be considerable) of visiting trade shows, doing overseas market research and the like. In addition, the Department of Trade and Industry, through the EMIA, will help you to make contact with foreign buyers and put prospective buyers in contact with you.
In most instances you will need to pay for the costs upfront, and the claim the benefits on a reimbursement basis from the EMIA. In terms of qualifying criteria, you will also need to:
- Be registered for income tax and VAT
- Have a colour product and service brochure
- Have an export price-list in the currency of your chosen target market
- Have in your possession a catalogue of the trade show you visited or a similar printout from their website. Make sure you are invoiced directly by the exhibition organisers
- A set of recent audited financial statements, prepared and signed off by a registered accountant
- Your export marketing strategy
- Certified copy of the company incorporation certificate. If you want to get subsidies for your air and freight costs, you will need to give details of the transport costs of your product samples and use one of the dti’s TISA (Trade and Investment South Africa)-appointed transport service providers, from one of which you will also need to purchase your air ticket