Vermont the State Trade Expansion Program (STEP) – Export Marketing Grant

Amount: reimbursements for up to 75% up to a maximum of $20,000 per year.

The State Trade Expansion Program (STEP) is administered by the Vermont Department of Economic Development. Funding assistance is available to eligible small business exporters to support entry into foreign markets or expand international export activity through trade shows, trade missions, market research, e‐commerce, and export education.

The objective of this program is to increase the overall number of small business exporters and increase their export sales with a focus on relationship development, export planning, and job creation — helping businesses diversify by entering international markets.

Eligibility Requirements

To be eligible for STEP funding, Vermont businesses must meet criteria set forth by the SBA:

  1. Must be registered with the Vermont Secretary of State and have a physical operation and employees in VT;
  2. Product must be made in the USA – there is a 51% U.S. content requirement;
  3. Companies must meet SBA size standards for eligibility, which vary by NAICS code and type of business.
  4. Companies must be in business for no less than one year;
  5. Company must demonstrate understanding of the costs associated with exporting and doing business with foreign producers, including costs of freight forwarding, customs brokers, packing and shipping;
  6. Company must have a strategic export plan in effect.

Eligible Expenses

Eligible Vermont businesses working to expand into international markets may apply to receive reimbursements for up to four of the following activities:

  • Registration fees, booth space, and booth build‐out at export trade shows or virtual trade shows
  • Design of digital marketing media for international campaigns
  • Ecommerce and website localization fees Participation in foreign market sales trip or virtual sales meetings
  • Participation in foreign trade missions or virtual trade missions Fees for shipping sample product
  • Participation in ExporTech or other export trade training including virtual trainings
  • Cost of compliance testing an existing product for entry into export market
  • Export market research tool subscription
  • In‐depth consultation on export compliance or strategic growth planning
  • Export credit insurance fee

Eligibility Timeline

Applications are accepted on a rolling basis until all funds are allocated.

Amount of the Grant

Eligible Vermont businesses may apply to receive reimbursements for up to 75% of pre‐approved, allowable, export‐related expenses, up to a maximum of $20,000 per year.

Comments Off on Vermont the State Trade Expansion Program (STEP) – Export Marketing Grant Posted in American Grants