State Trade Expansion Program (STEP)
STEP, from the Vermont Agency of Commerce and Community Development, funds Vermont small businesses’ science-based export activities to boost global market entry and competitiveness.
Funder: Vermont Agency of Commerce and Community Development
Due Dates: Rolling (applications accepted prior to activity date)
Funding Amounts: Up to $30,000/year per business (75% of eligible expenses reimbursed; 25% cash match required)
Summary: Supports Vermont small businesses expanding into international markets through reimbursement of export-related expenses.
Key Information: Only Vermont-based businesses meeting SBA size standards are eligible; separate applications required for each activity.
Description
The State Trade Expansion Program (STEP), administered by the Vermont Agency of Commerce and Community Development and funded by the U.S. Small Business Administration, provides financial assistance to Vermont small businesses aiming to enter or expand in international markets. STEP reimburses up to 75% of pre-approved export-related expenses (maximum $30,000/year per business) for activities such as trade shows, trade missions, market research, e-commerce, and export education. The program is designed to increase the number and success of Vermont exporters, emphasizing strategic export planning, relationship development, and job creation.
