State Trade Expansion Program (STEP)
The Vermont STEP grant helps small businesses expand internationally by funding export-related activities like trade shows, e-commerce, and market research to boost sales and job creation.
Funder: Vermont Agency of Commerce and Community Development
Due Dates: Rolling (applications accepted prior to activity; subject to fund availability)
Funding Amounts: Up to 75% reimbursement of eligible export-related expenses, max $30,000 per business per year, up to four activities.
Summary: Supports Vermont small businesses expanding internationally by reimbursing export-related costs such as trade shows, e-commerce, and market research.
Key Information: Each activity requires a separate application; 25% cash match required; activities must be pre-approved.
Description
The State Trade Expansion Program (STEP) provides financial assistance to eligible Vermont small businesses aiming to enter or expand in international markets. Funded by the U.S. Small Business Administration and administered by the Vermont Agency of Commerce and Community Development, STEP reimburses a portion of approved export-related expenses. The program’s goals are to increase the number of small business exporters, boost export sales, foster job creation, and help Vermont businesses diversify through international trade.
Eligible activities include participation in trade shows and missions (in-person or virtual), B2B matchmaking, export training and consulting, e-commerce and website localization, product compliance and certification, and market research. The program emphasizes relationship-building, export planning, and measurable outcomes such as increased sales and job growth.
