State Trade Expansion Program (STEP)

State Trade Expansion Program (STEP) is sponsored by Vermont Agency of Commerce and Community Development. Offers reimbursement for export-related expenses to eligible Vermont businesses.

State Trade Expansion Program (STEP) | Agency of Commerce and Community Development Northern Border Regional Commission (NBRC) BIPOC Business and Career Assistance Program Brownfields Revitalization Fund State Trade Expansion Program (STEP) Rural Industry Development Program (RIDP) Vermont Training Program (VTP) Vermont Economic Progress Council (VEPC) State Trade Expansion Program (STEP) The State Trade Expansion Program (STEP) is funded through a grant from the U.S. Small Business Administration (SBA).

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.

Eligible Vermont businesses working to expand into international markets may apply to receive reimbursements of up to 75 percent of pre-approved, allowable, export-related expenses, up to a maximum of $30,000 per year for up to four of the eligible expenses (a separate application must be submitted for each activity).

Part A: Reimbursement Grant Application Part B: Data Collection Instrument The following expenses may be eligible for reimbursement through this program. If you’re unsure about a specific expense, please contact us.

Trade Shows, Trade Missions, and B2B Matchmaking (In-Person or Virtual) Eligible costs may include: Registration fees and booth space Trade show booth design, branding, and build-out Creation of virtual trade show exhibits (e.g., product videos, photography, digital content, online catalogs) Participation in foreign or virtual trade missions (Foreign trade missions must involve travel outside the U.S. to seek buyers or increase export sales) Technology upgrades or platform fees for virtual meetings Contract services for organizing or pre-screening B2B matchmaking meetings Shipping costs for product samples Export Training and Consulting Eligible costs may include: Enrollment in ExporTech training program Enrollment in other export-related training programs, which may include: Market research and intelligence Problem-solving for export-related challenges Connections to export support programs and resources Guidance on meeting international regulations E-Commerce, Website Localization, and Digital Marketing Eligible costs may include: Building or upgrading an international-ready website Website translation and localization SEO for international audiences E-commerce platform fees (hosting, maintenance, etc.) Payment system upgrades for international transactions Fees for listing products on international online marketplaces Translating ads or promotional content Product Compliance, Certification, and Labeling Eligible costs may include: Export-specific label modifications Market Research & Insurance Eligible costs may include: Subscriptions to export market research tools Export Credit Insurance fees from the EXIM Bank Printing expenses (e.g., brochures, flyers) are not eligible for reimbursement.

To be eligible for STEP funding, Vermont businesses must meet criteria set forth by the SBA: Be registered with the Vermont Secretary of State and have a physical operation and employees in Vermont Product must be made in the USA, and there is a 51% U.S. content requirement Meet SBA size standards for eligibility, which vary by NAICS code and type of business.

Be in business for no less than one year; Demonstrate understanding of the costs associated with exporting and doing business with foreign producers, including costs of freight forwarding, customs brokers, packing, and shipping Have a strategic export plan in effect Application and Reimbursement Process Prior to starting the activity, complete PART A: Reimbursement Grant Application and submit all supporting documents: W-9 signed within the last 12 months A pdf copy of your organization’s Conflict of Interest Policy.

A Certificate of Insurance certifying a minimum of $1,000,000 in commercial general liability, $500,000 in automobile liability, workers' compensation in compliance with Vermont state laws, and indicating the State of Vermont as the certificate holder Upon completion of the trade activity, complete PART B: Data Collection Instrument , and submit all supporting documents: Scanned copies of paid invoices/receipts An itemized worksheet indicating costs in U.S. Dollars at the time expenses were incurred Reimbursements require a 25 percent cash match and are distributed as grants from the State of Vermont.

They will be available upon pre‐approval of application PART A: Reimbursement Grant Application and availability of funds.

Allowable expenses for the cash match may include the following travel expenses for one business representative: Airfare (consistent with Fly America Act guidelines ) Lodging (based on GSA per diem rates ) Businesses will be contacted by the State of Vermont to document the successes achieved with the help of this grant.

Grant recipients agree to provide the State with confidential information following the activity, such as: Business under negotiation and/or sales achieved Jobs created or retained as a result of the trade activities The State of Vermont is required by the SBA, as a condition of its funding for this program, to provide feedback on all activity in the form of progress reports collected quarterly from all STEP awardees through the end of the grant cycle period.

Recipients of SBA grants acknowledge that their cooperation in this regard is a contingency of such funding. The State of Vermont appreciates your cooperation, and it is essential to our ongoing success in securing and administering SBA grants on behalf of Vermont businesses. Contact Nathan Davidson, State Trade Expansion Program Manager, Vermont Department of Economic Development nathan.

davidson@vermont. gov This program is funded in part through the US Small Business Administration.