Vermont State Trade Expansion Program

State Trade Expansion Program (STEP) grant has been awarded to Vermont by the U.S. Small Business Administration (SBA) and is administered by the Vermont Department of Economic Development. Funding assistance is available to eligible Vermont businesses to support entry into foreign markets or expand international export activity through trade shows, trade missions, market research, and export education.

The SBA and STEP’s objective 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.

 

Eligibility

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

• Must be registered with the Vermont Secretary of State and have a physical operation and employees in VT.
• Product must be made in the USA – there is a 51% U.S. content requirement.
• Companies must meet SBA size standards for eligibility, which vary by NAICS code and type of business. Please verify before completing the application: www.sba.gov/federal-contracting/contracting-guide/size-standards.
• Companies must be in business for no less than one year.
• 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.
• Company must have a strategic export plan in effect.

 

Companies wishing to participate in the Vermont STEP grant may email Hilary DelRoss at hilary.delross@vermont.gov or call (802) 622-4337.