STATE TRADE EXPANSION PROGRAM (STEP)

The State Trade Expansion Program (STEP) is a grant program that aims to increase the number of U.S. small businesses that export, the dollar value of exports, and the number of U.S. small businesses exploring significant new trade opportunities. The program will provide funding to states to support projects that help eligible small business concerns (ESBCs) develop exports. The funding can be used for various activities such as participation in foreign trade missions, reverse trade missions, commerce subscription services, website and product translation, international marketing media design, and participation in trade shows. The program also requires a matching fund from the states, with a federal share of 65% for states with high export volumes and 75% for states without high export volumes. * Key activities that can be funded under the program include: * Participation in foreign trade missions * Reverse trade missions * Commerce subscription services * Website and product translation * International marketing media design * Participation in trade shows * Export training workshops * The program has a project duration of 12 months, with an option for an additional 12 months. * The program requires a matching fund from the states, with a federal share of 65% for states with high export volumes and 75% for states without high export volumes.