Vermont Receives $300,000 for Small Business Exporting

ACCD has received a $300,000 exporting grant to assist small businesses in the state. The grant is awarded through the Small Business Administration’s State Trade Expansion Program, a federal-state partnership initiative to increase the number of small businesses exporting their products.

Since STEP was established in 2010, Vermont has received a STEP grant each year. Vermont has received more than $2.3 million in STEP grants.

The Department of Economic Development oversees and manages Vermont’s STEP grant. The funds may be applied to offset the costs for participation in foreign trade missions, export training and compliance, as well as company website upgrades to meet the international market.

The cancellation of opportunities to participate in-person at activities like trade shows and foreign trade missions due to Covid-19 resulted in new guidance from the SBA effectively doubling allowances for most activities and expanding the range of digital and virtual activities that are now eligible for reimbursement.

The Vermont STEP grants are awarded on a rolling basis and businesses can apply now. For full details on eligibility and the application process click here.