Funding is available for small Utah companies to offset international business costs! There is no need to travel internationally to take advantage of this opportunity.
The STEP Grant, which is funded in part through a grant with the U.S. Small Business Administration (SBA) and administered by World Trade Center Utah (WTC Utah), provides companies with funding to pursue a myriad of international business opportunities.
It is easy to apply and recipients may receive up to $10,000 for various eligible international business activities for the award year. Average awards are between $2,000 – $3,000 per activity.
Utah companies can utilize the STEP Grant and pursue international opportunities without leaving the state. Examples of expenses covered by the STEP Grant include:
Fees for shipping sample products.
Cost of compliance testing an existing product(s) for entry into an export market.
Export research tool subscription used to assist STEP Clients with market research.
Website translation into foreign languages, search engine optimization, and localization services.
Design of marketing media to commensurate with STEP’s statutory objectives.
All grant awards require a 25 percent cash match by the grant recipient. Participants must meet SBA eligibility requirements to participate and should be able to demonstrate a high return on investment.