Michigan small businesses may be eligible to receive funding through the U.S. Small Business Administration State Trade Expansion Program (MI-STEP) for the upcoming year.
Small businesses that meet eligibility requirements can gain up to $15,000 in assistance to offset 75% of approved expenses.
Some approved uses include:
- Participation in foreign trade missions
- U.S. Department of Commerce services
- International website design, development, and translation; search engine optimization and localization maintenance and monitoring; e-commerce fees including hosting and maintenance
- Design and translation of international marketing media, including social media and digital ad placements
- International trade show participation
- Foreign sales trips
- U.S.-based international trade show participation
- Participation in export training workshops
Applications are accepted through Sept. 15, 2023, for MI-STEP grants to small- and medium-sized businesses. For complete details on how companies can apply for assistance, including eligibility requirements and the application process, visit michiganbusiness.org/export or complete the online intake form to start a conversation with an International Trade Manager.
Michigan has received $1.4 million in federal grant funds, the maximum amount awarded by the SBA – to help Michigan small businesses grow in the state through increased access to global markets.
The Michigan Strategic Fund is providing an additional $466,666 as the state match to support MI-STEP, now in its 11th year of supporting financial assistance for exporting activities of eligible Michigan businesses. MI-STEP offers financial assistance for exporting activities to eligible Michigan small businesses, enabling access to global markets and buyers while increasing the dollar value of Michigan exports.
To date, the Michigan Economic Development Corporation’s (MEDC) MEDC’s International Trade program has facilitated more than $4.7 billion in export sales through federal and non-federally funded programs. In fiscal year 2021, export sales generated a total of $558 million for Michigan businesses working with the MEDC.