The Kentucky STEP Grant Journey for Metals Companies

[Image: STEP]

Kentucky State Trade Expansion Program (STEP) Grant offers an exciting opportunity for small and medium-sized metals companies based in Kentucky to expand their horizons and venture into international markets. Sponsored by the Kentucky Cabinet for Economic Development in collaboration with the U.S. Small Business Administration (SBA), this grant is now open for applications.

Whether new to exporting or expanding globally, metals companies in Kentucky may be eligible for a STEP grant reimbursing them up to 100% (and/or up to $10,000) This financial support can be utilized for various purposes, including learning to export, designing international marketing products and campaigns, supporting website globalization and e-commerce capabilities, paying for subscriptions to services provided by the U.S. Department of Commerce and other federal agencies, and participating in export trade show exhibits and training workshops.

The grant amount is up to $10,000 per year, and the application deadline is rolling, with submissions accepted year-round, contingent upon available funds.

The Kentucky STEP grant aims to assist small businesses in overcoming obstacles to exporting by providing grants to cover costs associated with entering and expanding into international markets. Additionally, the program introduces small businesses to a network of export experts through the Kentucky Export Initiative (KEI).

To be eligible for the STEP Grant, businesses must be small, private for-profit companies operating in Kentucky, ready to export, in business for no less than one year, organized or incorporated in the U.S., and registered in good standing with the Kentucky Secretary of State, have a working website, and meet U.S. Small Business Administration size standards. Exported goods and services should have at least 51% U.S. content and/or be of U.S. origin.

Eligible businesses can use STEP grant funds for a range of export development activities, including export training, webinars, and technical support, U.S. Department of Commerce and U.S. Rural Export Development user service fees, compliance, website development, search engine optimization, translations of websites and manuals, and e-commerce platforms, design of marketing media for international audiences and booth design, trade missions and interpreter services, shipping of product samples, booth structures, trade show materials, and equipment, travel, registrations, and booth fees for exhibiting at approved trade shows, and export credit insurance premiums, foreign buyer reports, and travel for approved foreign market sales visits.

Take advantage of this chance to propel your metals company onto the global stage. Apply for the Kentucky STEP Grant today. Do you have questions? Reach out to Mary NeCamp, Program Manager/STEP Director at the Kentucky Cabinet for Economic Development, mnecamp@ky.gov.

Check out MI2's 2-page grant summary on the Kentucky STEP Grant.