Trade Event Matching Funds Available to Boost Export Sales of Utah Companies
Matching funds available to help Utah companies boost export sales
Salespeople, pack your bags for that international trade event you’ve been eying. Utah small businesses that act quickly may apply for matching grants to offset espenses related to exhibiting at international events, participating with trade mission delegations, and receiving Gold Key Service through the U.S. Commercial Service in countries identified to increase your global markets. The U.S. Small Business Administration (SBA) and the Utah Governor’s Office of Economic Development (GOED) are offering funds through the STEP program. STEP awards are granted up to $2,250 and require a 25% cash match by the recipient up to $750.
Expenses eligible for reimbursement include:
- Airfare (Fly America provisions apply)
- Trade show exhibitor fees
- Trade show booth rental fees
- Gold Key Service (provided by the U.S. Commercial Service)
- Freight costs of equipment and/or exhibit materials to and from the trade show
- Interpretation service
- Ground transportation costs within the hosting locale
- Per diem (lodging and meals, based on U.S. Department of State per diem rates for the locale) for two employee’s for the duration of the event plus travel time up to one day before and on the day after the event.
Eligible businesses shall:
- Meet the federal definition of a small business
- Have been operating profitably for the past year
- Have a product for export
- Have a strategic plan for exporting
- Be new to export or are entering a new export market
Note: Site visits may be conducted by the program administrator to further determine a company’s eligibility.
Ineligible businesses are:
- Agents acting as intermediaries for other companies
- Law firms
- Non-profit organizations
- Educational institutions
- For-profit educational companies that are seeking to recruit students
- Retail businesses and distributors
- Companies that recruit foreign investment
The online application deadline is four weeks prior to the trade event. Applications submitted with less than four weeks notice will not be considered for an award. The international trade event must occur before June 30, 2014.
Awards will be given to Utah based small businesses on a first come first served basis until the program funds are expended. Events must occur by June 30, 2014, and preference will be given to companies that apply to attend events in the near future. Only one award is made per qualifying company each 12 month period. Awards are subject to the terms and conditions set forth by the U.S. Small Business Administration, which require that preferential weight be given to those companies that are women or minority or veteran owned and demonstrate financial need.
For more information contact
STEP Program Manager
State Trade and Export Promotion (STEP) matching grants are funded in part through a grant award with the U.S. Small Business Administration (SBA).