Gov. Gretchen Whitmer joined the Michigan Economic Development Corporation (MEDC) Tuesday to announce Michigan has received the top award of $900,000 from the U.S. Small Business Administration (SBA) State Trade Expansion Program (STEP) for the upcoming fiscal year.
The Michigan Strategic Fund is providing an additional $300,000 as the state match to support the Michigan STEP initiative (MI-STEP) and help small businesses grow through increased access to global markets.
MEDC’s International Trade program has now facilitated nearly $6 billion in small business export sales development by deploying critical export resources and fostering a statewide network of export support.
This year marks the 13th year of STEP funding from SBA, which has awarded nearly $15 million to the state of Michigan since its inception. With 95% of the world's consumers and two-thirds of all purchasing power located outside of the United States, Michigan’s administration of STEP dollars to small businesses is critical in promoting Michigan’s goods and services worldwide.
“This year, Michigan has secured a top STEP award from the Biden-Harris administration’s SBA to help small local businesses access the international market and export their high-quality goods,” said Whitmer. “We are focused on connecting our businesses with the international network they need to expand and create jobs in Michigan. We will get it done by bolstering our federal partnerships and shoring up our state-level initiatives including the MEDC’s International Trade program. Together, we will grow our economy and help small businesses thrive right here in Michigan.”
This year’s SBA award will continue to support export development for small- and medium-sized businesses through grants for international sales trips, trade missions, and trade shows.
However, no additional activities will be eligible for the FY25 administration of MI-STEP.
MI-STEP is designed to spur job creation by empowering small- and medium-sized businesses to export their products, providing reimbursement grants up to $15,000 annually for eligible export-related expenses.
MI-STEP applications are accepted Nov. 1 through Sept. 15 for small- and medium-sized businesses pursuing export development.
MI-STEP grants are competitive awards and funding is not guaranteed. Companies that may not qualify for MI-STEP or do not receive MI-STEP funding are encouraged to engage with Michigan’s network of international trade resources and service providers offering support for businesses at any point along their international growth journey. These services include B2B matchmaking, qualified and unqualified partner lists, worldwide credit reports, export compliance support, customized market research, and more – available at no cost to Michigan small businesses.
