Since 2011, the Kentucky Export Initiative has provided financial assistance to more than 200 Kentucky companies through the State Trade Expansion Program (STEP). The STEP grant provides 100% reimbursement to eligible small businesses for allowable international export development activities including:
- Trade show exhibitions to showcase and demonstrate products and services internationally;
- Subscription to services provided by The U.S. Department of Commerce to expand or enter a market based on demand;
- Payment of website fees to build and/or enhance a robust online e-commerce platform; may include website translations into foreign languages;
- Design of Marketing Media to strengthen international export potential and reach target audiences;
- Participation in Training Workshops to directly benefit the company while gaining credible knowledge of export policies, regulations, and/or best practices.
- Export Credit Insurance premiums for EXIM short term small business policyholders
Kentucky has been awarded nearly $2.3 million by the U.S. Small Business Administration’s Office of International Trade to promote exporting activities for Kentucky’s small businesses. This program has helped Kentucky companies across the state establish an international presence and grow their businesses.