State Trade Expansion Program - Boosting Small Business Exports
This program, funded by a grant with the U.S. Small Business Administration, aims to increase the number of small businesses exporting and exploring new trade opportunities. Eligible applicants can receive financial assistance awards between $2,000 and $10,000, with a 35% cash match requirement. Activities include foreign trade missions, sales trips, and services from the U.S. Department of Commerce. Apply online to access grants for international trade growth.
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Presentation Transcript
Program Overview State Trade Expansion Program (STEP) o Funded in part by a grant with the U.S. Small Business Administration (SBA) Three Goals 1) Increase the number of small businesses that export 2) Increase the value of exports 3) Increase the number of small businesses exploring significant new trade opportunities
Financial Assistance Award (FAA) Guidelines o Minimum / Maximum Award Amounts Minimum Award = $2,000 Maximum Award = $10,000 35% cash match requirement o Required Reporting Up to 4 reports will be required
Financial Assistance Award (FAA) Refer to FAA Guidelines Section G Program Limitations o One application for up to $10,000 on a single project per application period o Maximum of 3 Financial Assistance Awards during the grant period, September 30, 2018 September 29, 2020 o Same project may not be funded more than a total of three (3) times per company
Eligible Applicants Refer to FAA Guidelines - Section C Self-Representation as an Eligible Small Business Concern o Organization/Corporation in US o Operates in US o Meets Size Standards NAICS Size Chart o 1 year in business o Resources to fund export
Apply Online! Request your grant portal login as soon as possible but at least a 48 hours before application deadline o Email: tina.salisbury@commerce.Idaho.gov If you have previously applied for a grant through the portal you will use that same login o You can reset your password on the login screen o Best practice download budget first from the STEP webpage Idaho Grants Portal
Eligible Activities Refer to FAA Guidelines - Section B Governor s or foreign trade mission Foreign market sales trips Services provided by the U.S. Department of Commerce (International Partner Search, Gold Key and Platinum Key) o U.S. Commercial Service - Export Assistance Center of Idaho International Trade shows
Expenses Refer to FAA Guidelines - Section D & E Airfare o Fly America Guidance/Waiver/Open Skies o Economy or Economy Plus ONLY o Receipt must show name of traveler and flight class Hotel Meals & Incidental Expenses (M&IE)
Ineligible Expenses Refer to FAA Guidelines - Section E Travel expenses for importers/distributors or in- market company representatives Printing Passport or visa costs Cell phone charges Website Product development, alteration or enhancement CE Mark
Budget and Request for Reimbursement (RFF) 2 in 1 Template Your one stop for: budgeting for this application and, if awarded: same document worksheet is used for your reimbursement request upon completion of the project
Details, Details, and Idaho Grants Portal the meat of the application Key application questions & best answers: Question:Provide details on what market research or other activities you conducted that led the company to choose the market & this specific activity. Include the following: who your customers are, sales channels, market demographics, mark regulations and tariffs. o Answer: France is one of the EU s dominant players in aerospace, with a vertically developed industry that is estimated to be worth $15 billion. France s aerospace industry is involved in development of helicopters, avionics, and jets for defense forces, passenger aircraft for civil aviation, weapons and several other aeronautical projects. Many private institutions and aerospace industries base their primary location in France. The French government has taken many initiatives that encourage new aerospace research and development in the region to give boost to the aerospace industry. Our customers vary between small municipal airports and maintenance repair operations, to avionics developers, large commercial airlines and military bases. This wide array of customers encompasses our demographics simply because the need for our equipment is standard throughout aviation; anyone who flies or repairs a plane of any type requires nearly everything in our product line. Sales channels are carved out through the following which include but are certainly not limited to: direct distribution and representation, personal references, the internet which includes our online webstore, ads within trade publications such as Ground Support Worldwide and Trade-a-Plane, and requests for leads from current customers. Regarding tariffs - free trade agreements with Chile, Mexico, Canada and other countries get our US-made products imported at competitive price points. We deal with tariffs on a country-by-country basis. Currently, our HS codes for our products have not been affected by the retaliatory tariffs imposed by the EU. o
More Details Uploading documents be patient VERY COMPETITIVE!
So Youve Summitted an Application Now What?
Selection and Scoring Criteria Refer to FAA Guidelines - Section G Scoring Requirements Risk Ratings Notice of Awards or Notice of Non-Funding
Bonus Criteria: (up to 12 points available) Rural Woman Owned Veteran or Service-Disabled Veteran Owned Socially & Economically Disadvantaged New to STEP
A copy of the power point can be found on our website https://commerce.idaho.gov/idaho-business/international-trade/step-grant/ Contacts: Tina Salisbury, Idaho Department of Commerce Idaho STEP Project Director Phone: (208) 287-3164 Email: tina.salisbury@commerce.idaho.gov Chelsea Conlon, Idaho State Department of Agriculture STEP Lead Phone: (208) 332-8678 Email: Chelsea.Conlon@isda.idaho.gov Funded in part through a grant with the U.S. Small Business Administration
