Commerce Announces $900,000 of Grant Funding Available to Increase International Sales for Local Small Businesses
HELENA, Mont. – The Montana Department of Commerce announced today that $900,000 of federal grant funding is available to help small Montana businesses accelerate and grow international sales. The U.S. Small Business Administration funding is administered through Commerce’s State Trade Expansion Program.
“Commerce’s STEP grant makes world-wide markets more accessible to Montana’s small businesses,” said Paul Green, Director of the Montana Department of Commerce. “Since 2011, Commerce’s efforts through the STEP grant have produced a return on investment to Montana of $1.2 billion.”
The STEP grant will be used to support foreign trade missions, Montana pavilions at international trade shows and other international marketing projects. Since 2011, Montana has received $6.6 million in STEP grant funding from the SBA, matched it with $2.2 million in state funds, and awarded over 1,000 grants supporting 1,800 jobs for a return on investment of $1.2 billion.
Eligible Montana exporters can apply for 50 percent reimbursement of up to $10,000 for eligible marketing activities, like trade show exhibition, market research and U.S. commercial service programs and foreign language translation. Other eligible marketing activities include international compliance testing, intellectual property protection, digital marketing and travel stipends. Eligible applicants may receive up to $30,000 in STEP awards per year.
“Many Montana companies have tried out new international markets or implemented new export marketing plans because of the STEP grant,” said Angelyn DeYoung, International Trade Manager of Commerce’s Export MT Program. “When Montana companies export, they bring in new money to the state, increase their sales and diversify their markets.”
In 2023, Montana exported $3.3 billion of products, including the top-exported products such as cereals, mineral fuel, inorganic chemicals, meat and industrial machinery. The top countries that Montana companies export to are Canada, Mexico, Korea, Japan and China.
Earlier this year, Golden Helix, a biotechnology company in Bozeman, received STEP grant funds to participate in international trade shows and trade missions, at which they promoted their healthcare software, resulting in sales to new international markets and increased exports. “This was a great way to test the waters of a show we had not been to before to see how it will impact our sales and brand internationally. Every assistance program offered has been valuable,” said Andreas Scherer, President and CEO of Golden Helix.
The current amount of available grant funding, the fourth highest amount in the nation, is expected to assist an estimated 216 exporters with international sales activities and training and contribute approximately $10.3 million in total export sales.
In October, Commerce’s Export MT team will offer a “Grants for International Sales” training webinar on the STEP grant and international marketing activities.
For more information about Montana’s STEP Program, visit exportmontana.com. To apply for STEP funding, visit the application site.
“Commerce’s STEP grant makes world-wide markets more accessible to Montana’s small businesses,” said Paul Green, Director of the Montana Department of Commerce. “Since 2011, Commerce’s efforts through the STEP grant have produced a return on investment to Montana of $1.2 billion.”
The STEP grant will be used to support foreign trade missions, Montana pavilions at international trade shows and other international marketing projects. Since 2011, Montana has received $6.6 million in STEP grant funding from the SBA, matched it with $2.2 million in state funds, and awarded over 1,000 grants supporting 1,800 jobs for a return on investment of $1.2 billion.
Eligible Montana exporters can apply for 50 percent reimbursement of up to $10,000 for eligible marketing activities, like trade show exhibition, market research and U.S. commercial service programs and foreign language translation. Other eligible marketing activities include international compliance testing, intellectual property protection, digital marketing and travel stipends. Eligible applicants may receive up to $30,000 in STEP awards per year.
“Many Montana companies have tried out new international markets or implemented new export marketing plans because of the STEP grant,” said Angelyn DeYoung, International Trade Manager of Commerce’s Export MT Program. “When Montana companies export, they bring in new money to the state, increase their sales and diversify their markets.”
In 2023, Montana exported $3.3 billion of products, including the top-exported products such as cereals, mineral fuel, inorganic chemicals, meat and industrial machinery. The top countries that Montana companies export to are Canada, Mexico, Korea, Japan and China.
Earlier this year, Golden Helix, a biotechnology company in Bozeman, received STEP grant funds to participate in international trade shows and trade missions, at which they promoted their healthcare software, resulting in sales to new international markets and increased exports. “This was a great way to test the waters of a show we had not been to before to see how it will impact our sales and brand internationally. Every assistance program offered has been valuable,” said Andreas Scherer, President and CEO of Golden Helix.
The current amount of available grant funding, the fourth highest amount in the nation, is expected to assist an estimated 216 exporters with international sales activities and training and contribute approximately $10.3 million in total export sales.
In October, Commerce’s Export MT team will offer a “Grants for International Sales” training webinar on the STEP grant and international marketing activities.
For more information about Montana’s STEP Program, visit exportmontana.com. To apply for STEP funding, visit the application site.
Tags: Business and Press Release
