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STEP Year 8 - new application available
Story Date: 9/23/2019
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Source: NCDA&CS, 9/20/19
The Economic Development Partnership of North Carolina (EDPNC) is proud to announce another year of funding has been awarded for the North Carolina State Trade Expansion Program (STEP). The EDPNC, in conjunction with the U.S. Small Business Administration, provides funding to qualifying small businesses to offset costs associated with exporting.
STEP funds assist companies with
• participating in foreign trade shows and trade missions
• optimizing websites to attract foreign buyers
• translating marketing materials to reach a broader audience
• obtaining services to support foreign market entry
• attending select export education courses throughout the program year
• participation in our Southeast Asia Export Initiative
Please read the following carefully before you complete the application.
How to apply: On the application, please complete pages 1-2 with your basic company information. Funding requests can be made on pages 3-4, and they require estimates to be attached when you apply. EDPNC's upcoming Export Education seminars are listed on page 5, where you check them to indicate you may want to register. Be sure to sign & date pages 5, 6, and 8. Do not list the same event under the Travel section and the Booth section. You can apply for all 3 categories of funding now, or you can apply for some categories now and others later upon request. Travel and Booth funding are '1 and done’ categories, whereas Export Services funds can be dipped into multiple times, as long as program-funding allows, up to $3,000. All forms and attachments should be sent directly to Jen Vogelsberg via email, whenever possible. Please submit all materials at least 30 days in advance of your activity.
Eligible companies must:
• be organized or incorporated in the US
• operate in the state of North Carolina
• meet the SBA’s size standards for a Small Business Concern
• have been in business for no less than 1 year
• be in good standing with the federal government (have not been debarred)
• be an export-ready US company seeking to export goods or services of US origin or have at least 51% US content
• have access to sufficient resources to bear the costs associated with trade
Ineligible companies:
• do not meet SBA size standards for an SBC
• are based in a foreign country
• are not organized for profit
• are engaged in any activity that is illegal under Federal or state law
• derive more than 1/3 of their gross annual revenue from legal gambling activities
• are consulting, distribution, or logistics companies who are acting as intermediaries and are not directly exporting their goods or services to foreign entities.
Keep in mind: Qualifying activities must take place during the STEP Program year, which runs September 30, 2019 – September 29, 2020. All activities must be approved by the STEP program before they are executed or paid for (payment exceptions are listed in the bullets below).
The STEP Year 8 Program offers up to $11,000 in export assistance funds:
• Booth reimbursement up to $5,000 toward international trade shows (booth cannot be shared; company’s name must be listed in the exhibitor directory; domestic shows do not qualify for booth reimbursement; booth can be paid up to 12 months in advance of the event)
• Travel reimbursement up to $3,000 (covers 1 or 2 company employees combined; company must be a registered exhibitor and listed in the show’s directory; domestic shows only qualify if they are on the International Buyer Program (IBP) list; travel reimbursement is limited to airfare adherent to the Fly America Act and lodging up to the per diem rate for the city/month of travel; companies who join an EDPNC booth may also receive travel funding; airfare is allowed to be paid for up to 6 months prior to the event; lodging cannot be paid for before the start of STEP program-year, i.e. 9/30/19)
• Export Services reimbursement up to $3,000 (includes most services offered through the US Commercial Service office; includes translation of website and/or marketing materials; includes website search engine optimization)
• Free attendance at Export Education seminars across the state:
o 10/10-11/19 – Export Bootcamp (Greensboro)
o 11/14/19 – Export Controls (Jacksonville)
o 2/25/20 – Incoterms 2020 (Conover)
o 5/12/20 – Export Compliance (Asheville)
o 8/4/20 – HTS/Schedule B Classification (Greensboro)
• Participation in our Southeast Asia Export Initiative to benefit from market research, distributor searches, trade show assistance, and other business development activities in the region.
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