The U.S. Small Business Administration (SBA) announced that the State of Nebraska has been selected to receive $262,675 in funding for 9/30/2022 – 9/29/2024 to support small business export opportunities through the State Trade Expansion Program (STEP). This is the tenth year that Nebraska has been awarded a STEP grant.
Governor Pete Ricketts thanked the SBA for its continued support of the Nebraska small business community.
“Small businesses grow Nebraska by creating jobs and investing in their local communities,” said Gov. Ricketts. “Thank you to the Small Business Administration for supporting our small businesses through the STEP program. Over the past decade, STEP grants have helped dozens of Nebraska companies expand internationally. They are an important resource to create opportunities at home by marketing Nebraska’s premium products around the world.”
STEP provides financial awards to state and territory governments to assist small businesses with export development. To date, over $200 million has been awarded to assist in growing the volume and value of small business exports.
Here in Nebraska, over $70,000 of SBA funds have been invested into Nebraska-based companies just in the last year. During that time, those companies have reported actual sales totaling $277,787, projected sales of $1,548,000 and 303 jobs either created or retained.
One of those companies is Paraclipse Systems LLC. Hailing from Columbus, NE, this company specializes in easy-to-use insect control products for residential and commercial use. These are the safest and most sanitary fly, fruit fly, gnat, and mosquito eliminator products available. With Nebraska’s small investment of $10,000 Paraclipse reported $50,000 in sales, $150,000 in projected sales, and the creation/retention of 14 jobs.
“The market for Nebraska products, services and innovations extends well beyond our borders,” said DED Director Anthony L. Goins. “SBA’s STEP program is an invaluable resource for companies wanting to establish their international footprint and bring in new customers and revenue streams. The State of Nebraska appreciates the team at SBA for administering this impactful program on behalf of the small business community.”
Activities covered by STEP include learning how to export; participating in foreign trade missions and trade shows; obtaining services to support foreign market entry; translating websites to attract foreign buyers; and designing international marketing products or campaigns.
Financial assistance awards through the STEP grant can be used for a variety of activities, including:
Domestic or international trade shows, international sales trips
Eligible small businesses may apply for up to $4,000 in grant funding to attend qualified export-focused trade shows in the U.S., or up to $10,000 in grant funding for activities outside the U.S. Eligible expenses for up to two direct employees from a single Nebraska business or facility may apply.
Participation in U.S. Department of Commerce business matchmaking programs
Small businesses may be reimbursed for registration fees to participate in the Gold Key, International Partner Search, International Company Profile, Business Facilitation Services or other approved U.S. Department of Commerce (USDOC) programs. Preapproval by the U.S. Commercial Service in Omaha is required. For more information on USDOC programs contact Meredith Bond, USDOC, at meredith.bond@trade.gov.
Marketing Media Design and Translation Services
STEP will provide up to $6,000 for an eligible business to design and translate company profiles, catalogs, product literature, websites, videos, packaging, labels or manuals for international distribution.
Third party product compliance testing
STEP will provide up to $6,000 for an eligible business to complete 3rd party product compliance testing on their product(s) to verify their product meets specific international standards required to sell into a specific foreign country.
Various limits apply to each activity listed above. In addition, a 25% company match of the maximum reimbursement allowed is required to qualify for the program. Maximum reimbursement through the STEP grant program is $25,000 per company.
DED is also contracting with two agencies to provide the following market research opportunities:
Intermediate market research reports
Reports available through the University of Nebraska at Omaha’s (UNO) Nebraska Business Development Center will provide international market research to assess global demand, identify potential markets and investigate specific markets of interest to individual companies.
In-depth extensive research project
One in-depth research project is available to focus on market entry analysis addressing industry, company and product-specific international opportunities and challenges that exist in a client’s country of interest through an International Business Consulting Project (a component of UNO’s Executive Master of Business Administration Program).
To learn more about the STEP Program contact Colby Angst, Export Consultant, at colby.angst@nebraska.gov or go to https://opportunity.nebraska.gov/programs/business/step/.