This year marks the 10th year of STEP funding, which has awarded more than $13 million to the state of Michigan since its inception. Since 95 percent of the world's consumers and two-thirds of all purchasing power are located outside the United States, this grant program plays a critical role in providing access to capital, markets, and buyers. “These STEP grants will help businesses across Michigan gain access to international markets and create new revenue streams to compete in today’s global economy,” said Governor Whitmer. “I will work with anyone and compete with everyone to grow our economy by bringing home big projects and empowering small businesses. This funding from the SBA will help even more Michigan companies expand and compete worldwide. Because of our hardworking people and innovative small businesses, unemployment is low and our economy continues to grow. We will keep using every tool and resource we have to move Michigan forward.
”Administered by the Michigan Economic Development Corporation’s International Trade program, this year’s SBA award supports export development for small- and medium-sized businesses through financial assistance grants for virtual and in-person trade missions, international sales trips, and trade shows along with website translation, search engine optimization, international certifications, and more.