Since 2011, the Kentucky Export Initiative (KEI) has provided financial assistance to over 200 Kentucky companies through the State Trade Expansion Program (STEP). The STEP grant provides reimbursement to eligible small businesses for allowable international export development activities including:
- Participation in Training Workshops to directly benefit the company while gaining credible knowledge of export policies, regulations, and/or best practices.
- International trade expertise and assistance provided by the U.S. Commercial Service to expand or enter a market based on demand;
- Payment of website fees to build and/or enhance a robust online e-commerce platform; may include website translations into foreign languages;
- Design of Marketing Media to strengthen international export potential and reach target audiences;
- Trade show exhibitions to showcase and demonstrate products and services internationally;
- EXIM Bank export credit short term insurance premiums, private export credit insurance annual premiums, foreign buyer credit reports
Kentucky has been awarded over $3.6 million by the U.S. Small Business Administration’s Office of International Trade to promote exporting activities for Kentucky’s small businesses. This program has helped Kentucky companies across the state establish an international presence and grow their businesses.