Vermont Granted $174k to Help Small Business Exporting

The state of Vermont has received a $174,000 grant from the Small Business Administration to help small businesses reach international markets. This is the fourth time Vermont has been awarded a grant from the SBA’s State Trade and Export Promotion Program and the state has received more than $900,000 since the program’s creation as a result of the Small Business Jobs Act of 2010.

The Department of Economic Development will manage and use the funds to participate in foreign trade missions, export training, and compliance as well as company website upgrades to meet the international market.

Last year, the Department of Economic Development used its STEP grant to bring Vermont businesses to MEDICA, the world’s largest medical trade show in Germany. In April it brought business to AeroMart Montreal, an aerospace trade show.

“STEP grants have helped the state tremendously because we’ve been able to build increased readiness among Vermont companies, as well as increase real opportunities for international engagement,”  Joan Goldstein, Commissioner of Economic Development told Vermont Business Magazine. “And I would like to thank Krista Conley who joined us recently as the head of international trade for the State of Vermont. She has worked diligently with the SBA to bring this possibility to fruition and will carry out the deliverables throughout the year.”

The program will act as a launching pad for Vermont businesses to sell goods abroad while also growing business at home. One of every five jobs in Vermont is tied to international trade and jobs tied to trade, which generally pay a higher wage.

This grant will not only help the state of Vermont as a whole, but also our businesses right here in Burlington. The BBA is excited to see how this grant will help Burlington’s economic growth!