Michigan Receives $2,000,000 State Trade Expansion Program STEP Grant

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Michigan received $2 million in federal grant funds to help Michigan small businesses grow in the state through increased access to global markets. The amount is the maximum awarded by the SBA and a $650,000 increase from 2021.  

Managed by the Michigan Economic Development Corporation’s International Trade program, the Michigan STEP grant initiative (MI-STEP) aims to promote job creation by empowering Michigan small- and medium-sized enterprises (SMEs) to export their products, supplying financial assistance awards for eligible export development-related expenses.

The funds are expected to assist more than 350 Michigan companies in increasing international sales.

Read on to learn more.