Gov. Braun Helps Small Businesses Grow Sales, Export Products with New Funding

INDIANAPOLIS — Indiana Governor Mike Braun today announced the state has secured $765,000 in competitive grant funding from the U.S. Small Business Administration to help Indiana small businesses increase and expand their product sales. The funding will support the Indiana State Trade Expansion Program (IN-STEP), which helps small businesses develop and expand export-related activities, opening up new international markets for Hoosier-made goods around the world.

“Indiana’s small businesses are the engine of the Hoosier economy, and we are committed to supporting their continued growth and success,” said Gov. Braun. “Indiana offers comprehensive support for aspiring and current entrepreneurs and small businesses, and IN-STEP is yet another tool we can provide to help Hoosiers identify new customers, increase sales and succeed in a global economy.”

IN-STEP is designed to help Indiana small businesses identify, market and sell their products or services around the world. Through the program, eligible companies can receive financial assistance towards the execution of eligible trade expansion activities, such as participating in international trade missions, trade shows and export educational programs, as well as other export services provided by the U.S. Department of Commerce. This grant funding is currently available to Indiana companies to support eligible trade activity executed between June 30, 2026, and the end of 2026.

Since the program’s launch more than five years ago, IN-STEP has provided nearly $1.75 million to over 100 Indiana entrepreneurs and small businesses with 260 international trade expansion projects across six continents. These businesses have reported export sales of $40.2 million as a result of grant-support activities, generating an approximate return on investment of $23.40 for every federal grant dollar invested.

“Our goal is simple: help Indiana businesses grow as fast as possible,” said Indiana Secretary of Commerce Chuck Goodrich. “For our small businesses, growth shouldn’t stop at the state line or the nation’s border. IN-STEP gives Hoosier companies another tool to reach new customers, compete in new markets and increase sales, strengthening their businesses and creating more opportunity here at home.”

Applications:

Indiana entrepreneurs and small businesses are encouraged to apply for international trade assistance through IN-STEP. Visit iedc.in.gov/program/in-step to learn more about IN-STEP eligible activities and expenses as well as the application process.

To be eligible for IN-STEP funding, companies must 1) apply for an eligible IN-STEP activity, 2) identify at least one target international market, and 3) provide a detailed scope and budget.

Additionally, all companies must meet the following minimum requirements:

- Become a registered vendor with the State of Indiana;

- Be in operation for at least one year;

- Be new to exporting or pursuing market expansion;

- Be an Indiana Small Business Development Center (Indiana SBDC) client;

- Be in accordance with SBA size standards, which categorizes small businesses based on measures like industry, number of employees and annual receipts. Use the SBA’s Size Standards Tool to see if your company qualifies; and

- The business’ goods must be made in the U.S. or composed of at least 51% U.S. material.

Learn more about Indiana’s programs and resources for entrepreneurs and small businesses here.

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IN-STEP

IN-STEP is funded in part through a cooperative agreement with the U.S. Small Business Administration. In accordance with Section 632 of Public Law 117-328: Indiana State Trade and Export Promotion Program Year 13 total program funding is $765,000, including federal funding (74% - $565,000) and non-federal funding (26% - $200,000).

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