The U.S. Small Business Administration (SBA) has awarded $19 million in grants to 48 state international trade agencies to support the growth of small business exporting. The grants were awarded under the SBA’s State Trade Expansion Program (STEP), which aims to increase the number of small businesses that export, the value of their exports and the number of small companies that seek new trade opportunities.
The grants can be used by states to provide small businesses with the tools and information they need to succeed in export-related activities. These including participation in trade missions, international marketing campaigns and obtaining the services provided by the Department of Commerce. Exporting is an effective way for small businesses to diversify their customer base and grow their revenue. The grants can help these businesses thrive internationally while creating jobs and strengthening their communities, said Loretta Greene of the SBA’s Office of International Trade.