SBA Issues $30 Million in Grants to Small Exporters
The U.S. Small Business Administration said it is providing $30 million in grants to help increase exporting by small businesses during the next 12 months.
Launched in March, the State Trade and Export Promotion Program’s funding will support participation in foreign trade missions, foreign market sales trips, subscriptions to services provided by the Department of Commerce, website translations fees, design of international marketing media, trade show exhibitions, participation in training workshops, and other critical export initiatives, according to the SBA.
The program provides federal government funding for 65% to75% of program costs, with states supplying the remainder, the agency said.
Forty-seven states, the District of Columbia, Puerto Rico, Guam, the Northern Mariana Islands, and the Virgin Islands have received STEP grants.
Small businesses that want to receive assistance under the STEP program should contact the organizations serving the states in which they are located. A list of organizations and more information about the program is online.
SBA said it anticipates it will conduct a new competition for STEP program grants this winter. Awards will be made in September 2012 for export support services by states over the following 12 months.
The STEP grants were authorized by the Small Business Jobs Act of 2010, according to the SBA.