Over the next 12 months, small businesses will receive their share of $30 million in grants from the SBA to help their exporting efforts.
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.
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