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SBA Awards $20 Million in STEP Grants to Boost Small Business Exports – MyChesCo
The Small Business Administration (SBA) has recently announced that they will be awarding $20 million in State Trade Expansion Program (STEP) grants to help boost small business exports. This funding will provide support to small businesses looking to expand their reach internationally and increase their export capabilities.
The STEP program aims to help small businesses access new markets and customers around the world. By providing financial assistance for activities such as trade shows, market research, and export training, the SBA hopes to help small businesses grow and thrive in the global marketplace.
According to SBA Administrator Isabella Casillas Guzman, “Small businesses are the backbone of our economy, and we are committed to helping them succeed in the global marketplace. These STEP grants will provide critical support to small businesses looking to expand their reach and increase their exports.”
The $20 million in grants will be distributed to 48 states, the District of Columbia, Puerto Rico, Guam, American Samoa, and the U.S. Virgin Islands. Each state will receive funding to support export promotion activities for small businesses in their region.
Small businesses interested in taking advantage of the STEP program can contact their local SBA office for more information on how to apply for funding. With the support of these grants, small businesses can take their products and services to new markets and grow their businesses on a global scale.
