The U.S. Small Business Administration announced this week, that for the third year, states can apply for grants from SBA starting April 21 to support efforts to increase exporting by small businesses. The State Trade and Export Promotion (STEP) Grant Program will award $8 million in grants by September 30, 2014 on a competitive basis.
The STEP initiative’s goals are to increase the number of first time small businesses exporters and increase the value of current small business exports. The 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, American Samoa and the Northern Mariana Islands are eligible to apply. Award amounts vary based on the proposed project plan and budget. Expanding the base of small business exporters and making the process as easy as possible is a key to the Administration’s National Export Initiative.
Results for the STEP program have been very strong. In FY 2012, awardees reported a return on investment of federal funds of over seventeen-to-one.
“With today’s technological advances, small businesses are better equipped than ever to compete in the global marketplace. Exporting provides tremendous opportunities for America’s small businesses that are looking to expand and grow. The STEP program is another way that the U.S. Small Business Administration is partnering with states to give small businesses the tools and resources they need to take their business to the next level,” said Maria Contreras-Sweet, Administrator of the U.S. Small Business Administration.
A state may not submit more than one application for a STEP grant and should support the following export related activities: participation in foreign trade missions, foreign market sales trips, subscription services provided by the U.S. Department of Commerce, design of international marketing campaigns, export trade show exhibits, training workshops or other export initiatives that are in line with the objectives of the pilot program.
“Exporting is key to helping small businesses weather economic downturns while maintaining global competitiveness and driving job creation by helping small businesses innovate and find new markets,” said SBA mid-Atlantic Regional Administrator Natalia Olson-Urtecho.
The STEP grant program announcement is posted at www.grants.gov. The application period will be from April 21 through May 20. For more information, visit http://www.sba.gov/step.
