Delaware gets $282,636 from SBA to spur exports in state

The U.S. Small Business Administration (SBA),  announced  $282,636  to support export growth among small businesses in Delaware.  The funding was awarded through SBA’s competitive State Trade Expansion Program (STEP).

“Small businesses in Delaware are increasingly engaging in the ever-evolving global marketplace,” said SBA Mid-Atlantic Regional Administrator Natalia Olson-Urtecho.  “Through our STEP awards, Delaware can transform more small businesses to become exporters and expand their export sales. In the process, these small businesses create jobs and strengthen communities.”

Delaware Deputy District Director, John Banks, added “The STEP program in Delaware has funded Trade Missions to South Africa, Germany, Mexico, South Korea, and other countries. These visits resulted in Delaware Small Businesses generating projected new export sales more than $10 million in 2016 alone.”

Small Businesses interested in participating in the next round of trade missions and to learn more about beginning or expanding your exports can  visit www.global.delaware.gov/expand

STEP awards were created to advance key priorities identified in the President’s National Export Initiative, namely to expand the base of small businesses that become exporters and to make the exporting process as easy as possible for small businesses.  Recipients of STEP awards in the first three rounds (FY 2011, 2012, 2014) reported a strong return on federal taxpayer investment, generating $22 in U.S. small business export sales for every $1 awarded.

These awards are granted to U.S. states and territories to support programs that help small businesses expand their export-related activities.  This includes participation in foreign trade missions, foreign market sales trips, subscription services for access to international markets, as well as the design of international marketing campaigns, export trade show exhibits, export training workshops and more.

STEP funds allow small businesses the opportunity to meet foreign buyers face-to-face at trade shows or on trade missions and complement other SBA programs.