STEP Program’s Impact: $215 Million of Investment Dedicated to Small Business Export Growth
Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 33 million small businesses in President Biden’s Cabinet, announcead $20 million in awarded grants resulting in funding for 52 state and territory international trade agencies across the country – the highest number of grantees since the program’s inception. The awardees were selected after a highly competitive application process to SBA’s State Trade Expansion Program (STEP).
“For over 10 years the SBA’s State Trade Expansion Program has been a critical resource for small businesses and startups seeking to enter new markets, diversify and grow revenue streams, and identify new customers – all with an eye toward scaling their business for success,” said Administrator Guzman. “By providing this funding opportunity and leveraging the strengths and expertise across our state governments we can continue to help our diverse entrepreneurs innovate and take advantage of emerging opportunities abroad as we transition to stable, steady growth.”
Read the Full Press Release: SBA Administrator Guzman Announces 2022 State Trade Expansion Program Awardees