Pennsylvania’s Department of Community & Economic Development’s Office of International Business Development has received $500,000 as part of the Small Business Administration’s State Trade Expansion Program (STEP).
Small Business Administration (SBA) Administrator Isabella Casillas Guzman announced the award Wednesday.
“For over ten years, the SBA’s State Trade Expansion Program has been an important federal and state partnership to get funding directly to small businesses seeking to grow their businesses and our economy with international trade opportunities,” Guzman said in a statement. “And with these funds, small businesses can get trade-ready, attend trade shows in foreign markets, and grow through global e-commerce.”
Guzman added that the award ensures U.S. small businesses can promote their products and services to over 95% of the world’s consumers who live abroad.
The STEP award will assist Pennsylvania’s entrepreneurs to compete globally by offsetting costs incurred by export related activities, including participating in foreign trade missions and export trade show exhibits, designing international marketing campaigns, and taking part in training workshops.
Awardees were selected following an application process. Individual STEP awards are managed at the local level by state government organizations and nonprofit entities.
Acting Associate Administrator for International Trade Claire Ehmann said STEP’s impact is testament to the SBA’s support of U.S. small businesses looking to grow their international footprint.
“As STEP matures beyond its first decade, the SBA will continue modernizing and marketing this signature program that helps small businesses enter and expand into the international marketplace,” said Ehmann.