SBA funding boosting Missouri small business exports
MISSOURI — Thanks to a new federal grant, Missouri’s small businesses will have more opportunities to export their products. The $599,000 grant from the U.S. Small Business Administration will focus on helping Show Me State exporters reach new markets in Central America and South America, while creating jobs and generating additional economic growth.
The funding is part of the State Trade and Export Promotion (STEP) Grant Program, established as part of the Small Business Jobs Act of 2010 to award grants to states to carry out export programs that assist eligible small businesses. The program will be administered by the Missouri Department of Economic Development’s International unit and complement the state’s best-in-class trade initiative, Export Missouri.
“Exports create jobs here at home, and with more than 95 percent of consumers located outside the U.S., helping Missouri businesses reach new customers around the globe has been a top priority of my administration,” said Gov. Jay Nixon. “These funds will enhance our efforts to help Missouri businesses –especially small businesses – compete and win in the global economy.”
Under the STEP program, Missouri businesses can receive funding to boost their exports, including participation in foreign trade missions and market sales trips, subscription to services provided by the U.S. Department of Commerce, website foreign language translation services, design of international marketing materials, trade show exhibitions, and participation in export and trade financing workshops.
Source: Gov. Jay Nixon Press Release