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U.S. SBA Names California as 2023 State Trade Expansion Program Awardee
09/08/2023
[ Article originally appeared in https://business.ca.gov ]
The U.S. Small Business Administration (SBA) announced that a grant totaling $700,000 has been awarded to the Governor’s Office of Business and Economic Development (GO-Biz) as part of the State Trade Expansion Program (STEP). STEP is a federally funded grant program that aims to increase export activities among small businesses. The program has helped thousands of small businesses across California sell their products and services overseas by covering various costs associated with entering and expanding into international markets. Since the inception of the program in 2011, the State of California has received approximately $9 million in STEP funding to support small businesses with exporting activities. These activities can include participating in foreign trade missions and international trade shows, globalizing websites and engaging in ecommerce, designing international marketing campaigns, and other important means of engagement. Emily Desai, Deputy Director of International Affairs and Trade at GO-Biz said, “Since 95% of the world’s consumers and two-thirds of all purchasing power are located outside the United States, this grant program plays a critical role in providing access to capital, access to markets, and access to buyers. Helping our small businesses in accessing the benefits of exporting, and the economic resiliency it can support, is one of our team’s primary goals. This new round of STEP funding will help ensure those benefits are made available to even more California small businesses, particularly those that have historically lacked access to economic opportunity.”
Visit GO-Biz’s California STEP website for more information about how California small businesses can participate in our STEP events and qualify for up to $10,000 in reimbursement funding for export promotion activities. Back To News |
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