The Small Business Administration has awarded the Colorado Office of Economic Development and International Trade a $324,804 grant to assist Colorado small businesses export products and services abroad.
The State of Colorado will provide $108,268 in matching funds.
Nationwide, the SBA awarded a total of $18 million to 47 state international trade agencies through its State Trade Expansion Program to support export growth among small businesses.
Dan Nordberg, the regional SBA administrator, said exporting offers ample opportunities for small businesses in Colorado. “Ninety-five percent of the world’s consumers live outside the United States. This STEP award will assist Colorado small business owners’ access new markets for their products and services across the globe.”
STEP is designed to meet three goals: increase the number of small businesses that export, increase the value of exports for small businesses and increase the number of small businesses that explore new trade opportunities.
“This award will help small businesses with export-related activities, including foreign trade missions, foreign market sales trips, subscription services provided by the U.S. Department of Commerce, export trade show exhibits and training workshops,” said Frances Padilla, director of the SBA Colorado District. “The STEP program ensures that Colorado’s small businesses can succeed in the 21st-century global economy.”
STEP awards are provided and managed at the local level by state government organizations and managed at a national level by the SBA Office of International Trade. Since the beginning of the STEP program seven years ago, about $138 million in grants have been awarded to fund export opportunities and increase the export operations of small businesses in countries all over the world.
For more information about the STEP Program and other services and resources provided by the SBA, visit www.sba.gov.