Administrator Isabel Casillas Guzman of the U.S. Small Business Administration (SBA) announced $20 million in State Trade Expansion Program (STEP) grants awarded to 43 state and territory international trade agencies. These grants aim to support small businesses in increasing their export volume and value. States can start soliciting applications from small businesses immediately, with funding available starting September 30.

"With 95% of the world’s consumers based outside of the United States, our small businesses need access to markets abroad to grow and create good jobs in America," said Administrator Guzman. "Through SBA’s STEP funding to states, small businesses can get grants to export to new markets and grow their revenues through marketing, trade missions, and more."

New Hampshire Senator Jeanne Shaheen highlighted the importance of these grants: "Small businesses build the economic future of the Granite State by tapping into international markets and growing exports at a record pace thanks to programs like STEP." She added that she led New Hampshire's first overseas trade mission as Governor and worked on creating STEP in 2010 when she joined Congress.

Dan Krupnick, Associate Administrator for SBA’s Office of International Trade, emphasized the program's role: "The STEP program supports initiatives for small businesses to access global markets seamlessly." He noted that it helps them understand exporting intricacies, participate in international trade shows, and create websites tailored for foreign buyers.

These 43 awardees were chosen through a competitive application process. The new grants will provide local entrepreneurs with information and tools necessary for success in export-related activities such as foreign trade missions, market sales trips, international marketing campaigns, export trade show exhibits, and training workshops.

Since its inception in 2010 under The Small Business Jobs Act, STEP has awarded $255 million in grants resulting in over $6.8 billion in exports with more than 18,000 small businesses benefiting from these funds. Last year alone saw a return of $27 in export sales for every dollar invested in STEP.

Individual awards are managed locally by state government organizations. For more information on eligibility or to apply for funding opportunities, visit www.sba.gov/STEP.