The U.S. Small Business Administration announced that $18 million in funding has been awarded to 44 State international trade agencies through it’s competitive State Trade Expansion Program (STEP), to support export growth among U.S. small businesses.
STEP is designed to increase both the number of small businesses that begin to export and the value of exports for small businesses currently exporting. Expanding the base of small business exporters and making the process as easy as possible is a key component of the agency’s small business strategy.
“We are pleased to announce that Puerto Rico Trade & Export Company has been selected once more as recipient of a STEP award to expand the export promotion efforts of local small businesses,” said SBA District Director Yvette T. Collazo.
“The STEP program will provide Puerto Rico Trade with needed resources to help small businesses grow through exports and create additional jobs,” she said.
The 2017 STEP awards will allow states to assist small businesses with the information and tools they need to succeed in export related activities that are in line with the objectives of the program.
These objectives include participation in foreign trade missions, foreign market sales trips, services provided by the U.S. Department of Commerce, as well as design of international marketing campaigns, export trade show exhibits, training workshops and more.