STEP awards were created to advance key priorities laid out in the President's National Export Initiative, namely to expand the base of small businesses that become exporters and to make the exporting process as easy as possible for small businesses. These awards are granted to U.S. states and territories to support programs that help small businesses expand their export-related activities. This includes participation in foreign trade missions, foreign market sales trips, subscription services for access to international markets, as well as design of international marketing campaigns, export trade show exhibits, export training workshops and more.
These awards are designed to increase both the number of U.S. small businesses that start exporting and the overall value of U.S. small business exports. Recipients of STEP awards in the first three rounds (FY 2011, 2012, 2014) reported a strong return on federal taxpayer investment, generating $22 in U.S. small business export sales for every $1 awarded.
The SBA Office of International Trade resource page can be found here. Additional information on STEP can be found here.
About the U.S. Small Business Administration
The U.S. Small Business Administration (SBA) was created in 1953 and since January 13, 2012 has served as a Cabinet-level agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, the SBA delivers its services to people throughout the United States, Puerto Rico, the U.S. Virgin Islands and Guam. www.sba.gov
Contact: David Hall (202) 205-6697
Release Number: 16-59
Internet Address: http://www.sba.gov/news
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SOURCE U.S. Small Business Administration