The U.S. Small Business Administration recently announced that it will provide $17.4 million in funding to help small businesses expand globally.
As part of its State Trade and Export Promotion (STEP) program, the funds will be made available through 40 grant awards to states and territories to support activities that help small businesses start or expand their exporting.
In recognition of the vital role that exports play in the growth of America's economy, the SBA created STEP in 2011 to help increase exporting opportunities for small businesses. By providing funding to states and their export development partners, such as the California Centers for International Trade Development (CITD), the SBA ensures access to local resources that help small businesses enter global markets. In this funding round, California is slated to receive over $740,000 in grant funds.