SBA awards Empire State Development $250,000 in state trade expansion program funding to expand exporting opportunities for NYS small businesses
Mon, Sep 28th 2020 01:50 pm
As the U.S. Small Business Administration (SBA) marks 10 years of supporting small business growth through its competitive state trade expansion (STEP) grant program, the federal agency announced the newest round of state awards that support export growth among U.S. small businesses.
The SBA announced at the end of National Small Business Week that the federal agency will provide $250,000 to Empire State Development’s Global NY division through this award that will be further increased by the state entity with $134,615 in matching funds.
“The opportunities for small businesses to grow through exporting are substantial, especially during this unprecedented time. The COVID-19 pandemic has resulted in a paradigm shift to increased web-based sales and virtual trade missions,” said SBA Regional Administrator Steve Bulger, who oversees the federal agency’s operations in the Atlantic and Mid-Atlantic regions. “Ninety-six percent of a small business’ potential customers live