The U.S. Small Business Administration (SBA) has awarded the Colorado Office of Economic Development and International Trade (OEDIT) a $500,000 State Trade and Expansion Program (STEP) grant to promote international exports for small businesses. Through this funding, the Global Business Development Division of OEDIT will continue its work to help small businesses across Colorado participate in activities that promote international sales and trade.
“Continued support from the SBA’s State Trade and Expansion Program has played a key role in helping Colorado’s small businesses expand their exporting activity, and that translates into an increased ability to grow their revenue and contribute to a strong Colorado economy. We look forward to continuing this important work with the support of the SBA,” said Michelle Hadwiger, Director of the Global Business Development division.
Last year, Colorado’s STEP award helped more than 80 small businesses across Colorado conduct international business development activities.
STEP funding is open to Colorado small business exporters to conduct international sales trips, attend international trade shows and develop websites or international marketing campaigns. Nationwide, the SBA provides these awards to a majority of U.S. states to support activities that increase exporting by small businesses.
Through the STEP grant, OEDIT and the Colorado Department of Agriculture (CDA) will participate in ten trade shows that connect Colorado small businesses to international buyers. The key industry programs include:
- Arab Health in Dubai, UAE in January, 2023
- Photonics West in San Francisco in January 2023
- JEC World in Paris, France in April 2023
- Hannover Messe in Hannover, Germany in April 2023
- Green Expo in Mexico City, Mexico in September 2023
- ANTAD in Guadalajara, Mexico, March 2023
- IFE in London, England in March 2023
- SIAL Canada in Toronto, Canada in May 2023
- National Restaurant Association in Chicago, Illinois in May 2023
- America’s Food and Beverage Show in Miami, Florida in September 2023
About the State Trade Expansion Program
The State Trade Expansion Program (STEP) is a financial assistance program for aspiring and current Colorado exporters entering into a new global market. Funded in part by a grant with the U.S. Small Business Administration, STEP provides grant awards to small businesses to offset international business development and marketing costs. Eligibility and application guidelines can be found on the website.