OLYMPIA, Wash. – Washington State will receive nearly $1 million from the U.S. Small Business Administration (SBA) to help small businesses increase their exports.
According to the Washington State Department of Commerce, the funding comes from the State Trade Expansion Program (STEP) grant, which is distributing a total of $20 million to states nationwide this year. This marks the 14th consecutive year that these STEP grants have been awarded.
According to the SBA, the program has significantly benefited local businesses, generating a combined total of $600 million in revenue for Washington state. Businesses interested in applying for the STEP grant or checking their eligibility can visit choosewashington.com.
“As the world continues to experience economic challenges, exporting can serve as a key tool for small businesses to diversify their strategies and continue to grow,” said Commerce Director Mike Fong. “I’m proud that the SBA has recognized our team’s exceptional work once again with the largest STEP grant awarded to any state. We look forward to continuing to provide the best support to small businesses looking to grow outside of the United States through targeted trade shows and missions, export training, and technical assistance.”
