State of South Carolina receives U.S. Small Business Administration funding
COLUMBIA, S.C. – The South Carolina Department of Commerce (S.C. Commerce) has been awarded a State Trade Expansion Program (STEP) grant from the U.S. Small Business Administration (SBA). Through a competitive application process, the state received its full requested amount of $325,000 to support and encourage small business export success.
“As South Carolina companies look to diversify, expand, and become more resilient, they are primed to serve international markets,” said Secretary of Commerce Harry M. Lightsey III. “This funding provides opportunities for small businesses to maximize their potential; we appreciate the U.S. Small Business Administration’s award, which helps make such growth possible.”
STEP reimburses a portion of companies’ participation in S.C. Commerce trade missions. The funding also provides these companies an opportunity to participate in major international trade exhibitions and U.S. Commercial Service programs. Other exporting activities include, but are not limited to, overseas market sales trips, designing international marketing campaigns and attendance at export training workshops.
To date, the STEP program has awarded more than $255 million in grants nationwide with over $6.8 billion in resulting export sales reported. This latest round of funding is projected to assist 60-65 companies in South Carolina.
S.C. Commerce provides a variety of other export programs and services, including assisting both new and experienced exporters with on-site counseling, developing market entry strategies, administering export training, and connecting companies with other appropriate partners and resources.
Companies interested in learning about S.C. Commerce's export assistance program and how to apply for STEP funding, should contact S.C. Commerce’s International Trade team at [email protected].