Programs have generated more than $15 million in export sales since 2011
COLUMBIA, SC – The South Carolina Department of Commerce has been awarded a State Trade Expansion Program (STEP) grant from the US Small Business Administration (SBA) for the fifth year. In total, the SBA is awarding $18.8 million to 44 states in this year’s round of STEP grants, which are designed to support and encourage small business export success. South Carolina was awarded its full requested amount of $333,364.
As a critical component of the state’s economic development efforts, the South Carolina Department of Commerce continues to expand its export initiatives. In 2014, in an effort to build on the success of its own STEP program, the Department of Commerce created South Carolina Opportunities for Promoting Exports, or SCOPE. Over the last six years, these two programs have generated more than $15 million in export sales, helping South Carolina companies sell products to more than 40 different countries around the world.
“This crucial program remains a useful resource for small and medium-sized business to expand their footprint. South Carolina has become an international player, and we hope that companies can continue to take advantage of all the tools available to them,” said Secretary of Commerce Bobby Hitt.
Helping small and medium-sized businesses seize export opportunities, the grant reimburses small business participation in South Carolina Department of Commerce trade missions, major trade exhibitions, such as the Paris Air Show and involvement in US Commercial Service programs. It also finances export training and other export-related initiatives by the South Carolina Department of Commerce.
“More than 70% of the world’s purchasing power is located outside of the United States, so this grant is great news for South Carolina companies looking to find new revenue. The world wants what South Carolina companies are selling, and our team is excited to work closely with the SC Department of Commerce to help South Carolina companies grow their international sales,” said Dorette Coetsee, the South Carolina Director at the US Commercial Service.
Eligible companies may apply to participate in STEP from September 30, 2016 through September 29, 2017. Interested participants may learn more and apply online.