Louisiana has been awarded $160,000 from the U.S. Small Business Association’s State Trade Expansion Program to support the expansion of export activities among small businesses.
The SBA announced today that it has awarded roughly $19 million in STEP funding nationwide.
Louisiana’s award is accompanied by a nonfederal match of $53,333 for a total of $213,333 in STEP funding.
According to the SBA, the STEP award was created to advance key priorities identified in President Barack Obama’s National Export Initiative, such as making the export process possible for small businesses.
“Exporting provides tremendous opportunities for America’s small businesses and entrepreneurs,” says SBA Administrator Maria Contreras-Sweet in a statement. “Two-thirds of the world’s purchasing power can be found outside of the United States, but only about 1 percent of America’s 28 million small businesses are reaching customers beyond our borders.”
STEP awards are granted to U.S. states and territories. Forty-four awards were granted this year.
Read the full announcement. See the full list of Fiscal Year 2016 STEP award recipients.
