The U.S. Small Business Administration had awarded $268,096 in grants to the Delaware Department of State to assist small companies in developing overseas markets.
The STEP Grant program seeks to increase the number of U.S. small businesses that export and increase the value of those exports. Delaware will match the SBA grant with $89,365, bringing the total available for export efforts to $357,461.
A large portion of the grant will directly reimburse small- and medium-sized companies for pre-approved export expenses, which could include international travel, trade show activities, international marketing materials and interpreters.
Companies that have participated in the program in previous years report $16 million in new export sales, and project over $109 million in additional export sales in the next two years.
“The STEP Grant funds from the SBA make our strategic export program possible. It’s proven to be a tremendous asset to our small businesses and a significant new source of growth for Delaware’s economy,” said Delaware Secretary of State Jeffrey Bullock.
Export Delaware, the state’s official export resource for small businesses, will use the grant to finance export-related marketing activities. Delaware small businesses that are interested in applying may learn more about the program at [export.delaware.gov]export.delaware.gov.
This year, Export Delaware is offering business trips to Colombia, Ireland and the UK, Australia, Southeast Asia and South Korea. These trade missions are designed specifically for Delaware small businesspersons, and provide the opportunity for them to meet one-on-one with potential customers and distributors overseas.
“We are excited to continue to build upon our past success and continue to support Delaware’s small businesses as they grow through exporting,” said Beth Pomper, director of Export Delaware.