SBA Grant Program To Promote Exporting Among Small Businesses
Written by Jenna Weiner
SBA announces grants to small businesses looking to enter exporting arena.
As part of the Obama administration's effort to double U.S. exports by 2015, the U.S. Small Business Administration recently announced that it would be allocating millions of dollars in grants to small businesses.
This comes as welcome financial news for entrepreneurs that, without the advantages of large corporations, have been daunted by the prospect of going global, Commerce Secretary Gary Locke recently said, according to the Wall Street Journal.
Known as the State Trade and Export Promotion pilot grant initiative, the program will distribute $90 million - $30 million per year over the course of three years - with the goals of increasing the number of small businesses exporting and increasing the value of exports for those who already do.
"The global market offers countless opportunities for small business owners who are well positioned to grow their volume and customer base beyond our borders, and in doing so, create good-paying jobs in their local communities," SBA Administrator Karen Mills said.
The program was authorized by last fall's Small Business Jobs Act.
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