The Small Business Administration's State Trade Expansion Program (CRS Report for Congress)
| Release Date |
Revised Oct. 7, 2024 |
| Report Number |
IF12149 |
| Report Type |
In Focus |
| Authors |
Adam G. Levin |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
American small businesses regularly export to international
markets, contributing to both domestic and global
economies by trading with approximately 95% of the world
population living outside the United States. But due to
factors such as lack of experience or resources, some small
businesses may encounter initial challenges breaking into or
expanding their operations in foreign countries. Starting in
2011, the Small Business Administration’s (SBA’s) State
Trade Expansion Program (STEP) has helped address these
hurdles by offering competitive grants for projects that help
eligible small business concerns (ESBCs) build their export
activities. STEP awards are one of several SBA programs to
promote small business exports. While other programs offer
loans and management and training assistance, STEP is
unique in that it offers grants.
STEP awards provide funding for a two-year period. For
FY2024, the grants offered ranged from $100,000 to
$900,000. In FY2024, SBA made 43 STEP awards totaling
$20 million. The program has three specific goals:
• increase the number of small businesses exporting;
• increase the dollar value of U.S. small business exports;
and
• increase the number of small businesses exploring
significant new trade opportunities, which includes both
new export opportunities and expansions.
