SBA Georgia Announces FY 2020 State Trade Expansion Program
SBA Awards Georgia $162,488 to Expand Small Business Exporting
ATLANTA – U.S. Small Business Administration (SBA) announced that $162,488 has been awarded to the Georgia Department of Economic Development, which successfully competed for funding to support export growth among small businesses through SBA’s competitive State Trade Expansion Program (STEP).
“The SBA is committed to assisting small businesses to enter and prosper in the global marketplace,” said Loretta Greene, Associate Administrator for SBA’s Office of International Trade. “Through SBA’s STEP awards, states provide small businesses with the critical funding they need to thrive internationally while creating jobs and strengthening their communities.”
A total of 15,010 firms exported goods from Georgia in 2018. Of these, 13,195, or 87.9 percent, were small firms, which generated 26.4 percent of Georgia’s $37.6 billion in total exports.
“We are elated that Georgia’s Department of Economic Development will be working with STEP to support Georgia’s small business exporters,” said Terri Denison, SBA Georgia District Office Director. “We look forward to the collaboration.”
The opportunities for small businesses to grow by exporting are substantial, especially during this unprecedented time. The COVID-19 pandemic has resulted in a paradigm shift to increased web-based sales and virtual trade missions to reach 95 percent of the world’s