AL Department of Commerce awarded $450,000 from SBA in State Trade Expansion Program

The Alabama Department of Commerce was granted $450,000 by the U.S. Small Business Administration (SBA) as part of its $20 million State Trade Expansion Program or STEP grants being awarded to 43 state and territory international trade agencies. 

Small businesses are invited to submit applications as funding will become available on Sept. 30. 

“With 95% of the world’s consumers based outside of the United States, our small businesses need access to markets abroad to grow and create good jobs in America. Through SBA’s STEP funding to states, small businesses can get grants to export to new markets and grow their revenues through marketing, trade missions and more,” said SBA Administrator Isabel Casillas Guzman.

“STEP delivers against the Biden-Harris Administration’s efforts to increase exports and helps ensure that we can strengthen our small businesses, ensure our economy is more resilient and increase our global competitiveness."

The award to the Alabama Department of Commerce is a $200,000 increase from 2023. 

“We are excited about this significant increase over last year’s grant,” said Tom Todt, Alabama District Director. “I think it underscores the great job that the Alabama Department of Commerce Office of International Trade does in assisting small businesses to prepare for export, opening up potentially vast new markets for them. Of the 4,247 identified firms exporting goods (worth $20.3 billion from Alabama in 2021), 3,410—or 80.3 percent—were small. We would definitely like to see those numbers increase.”

It is hoped that funding will support small businesses in export-related activities such as participating in foreign trade missions and market sales trips, designing international marketing campaigns, participating in export trade show exhibits, and attending training workshops.

For more information, visit www.sba.gov/STEP.