SBA awards Mo. $600K for small-business exports

The U.S. Small Business Administration awarded Missouri $599,000 in competitive funding to help small businesses increase exports.

Through SBA’s State Trade and Export Promotion Grant Program, the funding will be administered by the Missouri Department of Economic Development. Small businesses can apply for the grant funding to participate in foreign trade missions and market sales trips, U.S. Department of Commerce subscription services, foreign language translation technology, international marketing design materials, trade show exhibitions, and export and trade financing workshops, according to a news release.

The grants are designed to help Missouri businesses target customers in Central and South America, especially the countries of Colombia, Panama and Peru.

“Exports create jobs here at home, and with more than 95 percent of consumers located outside the U.S., helping Missouri businesses reach new customers around the globe has been a top priority of my administration,” Gov. Jay Nixon said in the release. “These funds will enhance our efforts to help Missouri businesses – especially small businesses – compete and win in the global economy.”

In 2012, 155 new-to-market Missouri businesses used $1 million in STEP program funding to conduct $26.4 million in export transactions, create 155 jobs and retain 670 workers, according to the release.

Businesses can apply for grant funding at ExportMissouri.Mo.gov.