SBA Funding $871K in Grants to Ohio Exporters
COLUMBUS, Ohio – The Small Business Administration is making $871,733 available to Ohio businesses to help them expand their exporting operations.
Through the SBA’s State Trade Expansion Program, the Ohio Development Services Agency will award the grants to small businesses. A full list of eligible uses – ranging from e-commerce to international marketing to trade shows – is available at Image.development.ohio.gov, along with an application.
“SBA’s State Trade Expansion Program has been a critical resource for states to help their small businesses and entrepreneurs expand into international markets,” SBA Great Lakes regional administrator Rob Scott said in a statement. “This is important because small businesses that export can grow revenue, contributing to a higher likelihood of them staying in business and strengthening local economies with job creation, especially in challenging times like this, as 95% of the world’s consumers are beyond U.S. borders.”
Created in 2010, the State Trade Expansion Program has awarded $176 million in grant funds nationwide and resulted in $3.8 billion in exports.
In Ohio, the program is managed by the Development Services Agency’s International Market Access Grant for Exporters program.
“Ohio products and services are sought throughout the world. In 2019, Ohio companies had $53 billion worth of international sales,” said Lydia Mihalik, director of the Ohio Development Services Agency. “The Image program, which is funded through the STEP award, is key to this success and continues to help Ohio small businesses compete in the global marketplace.”
The deadline to apply for the grants is 3 p.m. Dec. 11.
Published by The Business Journal, Youngstown, Ohio.