Iowa receives $190,000 for small business export assistance
Iowa will receive $190,000 through a U.S. Small Business Administration program designed to support activities to increase exporting by small businesses. The State Trade and Export Promotion (STEP) program award is part of $17.4 million awarded to 40 states and territories announced Monday by the SBA. The purpose of the 2015 awards is for states to assist small businesses with export-related activities or other export initiatives such as participation in foreign trade missions, foreign market sales trips, subscription services provided by the U.S. Department of Commerce, as well as design of international marketing campaigns, export trade show exhibits, training workshops and more. Fewer than 1 percent of small businesses export; of those that do, 58 percent of them export to only one country, according to the SBA. For more information about the state’s Export Trade Assistance Program, click here.