SBA names Ohio Department of Development as 2023 State Trade Expansion Program awardee
The U.S. Small Business Administration recently announced Ohio will receive $400,000 through the SBA’s State Trade Expansion Program (STEP) grant program to support small business export growth statewide.
Ohio’s allocation is a portion of the $20 million in funding awarded to state international trade agencies throughout the country via a competitive application process.
Locally, the Ohio Department of Development will administer these funds to help provide small businesses with the information and tools they need to succeed in export-related activities. Exporting activities include participating in foreign trade missions, market sales trips, designing international marketing campaigns, participating in export trade show exhibits and attending training workshops, as well as other important means of engagement.
“Ohio has a reputation around the world for excellence in products and workmanship, and we’re excited to continue to support Ohio’s small business export initiatives through the SBA STEP grant,” said Lydia Mihalik, Director of the Ohio Department of Development. “This program has benefited so many Ohio businesses by assisting them to expand their reach and sustain success through exports, like Hartzell Hardwoods, which was recently awarded the SBA Great Lakes Region Exporter of the Year.”
Hartzell Hardwoods in Piqua, long recognized as a worldwide leader in walnut and top-quality thick lumber, has been an innovator and leader of the hardwood industry since 1865. The company’s team received more than 90 hours of counseling, trainings and research assistance from the Ohio Department of Development’s Small Business Development Center Export Assistance Network to help expand their global reach.
Director Mihalik visited Hartzell Hardwoods in May and congratulated the team on their being awarded the SBA Great Lakes Region Exporter of the Year and presented officials with a commendation from Governor Mike DeWine and Lt. Governor Jon Husted during Small Business Week.
Development will use this STEP funding primarily to support Ohio small businesses and provide financial assistance for businesses promoting their products and services internationally through the Export Training Grant and the International Market Access Grant for Exporters (IMAGE) program.
The IMAGE program provides grant funds to eligible businesses to engage in eligible export promotion activities. Companies can access up to $10,000 in 2024 grant year funds on a 50-percent reimbursement basis. For details about the IMAGE program and to apply for grant funds, visit the Ohio Department of Development’s IMAGE webpage.
The STEP funding will also be used to:
• Assist with educational opportunities for companies who are new to export or may be looking for new ways to maximize international opportunities.
• Provide necessary assistance to alleviate some of the financial burden small businesses incur by selling internationally.
• Provide state-sponsored booths at some of the largest international trade shows and work with partners on trade missions around the world.
• Recruit for the State of Ohio booth at Arab Health 2024 in Dubai, UAE from Jan. 29-Feb. 2.
This year marks the 70th year the Small Business Administration has supported American corporations. On this occasion, we celebrate the aid the SBA has provided including 11 years of STEP funding, which has awarded over $235 million. Since 95 percent of the world's consumers and two-thirds of all purchasing power are located outside the United States, this grant program plays a critical role in providing access to capital, access to markets and access to buyers.
For additional information about the STEP program, visit www.SBA.gov/STEP. To learn more about Development’s IMAGE program and the specific offerings, visit https://development.ohio.gov/business/export-assistance/international-m….