SBA awards Nevada $250K to expand small businesses into international markets
CARSON CITY, Nev. — Last week, the U.S. Small Business Administration announced it had awarded Nevada more than $250,000 to help small businesses expand their reach into new markets around the world.
According to press releases from both SBA and the Nevada Governor’s Office of Economic Development, GOED uses the funding through the SBA’s competitive State Trade Expansion Program (STEP) grant to help Nevada small businesses pay for export-related expenses.
Since 2011, GOED has reportedly received roughly $1.5 million in STEP grant funding.
SBA’s announcement last week of $257,914 to GOED is more than double the $125,000 Nevada was awarded last year.
“At the heart of Nevada’s economy are our small businesses and supporting their expansion into foreign markets will nurture their success,” Gov. Sisolak said in a statement. “More than 480,000 Nevadans are employed by a small business. Nevada’s economy is stronger and more resilient because of the success of small businesses.”
According to the GOED news release, the agency has helped fund the export development activities for 13 small businesses with $90,000 in awards that is expected to help them generate more than $3 million in foreign sales.
Small businesses from Elko to Boulder City to Henderson to Las Vegas have benefited from this program.
For more information about the Nevada GOED’s STEP grants or to apply, visit diversifynevada.com. The STEP program is funded, in part, through a grant with thee SBA.
The U.S. Small Business Administration’s Office of International Trade administers the STEP awards at the national level.
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