SBA Awards Connecticut $200K for Small Business Export Grants

There is a new round of export grants available for Connecticut small businesses.

The U.S. Small Business Administration awarded $200,000 to Connecticut’s Department of Economic and Community Development through the State Trade Expansion Program. 

STEP is designed to increase the number of small businesses that export, increase the value of those exports, and increase the number of smaller firms that explore significant new trade opportunities. 

“We all know how exports help drive business growth and job creation,” said DECD Commissioner David Lehman. 

“With the help of the U.S. SBA STEP funding over the past decade, hundreds of Connecticut small businesses have been able to boost their presence in the global marketplace and tap into new trade opportunities as well.”

Connecticut commodity exports grew to $14.6 billion in 2021, but remain well below pre-pandemic levels.

Financial Support 

The SBA export grant program is intended to help small businesses overcome exporting obstacles. 

Grants can be used to cover the costs associated with entering and expanding into international markets. 

“It’s critical we level the playing field for small businesses.”

SBA’s Mike Vlacich

“With nearly 96% of consumers living outside the U.S. and two-thirds of the world’s purchasing power in foreign countries, it’s critical we level the playing field of opportunity for small businesses to access these potential customers and clients,” said SBA New England regional administrator Mike Vlacich.

Grants will be distributed on a first come, first served basis. 

SBA New England finance manager Joe Raycraft will host an information session for businesses interested in applying on Oct. 24, 2022 at 10 am in partnership with DECD and the U.S. Department of Commerce.