of the Washington State Pavilion at industry trade shows underscores the philosophy that there is strength in numbers.
Companies can qualify for three STEP vouchers per federal fiscal year( October to September) and up to $ 10,000 to offset expansion costs. Every year, STEP makes international expansion pencil out for an array of Washington-based companies.
AND THE MOST SURPRISING THING HE LEARNED ALONG THE WAY?
“ Honestly, the biggest surprise I learned was that it’ s OK to ask for help.” Rich said.“ As a small, locally-driven business, stepping into the globally-driven market felt a bit daunting. Especially with the financial hurdles involved.”
Today, it’ s no surprise that Washington State is part of a global marketplace.“ Demand for our products exists around the world,” Rich said.“ We can meet with prospective customers via video conference calls, but there’ s still something organic about being face-to-face and getting to know a customer and their needs, wants, and demands. You can’ t develop that real core relationship without seeing the customer in person. Putting a face and handshake together is invaluable.”
“ That conversation at AIX sparked a deeper dive into understanding the STEP grant program, even though I was skeptical, at first,” Rich said.“ I think being skeptical is part of being a responsible business owner. But I also knew we had to take some calculated risks if we wanted to grow.”
From the conversations that started at AIX, Rich applied for the STEP grant to offset Sealth’ s expenses to attend the 2024 AIX show.
“ It was a completely chance encounter, but one that’ s had a truly positive and lasting impact on our business,” he said.“ Commerce has done an outstanding job helping us connect with international customers. For a small business like ours, making those connections on our own would be incredibly difficult.”
SPEAKING OF SERENDIPITY
STEP grants helped make international expansion possible for Sealth, proving the notion of remaining open to opportunities during times of great change. A receptive nature leads to the development of events by chance in a happy or beneficial way. In other words, serendipity.
RICH OLSON’ S( SPOT-ON) OBSERVATIONS OVERSEAS MARKET EXPANSION:
• Tread carefully and be realistic.
• Understand your market, your product, your capacity, and your long-term goals.
• Growth isn’ t right for every business at every moment.
• If the timing is right, expanding internationally can create long-term stability— not just for your business, butbut also for your local community through job creation and increased economic activity.
48 NORTHWEST AEROSPACE NEWS