The STEP Grant :
AN SME ' S BEST EXPORT TOOL
By Nicole Gunkle and Amadine Crabtree , Washington Department of Commerce
For the 10th straight year , the Washington State Department of Commerce has received one of the largest State Trade Expansion Program ( STEP ) allocations from the U . S . Small Business Administration ( SBA ). The $ 2 million in grants will allow small businesses across the state to take their products and services into international markets , many for the first time .
Amandine Crabtree Aerospace International Trade Specialist
Nicole Gunkle Export Voucher Program Manager and Trade Specialist for consumer goods and professional services industry
The potential of the STEP grants cannot be underestimated . In year nine alone ( the year ending Sept . 30 , 2021 ), Commerce supported more than 570 companies , which reported increases in export sales , leads and brand awareness .
Washington State Department of Commerce https :// www . commerce . wa . gov
WA DEPT . OF COMMERCE
Washington State Department of Commerce https :// www . commerce . wa . gov
Given that 80 percent of the world ’ s purchasing power is outside the United States , small businesses that export are 17 percent more profitable than those that only sell domestically . Small business exporters are also more resilient during economic downturns due to the market diversification of their products .
36 NORTHWEST AEROSPACE NEWS