STEP up export game with Small Business Administration

Ninety-six percent of the world’s consumers live outside of the United States and represent two-thirds of the world’s purchasing power.

  • BY Wire Service
  • Monday, September 21, 2015 2:32am
  • Business

Ninety-six percent of the world’s consumers live outside of the United States and represent two-thirds of the world’s purchasing power.

Local companies that export enjoy business success with increased sales and profit potential. Exporting also helps businesses weather downturns in our economy by being prepared to respond to foreign competition and global market trends.

Exports have been a key driver in our local economic comeback. Exports support 25 percent of local jobs, and contributed one-third of our nation’s annual growth between 2009 and 2013. In other words, with exports comes opportunity. Partnering with the SBA can help local small businesses enter and compete in the global marketplace.

SBA’s State Trade and Export Promotion (STEP) program allows states to assist small businesses with export-related activities or other export initiatives. Recently, SBA announced the FY 2015 STEP Awards, providing $747,300 to promote small business exporting in Washington. STEP will unlock capital for local small businesses to keep them competitive in the 21st century global marketplace.

To learn more about how you can export with the SBA, visit www.sba.gov/exporting.

 


Talk to us

Please share your story tips by emailing editor@covingtonreporter.com.

To share your opinion for publication, submit a letter through our website https://www.covingtonreporter.com/submit-letter/. Include your name, address and daytime phone number. (We’ll only publish your name and hometown.) Please keep letters to 300 words or less.

More in Business

A heatmap showing the inclusivity of each state, which is based on the total Business Climate Score. The green states are the most inclusive, while the red are least inclusive; yellow and orange fall in the middle. Courtesy of Out Leadership.
Washington ranks 13th in State LGBTQ+ Business Climate Index

Washington’s lowest score was 13 out of 20 points in the Work Environment and Employment section.

Robert Toomey, CFA/CFP, is Vice President of Research for S. R. Schill & Associates on Mercer Island.
Volatility and disciplined planning in 2022’s stock market | Guest column

The stock market in January experienced significantly increased volatility. In the first… Continue reading

Snoqualmie Casino. Courtesy photo
Kirkland-based company sues to challenge ‘tribal gaming monopoly’ in Washington

Company called the state’s policy an “erroneous application of the Indian Gaming Regulatory Act.”

Robert Toomey, CFA/CFP, is Vice President of Research for S. R. Schill & Associates on Mercer Island.
The forces behind our current COVID-induced inflation | Guest column

Recent inflation numbers have been quite high and at levels not seen… Continue reading

Teaser
Best of Covington 2021 winners announced

Categories range from People, Restaurants, Services and Shopping.

Robert Toomey, CFA/CFP, is Vice President of Research for S. R. Schill & Associates on Mercer Island.
The ‘year end’ elements of financial planning | Guest column

With the end of the year fast approaching, we remind clients that… Continue reading

Robert Toomey, CFA/CFP, is Vice President of Research for S. R. Schill & Associates on Mercer Island.
How financial planners address plan uncertainty | Guest column

One of the key challenges we face as financial planners is dealing… Continue reading

t
Nana’s Southern Kitchen opens Covington location

Restaurant started in Kent in 2019

Robert Toomey, CFA/CFP, is Vice President of Research for S. R. Schill & Associates on Mercer Island.
Is cryptocurrency really an investment? | Guest column

Undoubtedly you have heard about the new form of money known as… Continue reading

Stock photo
Grocery store workers have right to wear Black Lives Matter buttons

National Labor Relations Board ruling against ban by Kroger-owned QFC, Fred Meyer

A Darigold dairy worker practices picketing as a strike is approved by the union. Photo courtesy of Julia Issa
Puget Sound Darigold workers on verge of strike amid contract negotiations

Workers cite lack of medical leave, outsourcing and bad-faith negotiations as reason for strike.