DENVER — The U.S. Small Business Administration (SBA) has awarded the Colorado Office of Economic Development and International Trade (OEDIT) a $900,000 State Trade and Expansion Program (STEP) grant to promote international exports for small businesses. This is a $200,000 increase from OEDIT’s 2023 award, and the highest ever awarded to the state.
With this funding, the Global Business Development Division of OEDIT and the Colorado Department of Agriculture (CDA) will continue its work to help small businesses across Colorado participate in activities that promote international sales and trade. Last year, Colorado’s STEP award helped more than 50 small businesses across Colorado conduct international business development activities.
“This record level of funding is a testament to the success of Colorado’s State Trade Expansion Program, supporting small businesses to expand internationally. Small and medium-sized businesses generate nearly one-third of Colorado’s total exports of goods, and growing this type of international trade strengthens our economy, creates new jobs, and leads to higher wages for workers,” said Michelle Hadwiger, Director of OEDIT’s Global Business Development Division.
STEP funding is available to Colorado small business exporters to conduct international sales trips, attend international trade shows and develop websites or international marketing campaigns. Businesses can begin applying on October 1, 2024.
Through the STEP grant, OEDIT and CDA will participate in ten trade shows that connect Colorado small businesses to international buyers. The key industry programs include:
- Japan Aerospace Exhibition in Tokyo, Japan in October 2024
- Arab Health in Dubai, UAE in January 2025
- Mobile World Congress in Barcelona, Spain in March 2025
- PhilEnergy in Pasay City, Philippines in March 2025
- Hannover Messe in Hannover, Germany in March 2025
- ANTAD in Guadalajara, Mexico in March 2025
- IFE in London, England in March 2025
- National Restaurant Show, May 2025
- EXPHORE in San Jose, Costa Rica in August 2025
- America’s Food and Beverage Show, September 2025