State Receives $704,000 from SBA To Increase Exports
By Sonia Isotov
The Hawaii State Department of Business, Economic Development and Tourism (DBEDT) has received a $703,505 grant from the State Trade and Export Promotion (STEP) program of the US Small Business Administration (SBA).
The STEP grant will be used to increase the number of local small businesses that want to export as well as the value of exports for those small businesses that currently export.
The Hawaii’s State Trade and Export Promotion Program, known as “HiSTEP,” is built on a multifaceted approach that begins with comprehensive export assistance, readiness, counseling and training that leads into a menu of targeted activities designed to generate new export sales for participating small businesses from key industry sectors.
The total budget for HiSTEP is $1,012.333. The state and its partners will provide the additional $308,828 in cash and in-kind services.
“HiSTEP will provide specialized resources designed specifically to enable eligible small Hawaii businesses to grow their export sales and enter new international markets,” said Richard Lim, the director of DBEDT, in a written statement.
“The primary goal of the program is to expand and elevate export-oriented programs throughout Hawaii.”
“SBA is partnering with the State of Hawaii to build the exporting capacity of more small businesses here in the State,” said Jane Sawyer, the district director for the SBA.
“HiSTEP’s multi-faceted approach will offer expanded resources, referrals and results to help many companies at different stages of international trade — from thinking about entry to a new market, to research and contacts to completing transactions.”