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August 26, 2015

Pennsylvania gets $700K grant for small business exports

Funds will go to trade missions, sales trips, trade show exhibits

Pennsylvania will receive a federal grant of almost $700,000 to aid in increasing small business exports, the Philadelphia Business Journal reported.

The grant, totaling $698,613, comes from the U.S. Small Business Administration's State Trade and Export Promotion (STEP) program.

The funds will help pay for various export-related initiatives, including trade missions, sales trips, export trade show exhibits, international marketing and training workshops.

One local business that has benefited from a STEP grant before is Helicopter Tech Inc., based in King of Prussia. The company used grant money to attend a trade show in Seoul, Korea, in 2005 and, since 2012, has gained more than $2 million in business from new Korean clients.