SBA Awards $600K to California GO-Biz for Supporting Small Businesses to Boost Exports

By: Sharjeel Sohaib

β€’ 

Sep 24, 2022

 β€’ 

SBA GoBiz

Utilize Our Platform

The State Trade Expansion Program (STEP), a federally funded grant program that aims to increase export activities among small businesses, has awarded a grant totaling $600,000 to the Governor’s Office of Business and Economic Development (GO-Biz). 

By paying for different expenditures related to entering and growing into foreign markets, the STEP program has assisted hundreds of small businesses throughout California in obtaining grants and finding clients in the worldwide economy.

Key Takeaway

  • According to a statement from the U.S. Small Business Administration (SBA), the STEP program has funded $600k to Go-Biz. The GO-Biz International Affairs and Trade team will exclusively supervise and manage the California STEP award for the first time.
  • The State of California has received around $8.5 million in STEP money since the program’s start in 2011.

We Covered this in our Weekly Wire Roundup

Role of STEP in the Betterment of Small Businesses

Through STEP, more than 1,200 small firms in California have engaged in international commerce over the past ten years, resulting in export sales of more than $85 million, demonstrating the economic resilience that exporting can foster. 

Enterprises that export increase their revenues more quickly, add more employees, and give their employees higher wages than non-exporting businesses.Β 

STEP management is eager to collaborate with its partners from throughout the state to guarantee that these advantages are provided to even more California small companies, especially those that have traditionally had difficulty accessing economic opportunity, with the help of this new round of STEP financing.

IECE, a STEP Partner 

We also reported about one of STEM’s partners, IECE. The Citi Foundation has awarded $500K to The Inland Empire Center for Entrepreneurship (IECE) of California State University, San Bernardino (CSUSB), to help local Black, Indigenous, and People of Color (BIPOC) entrepreneurs and small businesses. 

One of the STEP partners for Inland Southern California is IECE at CSUSB.

The California State Trade Expansion Program (STEP) assists small businesses, in the beginning, to export and helps companies expand by exporting into new markets. It also supports qualified small businesses to participate in International trade shows, trade missions, and other export promotion activities.

Read here: The Citi Foundation Awards $500K to The Inland Empire Center for Entrepreneurship (IECE)

Go-Biz’s Initiative to Strengthen Military Space Industries

We also reported about the new Task Force for the Space Industry launched by GO-Biz (Governor’s Office of Business and Economic Development). 

With the creation of this new Task Force, California, a world leader in aerospace and sophisticated manufacturing, will look for ways to strengthen its position and capitalize on potential future development in the commercial and military space industries. 

Governor Newsom Announces Space Industry Task Force: California GO-Biz Director Picked to Lead it.

Startempire Wire | Sep, 2023

Wrap Up!

The Small Business Administration (SBA) has awarded $600,000 in loans to California GO-Biz, a nonprofit trade association that helps small businesses export.

The money will support an initiative to help small businesses in the state’s different industries sell their products and services overseas. The project is designed to increase exports by assisting small companies in performing better. 

0 Comments

Submit a Comment

Connecting you with the best startups, people & events in the Inland Empire.

Support Startup News & Media!


Enjoying the startup news & media? Support us!

We have big plans, and we need your help!

Startempire Wire is a community of people working together to promote innovation, entrepreneurship, and investment in the Inland Empire. We provide resources and connect people with the startup culture.

We believe that the Inland Empire has all of the ingredients for success. This region just needs a platform to show the world what it can do – And this is exactly what Startempirewire.com is doing. Our goal is to act as a megaphone to connect the dots between the best startups, events, and people in the Inland Empire.

We have big plans, and we need your help! If you are passionate about creating a thriving local startup ecosystem, then we would like to invite you to join in contributing to the community by supporting us. You can do that by supporting us financially or by being an active contributor. In return, we will give you (depending on sponsorship level) free access to our content, other level based perks &Β  the opportunity to connect with a network of passionate people working to build a better future for all of us.

We cover the good and the bad of entrepreneurship, startups & business events; we do it with passion and purpose. If you like what we do, support us & please consider becoming a patron. Your support is essential for independent local startup media to survive & thrive.

You can make a regular one time donation to become a sponsor at any level, or you can choose to become a monthly or event sponsor.Β  Every little bit counts! Thank You

Verious B. Smith III

Founder, Startempire Wire

Related Articles

Economic Growth in the Inland Empire: The IECE and Beyond

Economic Growth in the Inland Empire: The IECE and Beyond

The Inland Empire Center for Entrepreneurship (IECE) at California State University, San Bernardino (CSUSB), published its 2022 Impact Report. We look at the economic impact of IECE and what other organizations have done to drive economic growth in the Inland Empire...

Stay Up On Startempire News

Access Premium Content

Startempire Wire premium content access is free during the beta period of ourΒ  website.Β  Join during beta and get a grandfathered discount when we launch.

$5 for first month then $15 per month

Get Every Update

Would you like to receive Startempire Wire updates in your inbox? Subscribe below!

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Follow Us

Follow Startempire Wire on other social media channels.

0
My cart
Your cart is empty.

Looks like you haven't made a choice yet.