Nebraska small businesses will be given a boost in their efforts to export their goods.
The Small Business Administration announced today it is making an extra $300,000 available through its STEP program, the State Trade and Export Promotion program, to Nebraska small businesses.
Gov. Pete Ricketts said during a ceremony in Lincoln the SBA money will complement the work of the state Department of Economic Development to expand exports.
“Helping small business expand their business opportunities overseas is one of the great ways that we can not only grow those companies, but grow Nebraska and create those jobs right here in our state that keeps our kids and grandkids here and helps attract people from around the country to come and make Nebraska their home,” Ricketts said.
The STEP Grant program has been in effect for three years. Sixty-two Nebraska companies have used the grants to generate $30 million in increased exports.
Small Business Administration Regional Administrator Patricia Brown-Dixon said increasing exports is a key to business growth.
“And we keep saying, because it’s so true, that 95% of the world’s customers are outside of the U.S. borders,” Brown-Dixon said. “So, that is why we’re trying to get all small businesses to think more globally.”
Brown-Dixon says three challenges face any small business seeking to export its goods: access to information, enough capital, and the right marketing strategy.