Want to increase your bottom line? Think about increasing your international footprint. Businesses that sell abroad tend to make more sales, employ more people, and grow at higher rates. Plus, nearly 98% of all U.S. companies that export are small and medium-sized businesses. May is World Trade Month, and there’s no better time than now to go global.
Don’t know where to start? That’s where the SBA’s Office of International Trade steps in. We, along with other federal government agencies, are an important provider of tools and services to take your business global.
We provide access to capital to fund your international sales. In fact, last year the SBA guaranteed $856 million in financing to small business exporters that supported more than $3 billion in export sales.
We also provide grants through the State Trade Expansion Program (STEP). STEP has helped thousands of small businesses obtain grants and find customers in the international marketplace since 2011. Through awards to U.S. states and territories, STEP helps small businesses overcome obstacles to exporting by covering some costs associated with entering and expanding into international markets.
OIT also advocates for small business in the U.S. trade policy development process and in trade negotiations. Additionally, we provide counseling and advice to U.S. small businesses who want to learn more about international trade and who are confronting barriers in their trade journey. We have a website that is a one-stop shop for small businesses interested in international trade and connects small businesses not just to SBA resources, but also resources at other federal agencies, as well as state and local resources.
In addition, we have an International Trade Hotline (international@sba.gov; 855-722-4877) that helps small businesses in their trade journey. We help U.S. small businesses facing barriers in accessing international markets and put them in touch with resources in the U.S. to help them. We answer questions related to both exports and imports.
We’re ready when you are to take your business to the next level. Reach out to one of our SBA staff at U.S. Export Assistance Centers now. Even beyond May, we still will be ready year-round to assist all American-made products and services looking to expand your endeavors overseas.