U.S. Small Business Administration Awards Mississippi Development Authority Funding for State Trade and Export Promotion Program
Jackson, Mississippi — November 10, 2016— The U.S. Small Business Administration has awarded Mississippi Development Authority $509,760 for the Mississippi State Trade and Export Promotion Program to support Mississippi businesses interested in international trade.
“This latest round of STEP funding further enhances and highlights Mississippi’s overall export operations and ongoing achievements in international trade,” Governor Phil Bryant said. “The funds will bolster Mississippi’s award-winning ability to assist the state’s exporters in the global marketplace.”
The STEP Program allows MDA to provide financial and technical assistance to small- and medium-sized Mississippi companies interested in growing their business through trade. Administered by MDA’s International Trade Office, the program helps reduce some of the financial obstacles qualifying businesses face when identifying export opportunities.
“The STEP Program is an essential component of Mississippi’s efforts to increase the competitiveness of the state’s companies around the world,” said MDA Executive Director Glenn McCullough, Jr. “Last year, 76 Mississippi businesses participated in STEP-sponsored business development missions and events resulting in more than $90 million in sales in more than 30 countries. We appreciate SBA’s continued support of Mississippi companies competing and winning in the global marketplace.”
The STEP Program helps offset certain costs related to participating in trade missions and other international business development activities. The program reimburses eligible businesses up to 50 percent of their travel costs, including airfare and lodging. The program also provides translation services at no cost, pre-arranged appointments with prospective qualified buyers, local transportation assistance and a customized trip itinerary.