U.S. Small Business Administration Awards Funding to the Mississippi Development Authority for State Trade and Expansion Promotion Program
Jackson, Mississippi — October 3, 2018 — The U.S. Small Business Administration has awarded the Mississippi Development Authority $540,000 for the Mississippi State Trade and Expansion Promotion Program. The funds support Mississippi businesses interested in international trade.
“The STEP Program is a valuable resource for Mississippi companies seeking to increase their export operations,” Governor Phil Bryant said. “These funds will enhance the state’s efforts to assist Mississippi’s exporters in achieving success 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 reduces some of the financial obstacles qualifying businesses face when identifying export opportunities.
“The STEP Program is instrumental to Mississippi successfully increasing trade opportunities for the state’s businesses,” said MDA Executive Director Glenn McCullough, Jr. “To date, 2017 STEP funds awarded to Mississippi have assisted 62 companies as they participated in state-led global business development missions, which have resulted in more than $70 million in actual and projected sales. The SBA’s commitment to Mississippi enables the state’s companies to win in today’s global economy.”
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. The program also provides translation services at no cost, pre-arranged appointments with prospective qualified buyers, local transportation assistance and a customized trip itinerary.
Mississippi companies interested in learning more about the STEP Program should contact MDA’s International Trade Office at (601) 359-3155 or visit www.mississippi.org/existing-business/international-trade.