State gets grant to boost small-business export opportunities

DENVER — A state economic-development office will use $195,938 in federal grant money to help small businesses enter and compete in the global marketplace.

The grant to the Colorado Office of Economic Development and International Trade from the Small Business Administration’s State Trade and Export Promotion (STEP) program is one of 40 awards totaling $17.4 million being disbursed to states and territories to help small businesses increase their export trade.

“We are excited to be working with the Small Business Administration in executing our STEP-funded programs and services to help Colorado’s small businesses realize international sales,” said Sandi Moilanen, who directs OEDIT’s international division. “Our program targets key industries for Colorado and provides multiple ways for our small business community to reach international buyers.”

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The federal program’s objectives include participation in foreign trade missions, foreign market sales trips and subscription services provided by the U.S. Department of Commerce, as well as design of international marketing campaigns, export trade show exhibits and training workshops.

According to SBA figures, recipients in the first two rounds of STEP awards, in fiscal years 2011 and 2012, reported an average return of more than 19-to-1. According to OEDIT, the state of Colorado has received awards for each of these years and has a return on investment of 102-to-1 for the STEP-funded programs.

OEDIT will use STEP award funds in several ways, said Stacy Feeney, OEDIT’s international outreach manager who coordinates the grants.

OEDIT will provide training in doing business in international markets through courses offered by World Trade Center Denver, she said, and employees can attend those courses at no charge.

Colorado companies may apply for reimbursement stipends to travel to four identified trade shows – two in the food and agriculture industry, one in bioscience and one in outdoor recreation. “We anticipate five to 10 companies will attend each of these trade shows,” she said, and “applications will be made available approximately three months before the show.”

The shows include ISPO Munich, the largest European outdoor-recreation exhibition, planned for Jan. 24-27; the ANTAD Expo retail food show March 16-18 in Guadalajara, Mexico; the National Restaurant Association trade show May 22-23 in Chicago, for supplying specialized beverages for international restaurants; and Arab Lab 2016 in Dubai, United Arab Emirates, a trade show for laboratory science and instrumentation to be held March 20-23.

For companies that operate in industries outside of those mentioned above, the same reimbursement stipends are available for travel to trade shows on an individual basis.

All grants will be less than $10,000, and companies must meet SBA eligibility requirements, Feeney said. The grant funding will become available to OEDIT on Oct. 1, the first day of the federal fiscal year, and the program will end on Sept. 29, 2016, the last day of that fiscal year.

Companies interested in participating should contact Feeney at stacy.feeney@state.co.us or 303-892-3858. More information on the STEP program and fiscal year 2015 awardees is on the Small Business Administration’s website.