This week marks the 10th Annual Global Entrepreneurship Week. In our connected world, it’s essential for American small businesses to compete internationally. With 96% of the world’s population living outside the United States, there’s a vast market waiting for them.
As demand for high-quality American products grows, we’re dedicated to giving small businesses the tools they need to seize opportunities in foreign markets. The SBA’s Office of International Trade has been proactive in ensuring our programs provide support tailored for a changing global market.
Many small business owners are interested in exporting but often don’t know where to start. To address this, we’ve made international counseling more accessible by certifying counselors within the Small Business Development Center network with the Certified Global Business Professional (CGBP) accreditation. If you’re ready to draft your international business plan, visit your local SBDC for guidance on going global.
Once you’re prepared to enter foreign markets, the SBA’s Office of International Trade offers financial assistance through matching awards and guaranteed loans. In October 2017, the State Trade Expansion Program (STEP) awarded $18 million to support small business trade growth across the U.S. With a STEP award, you can learn about exporting, join foreign trade missions and shows, get services to help with foreign market entry, develop websites to attract international buyers, and create marketing products or campaigns for global markets.
SBA’s export loan programs also provide crucial support by funding short-term export trade cycles, offering long-term financing for manufacturing expansion to meet export demands, and furnishing short-term financing to help businesses connect with international buyers. In collaboration with the U.S. Department of Commerce, the Export-Import Bank, 21 trade finance specialists in U.S. Export Assistance Centers, and various private partners, we’re here to assist global entrepreneurs at every growth stage.
The U.S. Small Business Administration is committed to supporting America’s innovators and entrepreneurs, helping them stay competitive in a 21st-century global economy. At the SBA, we’re dedicated to enabling more Americans to join the middle class through entrepreneurship, fostering an economy of strong, growing small businesses ready to succeed.
