This grant provides partnership funds and access to global resources to Nevada’s small businesses that wisely look to exports for future sales growth and prosperity.
Reno, NV (PRWEB) October 04, 2011
The State of Nevada has received a $239,318 Small Business Administration (SBA) grant through the State Trade and Export Promotion (STEP) Pilot Grant Initiative. STEP aims to increase the number of small businesses exporting and to increase the value of exports for those small businesses currently exporting. In support of the President’s National Export Initiative, STEP disperses a two-year, $30 million annual appropriation targeted to double U.S. exports over the next five years and to give America a competitive edge in the global market. The State of Nevada Office of Economic Development (OED) will administer the grant throughout the state with the goal of filling Nevada’s export pipeline.
“This grant provides partnership funds and access to global resources to Nevada’s small businesses that wisely look to exports for future sales growth and prosperity,” said Nevada Governor Brian Sandoval. “Increasing our export activity will contribute to a brighter future for Nevada.”
Exports infuse nearly $6 billion into Nevada’s economy each year (OED). Over 400 exporters currently sell products to 175 countries and employ nearly 35,000 Nevadans. According to the SBA, nearly 96 percent of consumers and over two-thirds of the world’s purchasing power reside outside the United States. Small business reasons to export include: reduced dependence on the domestic market; diversified sources of revenue; extended sales potential and product shelf life of existing products; and stabilized seasonal markets and sales fluctuations.
“By learning how to leverage the economic power of exporting, small businesses will help get Nevadans working again,” said Steve Hill, interim executive director of the OED. “Nevada ranks first in export intensity growth according to the U.S. Chamber of Commerce. STEP will bolster that growth as well as a sense of pride, optimism and opportunity for Nevada’s small businesses.”
In the coming weeks, Governor Sandoval will announce Nevada’s program and detail how the small businesses can access grant resources. “Companies that have hesitated to explore global expansion due to economic uncertainty now have the education and the financial assistance to move forward and succeed,” said Sandoval. “This a great day for Nevada’s small businesses.”
Nevada companies who are interested in receiving information on the grant funds prior to the official launch may contact Brittany McLean at the OED at 800‐336‐1600.
About The Office of Economic Development
The State of Nevada Office of Economic Development (OED) was created by Assembly Bill 449, which passed during the 2011 Legislative session with bipartisan support. The OED is lead by the new Economic Development Board, which consists of eleven individuals from across Nevada who represent economic sectors targeted to diversify the state’s economy and to help get Nevadans working again. The primary role for the OED is to promote a robust, diversified and prosperous economy based on innovation, human ingenuity and sustainability. The OED manages statewide programs including national and international Business Development, Community Development Block Grants, Procurement Outreach and the Nevada Film Office. Visit http://www.diversifynevada.com or call 800‐336‐1600.
About the Small Business Administration
Every day, the U.S. Small Business Administration and its nationwide network of resource partners help millions of potential and existing small business owners start, grow and succeed. The SBA was created on July 30, 1953 with the signing of the Small Business Act and its function is to aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns. The Nevada SBA district has offices in Las Vegas and Reno. For more information about the SBA’s export programs that help businesses to get started or to expand current exports, contact David Leonard, 775-827-4923, david(dot)leonard(at)sba(dot)gov.