S.C. Department of Commerce awarded grant to support export assistance programs

State of South Carolina receives U.S. Small Business Administration grant for eighth year

The S.C. Department of Commerce has been awarded a State Trade Expansion Program (STEP) grant from the U.S. Small Business Administration (SBA) for the eighth year. This program is designed to support and encourage small business export success. The state was awarded its full requested amount of $360,400.

“This is now nine consecutive years the Palmetto State has had a record year in total export sales. We understand that tremendous opportunities exist for our companies overseas,” said Secretary of Commerce Bobby Hitt. “And, we are grateful to the U.S. Small Business Administration for once again awarding our great state with this grant, which will allow us to support South Carolina businesses seeking to expand their reach to new markets around the globe.”

An essential component of the state’s economic development efforts, S.C. Commerce continues to expand its export initiatives. In 2014, in an effort to build on the success of its own STEP program, the agency created South Carolina Opportunities for Promoting Exports, or SCOPE. Over the last seven years, these two programs have generated more than $123 million in export sales, helping South Carolina companies sell products to 63 countries around the world.

“More than 84 percent of businesses that export in South Carolina are small businesses, and they account for 11.2% of South Carolina’s exports,” said Gregg White, district director for the SBA South Carolina District Office. “The S.C. Department of Commerce has been very successful in using the SBA STEP Grant to support small businesses that wish to tap into foreign markets. We are excited to see more successful small business exporters, like Boyd Cycling, come from this program.”

Projected to help more than 49 small and medium-sized businesses seize export opportunities this year, the grant funding reimburses a portion of business participation in upcoming S.C. Commerce trade missions to Australia, Taiwan, South Africa, Tanzania, Canada; major trade exhibitions, such as METS, MEDICA, Farnborough, IBEX and, involvement in U.S. Commercial Service programs, such as Trade Winds.

“We at the Commercial Service are excited to support the state to continue to help companies, especially small and medium-sized enterprises, diversify their markets, grow their supply chains and create jobs for South Carolinians,” said South Carolina Director for the U.S. Commercial Service Dorette Coetsee.

S.C. Commerce also provides a variety of other programs and services, including assisting both new and experienced exporters with on-site counseling, developing market entry strategies, administering export training and connecting companies with appropriate partners and resources. For more information on S.C. Commerce’s export assistance program, click here.

About S.C. Department of Commerce

As South Carolina’s leading economic development agency, the Department of Commerce works to recruit new businesses and help existing business grow. S.C. Commerce has recruited world-class companies to South Carolina such as BMW, Boeing, Continental, Giti Tire, LPL Financial Holdings, Mercedes-Benz Vans, Samsung, Toray and Volvo Cars and also supports startups, small and existing business, innovation and rural development initiatives. S.C. Commerce partners with the S.C. Technical College System via readySC to support workforce training and recruiting, and with the S.C. Department of Employment and Workforce, which provides worker training and employment opportunities within the state. With a strong international footprint, the Palmetto State was among the top in the nation for attracting jobs through foreign investment on a per capita basis in 2018 – extending its streak of top five finishes since 2011. Additionally, in five of seven years, the state has won the Gold Shovel Award from Area Development magazine; and, in 2017, the state was recognized as Business Facilities’ State of the Year. For more information, visit www.SCcommerce.com.