SBA awards Chafee Center $150K to support small-businesses exporting

SMITHFIELD – The John H. Chafee Center for International Business at Bryant University on Wednesday received a $150,000 grant from the U.S. Small Business Administration under the State Trade Expansion Program.

“The Chafee Center has an outstanding track record with utilizing STEP funding to help small businesses in Rhode Island expand their reach internationally,” said SBA District Director Mark S. Hayward.  “This round of funding from STEP will allow the center to expand its reach to even more local businesses and help them grow our state and national economies.”

The funds will help the Chafee Center provide small businesses with the information and tools they need to succeed in export-related activities, including participating in foreign trade missions, market sales trips, designing international marketing campaigns, participating in export trade show exhibits and attending training workshops, as well as other important means of engagement.

“With nearly 95% of the world’s consumers and two-thirds of all purchasing power located outside of the United States, it is critical that we give small businesses the tools and support they need to access this market,” said SBA Region 2 and acting Region 1, Regional Administrator Marlene Cintron. “Thanks to this federal funding, the Chafee Center is able to support new and existing small business exporters, increase sales and expand markets through SBA’s State Trade Expansion Program.”

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The funding is part of the $20 million in total grant assistance that the SBA is awarding to state international trade agencies throughout the U.S. via the State Trade Expansion Program.