Exporting and Growth for Small Businesses

Exporting and Growth for Small Businesses

Using globalEDGE, the Capella library, or both sources, identify and briefly evaluate at least two state and federal economic development resources available to small businesses.

There are several state and federal programs that the government has put in place to help small businesses to grow in the market. The following are examples of federal and state programs that are helping businesses to export and grow their businesses in the United States.

Federal Resources

The U.S. Small Businesses Administration (SBA) is a federal program that provides grants to help with the growth of small businesses in the United States. This program collaborates with different organizations to provide small businesses with the funding they need to meet their strategic objectives (SBA, n.d.). There are different funding programs that businesses can be eligible for under this program. For instance, the program provides grants for research and development to businesses that want to advance their products. There are also grants to help businesses advance their exporting for their regional and international growth. The program may also provide funding for general uses, provided a business qualifies.

Another federal resource for small businesses is the SCORE Association. This nonprofit organization partners with SBA to provide mentoring services to small businesses. These services are provided free of charge to help businesses to have the right strategic support when looking to expand the size of their businesses and expand to new markets. Business expansion can be a very difficult process for businesses. The support provided by this organization may not be financial, but it is important in the way that it helps small business owners to choose the right strategies depending on the markets to which they are planning to expand.

State Resources

An example of a state program for small businesses is the State Trade Expansion Program (STEP). In this program, each state is provided with resources to advance the growth of its local exporters. Each state may have different eligibility criteria to determine which businesses qualify for this state fund (SBA, n.d). Small businesses in the states that provide the STEP program get a chance to be supported when they are starting to explore the global market, which can be very risky.

Another example of a state resource for small businesses is the state Minority Business Development Agency (MBDA) state resource. Small businesses looking to grow their operations locally and internationally have access to state resources provided under MBDA. Some of the benefits that can be acquired under these programs include access to capital, assistance in securing a strategic partner and preparing a business to be export ready for businesses seeking to grow their global markets.

References

U.S. Small Businesses Administration. (n.d.). Grants. Retrieved from: https://www.sba.gov/funding-programs/grants

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[u08d1] Unit 8 Discussion 1

Exporting and Growth for Small Businesses

For this discussion:

Exporting and Growth for Small Businesses

• Using globalEDGE, the Capella library, or both sources, identify and briefly evaluate at least two state and federal economic development resources available to small businesses.

Support your positions with additional resources from either globalEDGE or the Capella library.

You must use proper APA references and in-text citations to identify both the textbook and your additional resource.

Response Guidelines

Respond to two other learners.

Resources

• Discussion Participation Scoring Guide.

UNDERGRADUATE DISCUSSION PARTICIPATION SCORING GUIDE

• Due Date: End of weekly . (Looking for DISTINGUISHED – set up your paper to hit each Topic)

Percentage of Course Grade: 30%.

• globalEDGE.
• APA Style and Format.