The Maine International Trade Center just received a grant for almost $200,000 from the U.S. Small Business Administration to help small businesses in the state grow their exporting operations.
The Main International Trade Center, which is located in Portland, helps small businesses in the area market their products around the world. So this new grant will help the center to support that mission even further. And of course, the hope is that creating those opportunities for small businesses will also help the local economy through job creation and sales increases, according to SBA District Director for Maine Amy Bassett.
Small Businesses in Maine Will Get Help to Grow Exports
More specifically, Maine businesses will be able to receive up to $10,500 in reimbursements for costs associated with expanding exports thanks to the grant, which comes from the SBA’s State Trade Expansion Program. So it’s a program that could mitigate some of the financial risks associated with setting up or growing an export business.
And Maine isn’t the only state where exporting is crucial to small business survival. Recent research from SCORE indicates that 97 percent of the U.S. businesses that export are small businesses. And 63 percent of small businesses overall say they would like to export their goods or services.
For the small businesses that don’t already export, there are some roadblocks to consider. But generally, exporting is actually a bit easier than a lot of businesses think, according to the data from SCORE.
So with grants and assistance programs like the one in Maine, small businesses can get the help and valuable resources they need to start or expand a successful exporting operation. And if you can do that, you could unlock some huge opportunities for increasing sales, growing your business and supporting the economy as a whole.
Bar Harbour, Maine Photo via Shutterstock