Missouri receives $634,000 grant to help small businesses

2 years 8 months 2 weeks ago Tuesday, October 04 2016 Oct 4, 2016 Tuesday, October 04, 2016 1:59:00 PM CDT October 04, 2016 in News
By: Jacob Kornhauser, KOMU 8 Reporter
loading

COLUMBIA - Gov. Jay Nixon announced Tuesday the U.S. Small Business Administration has granted Missouri more than $634,000 in competitive funding. It will go toward helping more businesses export their products. 

One small business that could benefit, Columbia Safety, said the grant money could help workers go to a safety show they might not otherwise be able to attend. 

"After this announcement, we will be applying for a grant to go to Germany for the A+A Trading Show in 2017, which will help us network with other businesses and potential clients," Marketing Manager Alex Giddings said. 

Last year, 77 small businesses were helped by the same grant, which netted the state $599,999 in funding. The money is part of the State Trade and Export Promotion grant program, which aims to help eligible small businesses carry out export programs. 

Gov. Jay Nixon said increasing exports will create more jobs in Missouri.

"With programs like STEP, more and more Missouri businesses are able to start connecting with new customers and get their goods on shelves across the world," Nixon said. "When we increase the demand for Missouri-made goods, we are strengthening our manufacturing sector and creating more jobs for Missouri families."

In 2012, when the state was awarded more than $1 million in federal funding, 155 jobs were created statewide.

Giddings said grants like this, which help companies grow internationally, are extremely important, because there is so much more potential beyond the borders of Missouri.

"Seventy-five percent of the trade in the world is done outside the U.S., so there's huge opportunities there. Having the ability to tap into these funds can really help grow small businesses in Missouri," Giddings said. 

In 2012, Missouri companies helped by the program saw a return on investment of nearly $26 per $1 of federal funding they received. 

There are a number of ways small businesses in Missouri can use federal funding under the grant, including:

  • Participation in foreign trade missions
  • Subscription to services provided by the U.S. Department of Commerce
  • Website foreign-language translation services
  • Design of international marketing materials
  • Trade show exhibitions
  • Participation in trade and export workshops 

Without funds like this, Giddings said, his company's customers in one region may not be able to even communicate with them. 

"A lot of our customers in the Middle East say we wouldn't be able to talk to them, so using translation services and that sort of thing to interact with them on more of a personal level could definitely be useful," Giddings said. 

Through the second quarter of 2016, exports totaled $7.19 billion, which is up more than $400 million from the same time period in 2015, according to state figures.

More News

Grid
List
COLUMBIA – A major river crossing in Howard County opened Tuesday as flood waters receded. The Missouri Department of... More >>
1 day ago Tuesday, June 18 2019 Jun 18, 2019 Tuesday, June 18, 2019 4:38:00 PM CDT June 18, 2019 in News
LAURIE - A 93-year-old woman told police she blacked out before driving through the front door and into the pool... More >>
1 day ago Tuesday, June 18 2019 Jun 18, 2019 Tuesday, June 18, 2019 4:27:00 PM CDT June 18, 2019 in News
COLUMBIA - The organizer of a water gun fight says he wanted to address a serious issue in a fun... More >>
1 day ago Tuesday, June 18 2019 Jun 18, 2019 Tuesday, June 18, 2019 3:58:00 PM CDT June 18, 2019 in News
HIGBEE - The Higbee Senior Center will close its doors in 10 days. The board of directors said it can... More >>
1 day ago Tuesday, June 18 2019 Jun 18, 2019 Tuesday, June 18, 2019 3:35:00 PM CDT June 18, 2019 in News
HARTSBURG - Some people in Hartsburg say their yards are steeped in sewage after crews worked on a flood-clogged line.... More >>
1 day ago Tuesday, June 18 2019 Jun 18, 2019 Tuesday, June 18, 2019 3:20:00 PM CDT June 18, 2019 in News
KANSAS CITY - Doctors say a 15-year-old boy from Kansas City who fell onto a 10-inch knife is extremely lucky.... More >>
1 day ago Tuesday, June 18 2019 Jun 18, 2019 Tuesday, June 18, 2019 3:04:00 PM CDT June 18, 2019 in News
JEFFERSON CITY - Researchers from Lincoln University and the University of Missouri have been working collaboratively on a new type... More >>
1 day ago Tuesday, June 18 2019 Jun 18, 2019 Tuesday, June 18, 2019 3:03:00 PM CDT June 18, 2019 in News
COLUMBIA - A man who pleaded guilty in April to trespassing at two Columbia schools ended up in jail again... More >>
1 day ago Tuesday, June 18 2019 Jun 18, 2019 Tuesday, June 18, 2019 2:29:00 PM CDT June 18, 2019 in News
MILLER COUNTY - An appeals court has overturned the involuntary manslaughter conviction of a woman accused of "recklessly" causing the... More >>
1 day ago Tuesday, June 18 2019 Jun 18, 2019 Tuesday, June 18, 2019 2:01:00 PM CDT June 18, 2019 in News
SPRINGFIELD, Mo. (AP) — A 24-year-old Springfield man who killed his friend and dumped the body on the side of... More >>
1 day ago Tuesday, June 18 2019 Jun 18, 2019 Tuesday, June 18, 2019 12:23:57 PM CDT June 18, 2019 in Continuous News
JEFFERSON CITY (AP) — A St. Louis judge says Missouri’s Republican-led Legislature cannot cut off funding to abortion providers and... More >>
1 day ago Tuesday, June 18 2019 Jun 18, 2019 Tuesday, June 18, 2019 9:52:00 AM CDT June 18, 2019 in News
ST. LOUIS - Planned Parenthood in St. Louis is required to submit a "Plan of Correction" to the Missouri Department... More >>
1 day ago Tuesday, June 18 2019 Jun 18, 2019 Tuesday, June 18, 2019 2:54:00 AM CDT June 18, 2019 in News
CALIFORNIA - Moniteau County is considering regulations for concentrated animal feeding operations (CAFO) that are more restrictive than state law.... More >>
2 days ago Monday, June 17 2019 Jun 17, 2019 Monday, June 17, 2019 7:49:00 PM CDT June 17, 2019 in News
COLUMBIA – Central Missouri Honor Flight 58 left Tuesday morning. This Honor Flight features 110 veterans from the Korean and... More >>
2 days ago Monday, June 17 2019 Jun 17, 2019 Monday, June 17, 2019 5:55:00 PM CDT June 17, 2019 in News
JEFFERSON CITY – Exclusive surveillance video shows a 2-year-old child dragged and then hit by a mini-van Monday morning. ... More >>
2 days ago Monday, June 17 2019 Jun 17, 2019 Monday, June 17, 2019 4:40:00 PM CDT June 17, 2019 in News
ST. LOUIS (AP) — A former FBI agent who was involved in the criminal investigation of former Missouri Gov. Eric... More >>
2 days ago Monday, June 17 2019 Jun 17, 2019 Monday, June 17, 2019 4:01:00 PM CDT June 17, 2019 in News
BOONVILLE - Flooding along the Missouri River is still affecting the Katy Trail near Boonville. The annual five-day Katy Trail... More >>
2 days ago Monday, June 17 2019 Jun 17, 2019 Monday, June 17, 2019 2:24:00 PM CDT June 17, 2019 in News
COLUMBIA - The legacy of former Columbia Mayor Darwin Hindman is living on through his community, his co-workers and the... More >>
2 days ago Monday, June 17 2019 Jun 17, 2019 Monday, June 17, 2019 1:48:00 PM CDT June 17, 2019 in News
Columbia, MO
Broken Clouds 67°
1am 67°
2am 66°
3am 65°
4am 65°