The U.S. Small Business Administration (SBA) recently awarded the Hawaiʻi Department of Business, Economic Development and Tourism (DBEDT) a $525,000 grant supporting the Hawaiʻi State Trade Expansion Program (HiSTEP).
HiSTEP is an export development initiative providing small businesses with the tools and resources needed to promote their Made in Hawai‘i products and services worldwide.
“We are incredibly grateful for the continued support from the U.S. Small Business Administration, which enables us to help Hawai‘i’s small businesses thrive in global markets,” DBEDT Director James Kunane Tokioka said. “This funding will allow us to further strengthen our efforts through HiSTEP, empowering local companies to share their unique, high-quality products and services with the world while driving economic growth here at home.”
The program has three components:
The HiSTEP – Export Readiness Program offers export-related one-on-one advising, seminars and webinars to help companies develop market strategies and export plans.
HiSTEP – Company Assistance provides direct financial assistance to businesses to help them cover export development costs.
HiSTEP – Go Global facilitates participation in key international trade shows, and supports sales and promotions on e-commerce platforms.
HiSTEP generates an average of $13 million annually in new export sales. It has assisted more than 1,600 companies, supporting 1,400 jobs and generating an estimated $258 million in economic impact.