GEDA to help Guam businesses export their products

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Guam Economic Development Authority (PNC file photo)

The Guam Economic Development Authority (GEDA) is currently accepting applications for eligible Guam businesses interested in the Guam State Trade Expansion Program (Guam STEP).

Initially launched in March 2020, the program has been restructured to take into account new business norms as a result of the COVID-19 pandemic.

Funded in part by a grant with the U.S. Small Business Administration, Guam STEP is a Federal-State partnership grant initiative intended to assist eligible small businesses enter and succeed in the international marketplace.

The program’s objectives are to increase the number of small businesses that are exporting and to increase the value of exports for those small businesses that are currently exporting.

Guam STEP provides eligible small businesses with comprehensive export training, financial assistance for new to export and/or market expansion activities, and access to international markets.

Participating businesses that meet certain requirements under the program will qualify for direct funding as incentives to implement export strategies such as website development and translation, international marketing design, and access to e-commerce platforms.

To re-launch Guam STEP, GEDA is hosting a webinar, “Why Should I Export and Am I Ready?”, on Tuesday, February 2, 2021. Interested businesses can register for free at https://www.investguam.com/step-grant/registration/.

“Economic recovery of our island starts with our local businesses,” said Melanie Mendiola, CEO and Administrator of GEDA. “Guam STEP provides training and support for these businesses to not only adapt to new business norms as a result of the pandemic, but to take advantage of opportunities to grow internationally and export through e-commerce and other business strategies.”

For more information about the program or to download the Guam STEP application, visit www.investguam.com. If you require additional assistance or have further questions, contact GEDA at 671-647-4332 or email step@investguam.com.

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