On Wednesday, Governor Lou Leon Guerrero met with six local companies who received awards under the Guam State Trade Expansion Program (STEP).
Guam STEP is a Guam Economic Development Authority (GEDA) program funded by the U.S. Small Business Administration to increase the number of exporting small businesses and to increase the value of these exports. Guam STEP provides eligible small businesses with comprehensive export training, financial assistance for new to export and market expansion activities, and access to international markets.
The Guam STEP fund recipients are CoreSeed Aquaculture (Guam) Corporation, Hot Concepts, Inc. (dba Denanche’), Everything Guam, Imari, Kottura Innovations, and Warehouse Pacific.
All six companies completed the Guam STEP training program and submitted an export plan to qualify for up to $21,000 each in grant funds (for a total award amount of up to $126,000) to implement their proposed export activities.
“I am excited to know that these companies are taking the next steps to grow their businesses beyond Guam and to international markets,” said Governor Leon Guerrero. “It was inspiring to hear their personal stories and see the passion they have for what they do. The success of these entrepreneurs and others in our local business community is instrumental to the economic recovery of our island, and we must support their efforts.”
“Guam STEP provides that extra push for our local companies to take advantage of opportunities overseas and grow their global brand,” said GEDA CEO/Administrator Melanie Mendiola. “These companies are representing Guam through their products as they expand their reach. We hope that this is just the start for many of our other local businesses and entrepreneurs to dream big and to dream global.”
As part of Guam STEP, GEDA is hosting a virtual export conference on September 10, 2021, as a follow-up to the Taking the LEAP small business summit held in 2020. Visit GEDA’s website, www.investguam.com, for updates or to learn more about Guam STEP.
(Office of the Governor Release)