NEWS RELEASE: Hawai’i Awarded $525,000 to Support Small Business Export Expansion
DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM
BUSINESS DEVELOPMENT AND SUPPORT DIVISION
JOSH GREEN, M.D.
GOVERNOR
JAMES KUNANE TOKIOKA
DIRECTOR
DENNIS T. LING
ADMINISTRATOR
FOR IMMEDIATE RELEASE
October 23, 2024
HAWAI‘I AWARDED $525,000 TO SUPPORT SMALL BUSINESS EXPORT EXPANSION
U.S. Small Business Administration Invests in Hawai‘i State Trade Expansion Program
HONOLULU – The U.S. Small Business Administration (SBA) has awarded the Hawaiʻi Department of Business, Economic Development and Tourism (DBEDT) $525,000 to continue the Hawaiʻi State Trade Expansion Program (HiSTEP). This funding will provide small businesses with the vital tools and resources needed to succeed in export-related activities, ensuring Hawaiʻi companies can effectively compete in the global marketplace.
HiSTEP is a comprehensive export development initiative that supports local businesses in promoting their Made in Hawai‘i products and services worldwide. Since its inception, HiSTEP has successfully assisted more than 1,600 companies, generating an estimated $258 million in economic impact and supporting 1,400 local jobs.
“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,” said DBEDT Director James Kunane Tokioka. “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.”
HiSTEP has three integrated components:
- HiSTEP – Export Readiness Program offers export-related webinars, seminars and one-on-one advising to help companies develop their market strategies and export plans. Topics covered include export financing, logistics and multilingual website development. Participants leave with a go-to-market strategy tailored to their business.
- HiSTEP – Company Assistance provides direct financial assistance to individual businesses, helping them cover export development costs. Applications are accepted annually. On average, 17 companies benefit from the program each year.
- HiSTEP – Go Global facilitates participation in key international trade shows such as FoodEx Japan and the Tokyo International Gift Show. HiSTEP also supports sales and promotions on e-commerce platforms, allowing companies to reach new markets.
HiSTEP’s history of success demonstrates the program’s significant impact on Hawai‘i’s business community. Over the past 12 years, the program has received $6.9 million in SBA grants, which has been instrumental in helping local businesses expand their reach internationally. Each year, HiSTEP generates an average of $13 million in new export sales, fueling economic growth for the state. This success has also contributed to the broader economy, with $10.8 million in state taxes generated through export activities. HiSTEP’s efforts have supported 1,400 local jobs, creating a lasting positive impact on Hawai‘i’s workforce and economic landscape.
For more information on the Hawai‘i State Trade Expansion Program, visit https://invest.hawaii.gov/exporting/histep/.
About Department of Business, Economic Development and Tourism (DBEDT)
DBEDT is Hawai‘i’s resource center for economic and statistical data, business development opportunities, energy and conservation information, as well as foreign trade advantages. DBEDT’s mission is to achieve a Hawai‘i economy that embraces innovation and is globally competitive, dynamic and productive, providing opportunities for all Hawai‘i’s citizens. Through its attached agencies, the department fosters planned community development, creates affordable workforce housing units in high-quality living environments and promotes innovation sector job growth.
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Media Contacts:
Laci Goshi
Department of Business, Economic Development and Tourism
808-518-5480
Dennis Ling
Business Development and Support Division Administrator
Department of Business, Economic Development and Tourism
