AS-DOC awarded technical assistance grant to boost small businesses

Pago Pago, AMERICAN SAMOA — Small business owners in American Samoa will gain access to a comprehensive range of services aimed at enhancing their financial management capabilities and overall business acumen through a grant from the U.S. Treasury.

The American Samoa Department of Commerce (AS-DOC) has been awarded a technical assistance grant from the U.S. Treasury to bolster the State Small Business Credit Initiative (SSBCI). The grant, totaling $470,304, is designated to provide essential support to small businesses in American Samoa as they navigate various small business finance programs.

 These services include business counseling, preparation of financial statements, development of financial projections, business planning, tax preparation, legal services, and other essential needs. These services are tailored to meet the requirements of small businesses operating in American Samoa, ensuring that they have the support and guidance necessary to thrive in today's competitive business landscape.

"We are thrilled to receive this technical assistance grant from the U.S. Treasury, which will enable us to provide invaluable support to small businesses throughout American Samoa," Petti Matila, Director of the American Samoa Department of Commerce said in a press release issued by the Governor’s Office. "By offering a comprehensive suite of services, we aim to empower small business owners with the tools and knowledge they need to succeed. This initiative aligns with our ongoing efforts to foster entrepreneurship, drive economic development, and create opportunities for growth within our community."

The governor’s press release said that small businesses are the backbone of the economy in American Samoa, contributing to job creation, innovation, and economic resilience. Through strategic partnerships and targeted initiatives like the SSBCI, the ASDOC is committed to advancing the interests of small businesses and promoting sustainable economic prosperity across the territory.

For more information about the technical assistance services available through this grant, please contact the ASDOC at [email protected] or 633-5155.