The New Jersey Office of Export Promotion announced that it has been awarded $900,000 in federal funds, for a program that supports small-business owners looking to export goods.
This is the largest in the program’s history, from the U.S. Small Business Administration (SBA) through the State Trade Expansion Program (STEP). The program has assisted hundreds of businesses, leading to millions of dollars in export sales worldwide.
“New Jersey’s diverse small business community is the foundation of the Garden State’s economy,” stated New Jersey Secretary of State Tahesha Way. “The SBA award will help those small businesses reach markets around the world, and in turn contribute to their growth in communities across the state.”
All of the program funds will be awarded to eligible NJ small businesses, helping offset costs related to participation in foreign trade missions, international trade shows and exhibitions, website and collateral translations, and services provided by the U.S. Department of Commerce’s commercial service. Grants will be awarded to eligible companies on a first-come, first-serve competitive basis over a two-year period, from Sept. 30, 2019 to Sept. 29, 2021.