The U.S. Small Business Administration granted the New Jersey Business Action Center $1 million to help promote small business exports, the administration announced Monday.
With a $333,333 match from New Jersey, small businesses statewide now have access to $1.3 million in funding to help them enter and compete in the global marketplace under the agency’s State Trade Expansion Program.
The SBA granted a total of $19 million to 48 states to increase exporting by small businesses across the country; New Jersey’s $1 million was the second highest total overall after Michigan and Washington state received $1.3 million each.
“This SBA STEP award provides New Jersey small businesses with the critical funding they need to thrive internationally while creating jobs and strengthening their communities,” said SBA New Jersey District Director Alfred Titone in a prepared statement. “We know that our 10-year partnership with the New Jersey Business Action Center has been a tremendous boost for small businesses to grow through exporting, and has contributed to the $36 billion in products that were exported to other countries in 2019.”
Small business owners may use STEP Grants to participate in foreign trade missions, foreign market sales trips, subscription services provided by the U.S. Department of Commerce, as well as for the design of international marketing campaigns, export trade show exhibits,