New Jersey Announces $400K to Support Small Business New to Exporting

The New Jersey Business Action Center (NJBAC) has announced that it has been awarded $400,000 in federal funds for the New Jersey State Trade Expansion Program (NJSTEP) to support new-to-exporting businesses in underserved business communities. The NJSTEP program provides financial awards to companies on a competitive, first-come-first-serve basis. The program is partly funded through a grant from the U.S. Small Business Administration (SBA).

“This year’s NJSTEP program continues the support of New Jersey companies that are from underserved business communities selling internationally. This includes export resources to Minority, LGBTQ, Woman, and Veteran-owned businesses to develop better access to global markets,” says New Jersey Lieutenant Governor Tahesha Way, who oversees the work of the NJBAC in her capacity as Secretary of State. “NJSTEP will help these companies realize foreign sales opportunities, as well as grow jobs in the state.”

The state’s successful NJSTEP program has been awarded funding for eleven consecutive years. This year’s funding is focused on expanding the number of new-to-exporting businesses in underserved business communities. The program has previously assisted hundreds of businesses, leading to millions of dollars in export sales around the world. The STEP 9 (2021 – 2023) Grant produced over $55M in revenue and over 1,100 jobs in New Jersey.

“Selling into global markets is not only for large or established firms. We are encouraging New Jersey companies from underserved business communities to apply for a NJSTEP grant to support their exporting activities and grow New Jersey jobs,” said New Jersey Business Action Center Executive Director Melanie Willoughby.

The NJSTEP is administered by the NJBAC’s Office of Export Promotion. The application portal for the NJSTEP program opens on October 1.

The New Jersey Business Action Center (NJBAC), housed within the New Jersey Department of State and operating under the leadership of Executive Director Melanie Willoughby, is a business-first resource that offers no-cost, confidential assistance to help businesses grow. The team helps companies of all sizes save time and money by getting answers from government agencies, directing businesses to appropriate officials and contacts, and facilitating meetings and follow-ups from regulatory agencies. For further information, call 1-800-JERSEY-7, visit nj.gov/state/bac or visit business.nj.gov and click on the LiveCHAT.