$250K STEP Awarded to NH’s Office of International Commerce

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New Hampshire District Office - September 9, 2022 

u s small business administration
State Trade Expansion Program (STEP)

$250K Awarded to Support Small Business Export Growth in NH

Concord, NH -The U.S. Small Business Administration just announced that $20 million in grant funding has been awarded to state international trade agencies throughout the country via a competitive application process to SBA’s State Trade Expansion Program grant program.

Locally, the Division of Economic Development’s Office of International Commerce earned $250,000 of that pool to help provide small businesses with the information and tools they need to succeed in export-related activities. Exporting activities include participating in foreign trade missions, market sales trips, designing international marketing campaigns, participating in export trade show exhibits, and attending training workshops, as well as other important means of engagement.

“I’m thrilled to welcome $250,000 through the STEP program to empower Granite State small businesses with the tools needed to compete on the global stage. I helped create STEP as a pilot program in 2010 to help small businesses enter new markets. From teaching small businesses how to export and participate in international markets to supporting e-commerce capabilities, this program is key to leveling the playing field and boosting the competitiveness of our small business community,” said Senator Jeanne Shaheen. “Small businesses are the bedrock of New Hampshire’s economy and communities, and I’m excited to see these important tools further strengthen the Granite State.”

“With nearly 96 percent of consumers living outside the U.S. and two-thirds of the world’s purchasing power in foreign countries, it's critical we level the playing field of opportunity for small businesses to access these potential customers and clients,” said SBA New England Regional Administrator Mike Vlacich.  “Thanks to this federal funding, the Office of International Commerce will be able to support new and existing small business exporters increase sales and expand markets through SBA’s State Trade Expansion Program.  We thank Senator Shaheen for her leadership in the creation of the STEP program”

This year marks the 10th year of the STEP funding, which has awarded over $215 million to date. Since 95% of the world's consumers and two-thirds of all purchasing power are located outside the United States, this grant program plays a critical role in providing access to capital, access to markets, and access to buyers.                                                                                                               

If you would like to learn more about the program, or contact your local state entity to apply for funding, additional details are posted on www.SBA.gov/STEP 

READ National Press Release Here 

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