For the eighth consecutive year, NH’s Business and Economic Affairs’ Office of International Commerce will receive funding to support NH’s small business exporters. The $267,866 grant is from the U.S. Small Business Administration State Trade Expansion Program (STEP) and part of a $2 million block awarded to six international trade agencies in New England.
Trade represents nearly 58% of the world’s $80 trillion economy, and 95% of the world’s consumers are located outside the United States. STEP is designed to assist states with increasing the number of small businesses that export and the value of those exports.
The 2019 STEP awards will help the New England states assist small businesses with export-related activities. That could include: participating in foreign trade missions and foreign market sales trips, obtaining services provided by the U.S. Department of Commerce, accessing expertise in designing international marketing campaigns and export trade show exhibits, and participating in training workshops.
Since 2011, the STEP program has awarded roughly $157 million in grants to fund export opportunities and increase the footprint of small businesses in countries all over the world. Individual STEP awards are managed at the local level by state government organizations. The U.S. Small Business Administration’s Office of International Trade administers the STEP awards at the national level.