The New Jersey Business Action Center received $400,000 in federal funding to help support new-to-exporting businesses in underserved business communities.

In an Oct. 29 press release, NJBAC said the resources will go toward its New Jersey State Trade Expansion Program. NJSTEP provides financial awards to companies on a competitive, first-come-first-serve basis.

Funded in part by the U.S. Small Business Administration, NJSTEP empowers small and mid-sized companies that want to expand sales and customer bases with exports.

Administered by NJBAC’s Office of Export Promotion (OEP), NJSTEP has assisted hundreds of businesses across the state since its launch 11 years ago and led to millions of dollars in export sales around the world, according to NJBAC.

Between 2021 and 2023, the program helped produce over $55 million in revenue and more than 1,100 jobs in New Jersey, NJBAC added.

For the past two years, New Jersey has highlighted NJSTEP at a state pavilion featuring dozens of funding recipients at one of the gourmet food industry’s largest trade shows in North America.

Continued support

Lt. Gov. Tahesha Way, who oversees NJBAC in her capacity as secretary of state, commented, “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.”

She added, “NJSTEP will help these companies realize foreign sales opportunities, as well as grow jobs in the state.”

NJBAC Executive Director Melanie Willoughby remarked, “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.”

The application portal for the NJSTEP program opened Oct. 1. To learn more, visit the organization’s website or call 1-800-JERSEY-7.