What Can an Export Grant Out of New Jersey Do For You?

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In the case of New Jersey, USA, the New Jersey Business Action Center (NJBAC) is offering export assistance to small and mid-sized businesses in New Jersey through its NJ STEP program. 

Through the New Jersey State Trade Expansion Program (NJ STEP), which is funded in part through a grant from the U.S. Small Business Administration (SBA), the NJBAC offers an opportunity to help Small Business Enterprises (SBEs) receive financial awards to offset export promotion costs partially.

The benefits of exporting include increased revenue, a diversified revenue stream, and an expansion of product offerings for local preferences.

To learn more about its tools and resources, visit here.

Michigan Receives $2,000,000 State Trade Expansion Program STEP Grant

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Michigan received $2 million in federal grant funds to help Michigan small businesses grow in the state through increased access to global markets. The amount is the maximum awarded by the SBA and a $650,000 increase from 2021.  

Managed by the Michigan Economic Development Corporation’s International Trade program, the Michigan STEP grant initiative (MI-STEP) aims to promote job creation by empowering Michigan small- and medium-sized enterprises (SMEs) to export their products, supplying financial assistance awards for eligible export development-related expenses.

The funds are expected to assist more than 350 Michigan companies in increasing international sales.

Read on to learn more.

World Trade Center Utah Receives $1,050,000 State Trade Expansion Program STEP Grant

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SBA announced that World Trade Center Utah (WTC Utah) will receive a State Trade Expansion Program (STEP) Grant of $1,050,000 on behalf of the State of Utah.  

Utah’s export growth rate has been the highest in the nation for the past two years. Eighty-five percent of Utah’s exporters are small businesses, and international sales add $5 billion across the state in additional revenue for these small business exporters.

Exporting is an important tool for small businesses to grow revenue and boost local economies. STEP is designed to assist states with increasing the number of small businesses that export and the value of those exports.  

Read on to learn more about how Utah received a STEP grant to accelerate global growth of businesses.

STEP Awards 2018: Funding Export Opportunities

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SBA Administrator Linda McMahon says, "The STEP awards are an important resource that provide small businesses with the confidence and funding they need to thrive in this competitive international market." She goes on to say.

"The SBA is committed to ensuring equal access for small businesses to international markets and expanding export opportunities, and ensuring small businesses have the resources they need to drive their businesses and local communities forward."

The 2018 STEP awards will allow states to assist small businesses with the information and tools they need to succeed in export-related activities that are in line with the objectives of the program.

Check out which states got what dollar amount in STEP funding here.

Today in Global Small Business: What's in Store for Global Business Travel in 2017?

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What's affecting me, my clients, my colleagues and other global small business owners:

• Global business travel in 2017 is complex.  Find out how to navigate it via a free WEGGinar™ on 10/11 with Stephanie Lewin, Global Immigration Attorney at Berry Appleman & Leiden LLP (www.balglobal.com). She is responsible for managing the global immigration accounts of multi-national companies, providing leadership and guidance to legal teams and clients: https://register.gotowebinar.com/register/6874264726093775875.
• Are you a New Jersey business owner who wants to expand your business globally?  Apply for a STEP grant.
• Is Facebook a trusted tech company?
• Join us for the 3rd Annual Global Small Business Forum held in Chicago on Friday, October 20. Check out the amazing speaker lineup!  This forum is for and about entrepreneurs and small businesses who are running global e-commerce businesses.  First 5 business owners who email me wanting to attend the forum are guaranteed a 'flash discount.'
• Look who is boosting e-commerce sales with a new check-out toolkit.
• One of the biggest and most profitable sectors of the financial industry is the lending sector. See how Fin Tech is changing the global financial segment.