SBA Names New Hampshire’s Office of International Commerce as a 2023 State Trade Expansion Program Awardee
$444,366 Available to Support Small Business Export Growth in the State of New Hampshire
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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.
?“In highly competitive global markets, it’s critical that New Hampshire companies can reach them. Funding from the State Trade Expansion Program provides businesses with the connections and resources they need to meet demand for their products around the world. In five of the past six years, New Hampshire exports have set records, signifying increasing demand for an array of goods made here. STEP funding has, and continues to, deliver impressive returns and the latest round of funding will continue that success,” said Commissioner of the New Hampshire Department of Business and Economic Affairs, Taylor Caswell.
?Locally, New Hampshire’s Office of International Commerce earned $444,366 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.
?“With nearly 95 percent of the world’s consumers and two-thirds of all purchasing power located outside of the United States, it is critical that we give small businesses the tools and support they need to access this market,” said SBA Regional Administrator Marlene Cintron. ?“Thanks to this federal funding, New Hampshire’s Office of International Commerce is able to support new and existing small business exporters, increase sales and expand markets through SBA’s State Trade Expansion Program.”
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?“I’m thrilled that New Hampshire has received this funding to continue to support small business exporting throughout the state,” said SBA New Hampshire District Director Amy Bassett. “This is the largest award the state has received under this program and it is much needed to help New Hampshire businesses get the tools and support they need to provide locally made products to markets around the world.”
?According to U.S. Census data, New Hampshire exported goods worth $5.3 billion in 2020, with $1.7 billion worth of goods exported by small firms.
?This year marks the 70th year the Small Business Administration has supported American corporations. On this occasion, we celebrate the aid the SBA has provided including 11 years of STEP funding, which has awarded over $235 million. 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