It clarifies the fringe benefits of state-mandated employees, such as thearned sick leave, paid family leave, temporary disability and workers compensation. In addition, it identifies the licensing and certification requirements that one needs to operate, such as small business, woman, minority, or veteran owned business certification.ns.
Willoughby says five of the most important resources the NJBAC provides to small business owners are: real-time business assistance, access to financing options, government procurement assistance, export and informative webinars.
AAs an example of the webinars offered by the NJBAC, the center is collaborating with the New Jersey Department of Environmental Protection and the New Jersey Clean Communities Council on âBag Up NJâ to raise awareness about the implementation of Plastic Car in 2022.Ryout Bags and Styrofoam Prohibition Act promulgated by Governor Murphy. Other topics include franchising, what you need to know; The importance of social media for small businesses; E-commerce; and cybersecurity.
The NJBAC facilitated the provision of aresponds to businesses in real time with a live chat feature, accessible through business.nj.gov. There is also a professional helpline at 1-800-JERSEY-7, open Monday through Friday 8:00 a.m. to 5:00 p.m. Spanish speaking business lawyers are available.label.
U.S. Small Business Administration
At the SBA, New Jersey District Director Al Titone says the agency provides top-notch support and access to its programs that “meet companies where they are in their current situation and provide products and services that can helpp they grow up.
Titone realizes that small businesses are the lifeblood of the state’s economy. To that end, the SBA office has been working to help businesses with various products and services throughout the pandemic.
For example, the COVID Economic Injury DisThe Aster Loan Program (EIDL) provided more than 129,000 small businesses and nonprofits with approximately $ 9.72 billion to help them meet their financial obligations and operating expenses that could have been covered if COVID had not taken place. “These long-term weak-iLoans at interest rates (up to 30 years at a low interest rate; 2.75% for nonprofits and 3.75% for small businesses) helped close the gap for a so many of our entrepreneurs â, Titone said.
There have also been 229 grants for approved shutter site operators for New Jersey, providing $ 142.4 million to hard-hit venues such as theaters, cinemas, museums, and performing arts organizations, among others. In addition, 3,086 restaurants received payments from the Restaurant Revitalization Fund (RIF) of more than $ 923 million as well.
Working in partnership with the SBA, the New Jersey Small Business Development Centers (NJSBDC) have advised and trained thousands of small business owners and entrepreneurs on operational issues that have helped them recover from the pandemic effects.
According to Deborah K. Smarth, CEO of NJSBDC and Associate State Director, âWith our comprehensive assistance to small businesses and entrepreneurs, many companies have applied for and obtained EIDL, PPP and other funding, including grants to help them maintain and stabilize their businesses against the effects of COVID. “
She says many NJSBDC client companies have reopened, developed new strategies and recovered financially thanks to the full support provided by the center. business specialists.
The NJSBDC has also hosted special training webinars attended by thousands of business owners. âThey took advantage of learning business practices to start, recover and support resilience and future growth to overcome tit challenges COVID-19 â, Smarth said.
Topics for the webinar included: reopening practices with a focus on safety and health, supply chain management, successful operational strategies, remote working, improving business continuity plans, preventing cybersecurity threatsts, and intellectual property protection, etc.
By partnering and leveraging the expertise of key collaborators at Rutgers University (host of the national NJSBDC program), small minority-owned businesses have been further helped. Targeted surveys on small bStatewide activities – including NJSBDC clients – have been carried out and the small business assistance counseling / training areas are continually being adjusted based on the assessment of business needs and demand.
“Restaurateurs and retail stores on Main Street to science and technology companies looking to bring their innovations to market, the NJSBDC has provided the necessary personalized advice and training that has helped build resilience, â Smarth said.