NJ NEEDS SUSTAINABLE SMALL BUSINESS RECOVERY PLANS

Last week, Governor Murphy signed legislation providing $15 million aid to New Jersey’s small businesses and non-profits. (The press release from the governor’s office is below.)

And we are grateful for any measures being taken right now to help support our state’s small business infrastructure. But so far, every initiative that has come out of the governor’s office has been one with a shelf life. After all, the funding is not limitless.

THAT’S WHY WE NEED GOVERNOR MURPHY TO SIGN LEGISLATION BASED UPON OUR #NJSmall SUSTAINABLE APPROACH THAT WILL HELP NJ’S SMALL BUSINESSES – WITHOUT COSTING THE STATE ANY ADDITIONAL DOLLARS!

So far, our approach has inspired bills in the state assembly (Bill A-4634) and state senate (Bill S-2982) – and last month, a legislative panel endorsed a 10-bill package (including Bill A-4634) that would help our small businesses recover from the pandemic.

But with each month that ticks by, more small businesses are losing their battle.

Our approach is SIMPLE: provide a 1% Corporate Business Tax credit for companies in NJ when they hire our state’s small businesses. This will not only keep more NJ small businesses alive – it will also keep more business dollars in NJ, which is better for EVERYONE who lives and works here. And it doesn’t require any additional funding, making the NJSmall approach truly sustainable to help our small businesses thrive in the future!

Governor Murphy: I know the legislature is on break this month (April) for budget review. But I also know that if something is important to you, you can make it happen. I am hoping you will see this post – and that you will take it upon yourself to move this no-cost, all-upside approach into legislation. We need sustainable small business recovery in New Jersey.

Thank you!

Denise Blasevick, NJ small business owner & NJSmall co-founder

PS: Thank you to the small businesses that have sponsored our efforts so far:

  • benefEx: Benefits consulting experts whose approach results in better benefits and cost reductions.
  • DSP Clinical: The expert CRO in women’s health and reproductive endocrinology/infertility.
  • OlenderFeldman: Business-centric legal experts who also provide clients with valuable business consulting.
  • The S3 Agency: Ad agency whose expertise and creativity maximize branding and marketing results.
FOR IMMEDIATE RELEASE 

April 12, 2021

       

Contact: Darryl Isherwood

Press Office: Governor’s Office

Email: Darryl.Isherwood@nj.gov

 

Governor Murphy Signs Legislation Providing $15 Million in Aid to Small Businesses and Non-Profits

Legislation is Part of a $100 Million Relief Package for New Jersey Small Businesses

PRINCETON – Governor Phil Murphy today signed into law A-A5446, which provides $15 million in federal COVID-19 relief aid for small businesses throughout New Jersey. The bill – sponsored by Senators Linda Greenstein and Joseph Lagana and Assembly Members Joann Downey, Andrew Zwicker, and Sterley Stanley – provides aid in the form of grants to small businesses and non-profits in need. The bill is part of a five-bill, $100 million relief effort aimed at helping New Jersey’s small businesses recover from the year-long pandemic.

“New Jersey’s small businesses were particularly hard hit by the ravages of COVID-19, ” said Governor Murphy. “This legislation, along with three additional bills I signed last week and one I will sign in the near future, will go a long way toward helping hundreds of state businesses keep their doors open as we recover from this year-long ordeal.”

“Since the beginning of the pandemic, supporting small businesses has been central to Governor Murphy’s response. These businesses are the lifeblood of our economy, and ensuring they not only recover but come back stronger and better prepared for future challenges is critical to achieving a sustainable, equitable recovery,” said NJEDA Chief Executive Officer Tim Sullivan. “The funding announced today, in addition to the other funds for specific industries announced over the past week, will provide much-needed support for businesses as they overcome the remaining pandemic-related challenges and set the stage for a stronger, fairer recovery.”

“Providing our support during this difficult time will not only allow these organizations to remain in operation, but will help preserve and create jobs while spurring the economic recovery we aim to achieve,”said Assembly Members Downey, Zwicker and Stanley. “Investing in our businesses and non-profits will have a direct, beneficial impact on families throughout our state for years to come.”

“Throughout the last year, COVID-19 has placed a serious strain on many of our local businesses and nonprofit organizations. Unfortunately, a number of beloved businesses in our communities were unable to weather this storm and sadly closed their doors for good,” said Senator Greenstein. “This $15 million in federal funding will provide a big sigh of relief to so many business owners and nonprofits throughout our state, as well as their employees and individuals that rely on their services.”

“Providing financial support to businesses and nonprofits is fundamental to their survival during the pandemic,” said Senator Lagana.  “Local businesses create vibrant downtowns and communities, while nonprofits can efficiently and effectively provide services for people in need. Together, they will play a central role in New Jersey’s economic recovery and the quality of life for our residents.”

The relief aid will be administered by the New Jersey Economic Development Authority, which will announce when the application for the aid is open. To date, the NJEDA has distributed more than $250 million in aid to some 55,000 businesses across the state. 

The signing was held at Jammin’ Crepes, a business that began its journey at a farmers market in the local train station parking lot and in 2014 opened its first brick and mortar location in downtown Princeton.

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