May is small business month. Here at the New Jersey Chamber of Commerce, small business month is every month. May just gives us another excuse to say that small business employers are the backbone of New Jersey’s economy.
Our goal at the New Jersey Chamber is to help our small companies get started, flourish and grow. Our priority is to fight for policies and regulations that benefit small business, elevate the voice of New Jersey’s small business owners and entrepreneurs, highlight the role they play in the state’s economy, and support Main Street businesses’ growth and success with tailored resources and expert insights.
We work hard every day because small business owners are working hard every day.
Let’s start with the facts: Small business employers in New Jersey account for around 87% of all private-sector employers in the state, according to the New Jersey Economic Development Authority. Most of these small business employers are truly small, employing one to four employees. Yet, the numbers add up. In sum, approximately 665,000 people in New Jersey work for small businesses, generating around $28 billion in payroll income per year.
That’s critical to the success of our state.
Running a business is not easy these days considering the business climate currently features inflation, a credit crunch and the very real prospect of a recession. That’s on top of the high taxes and burdensome regulations that already comes with operating in the Garden State.
This year, to counter those challenges, the New Jersey Chamber’s lobbying team is urging Gov. Murphy and legislative leaders to support small business by:
- Reducing business taxes by allowing the 2% CBT surcharge to sunset at the end of the year;
- Providing more grants to small business owners and entrepreneurs all across New Jersey and in all industries;
- Using state surplus funds to replenish the state’s Unemployment Insurance Fund instead of through business payroll tax increases; and
- Re-energizing the state’s commission that untangles the bureaucratic red tape that is suffocating New Jersey companies.
Further, we have designed a number of events where our small business member companies can network and learn. They include our Open House and Reception on June 8 at the State Museum, a pure networking event that attracts business leaders from around the state.
We urge our members to participate in our upcoming small business webinars produced in partnership with NJM Insurance Group. There is one webinar on navigating tightening credit markets on May 11 and another on the impact of artificial intelligence on employers on June 14.
Last but not least, the New Jersey Chamber puts out exclusive articles, in our series called NJ ChamberEdge, that provide business owners with expert advice on important matters ranging from job recruiting to developing business prospects. See all of our NJ ChamberEdge articles here.
We are also developing affinity programs that will help small business owners to save money to add to their bottom lines.
We salute our small business members for the hard work they do – and we assist them every way we can. This month, and every month. Thanks for all you do.
