When companies in New Jersey thrive, so do the state’s finances. When the business community thrives, state tax revenues rise, social programs are funded and the generous philanthropic giving of the business community grows.
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.
Prior to becoming president of the New Jersey Chamber of Commerce, I spent over 40 years working in the banking industry. So, naturally, many of you have reached out to me over the past couple of weeks voicing concerns about the state of their financial services institutions and the overall system. Some people are worried, especially small business owners.
Like most everybody, we are keeping a close eye on the economy. Right now, the uncertainty continues to grow.
Adding to inflation and the prospect of a recession, is a banking crisis that is rattling markets. And it could worsen. If lending tightens, many companies, especially smaller ones, could lose access to financing. It could cause severe distress to our economy — and our state leaders need to prepare now.
As you may already know, our ReNew Jersey Business Summit & Expo is fast approaching on March 14 and 15 at Harrah’s Resort Atlantic City – and we need you there! This will be the Chamber’s biggest and most important event of the year, and a big turnout is critical to its success. The Summit will be attended by hundreds of business, nonprofit and government leaders to discuss and explore ways New Jersey can best position itself for a bright economic future.
I hope everyone is having a great start to the New Year. I am already encouraged that 2023 will be a year in which the governor’s office and Legislature focus on implementing policies that help New Jersey companies during this time of great economic uncertainty. That’s because recent comments and actions by the governor and legislative leaders endorse pro-economic growth measures that the New Jersey Chamber of Commerce and other business groups have been seeking for quite some time.
N.J. Chamber of Commerce Members,
I’d like to wish you a happy holiday season and thank you for your support of the New Jersey Chamber of Commerce in 2022.