Your resource for current news, policies and helpful updates impacting New Jersey businesses.

Pilot Program to Provide Financing to Microbusinesses

The New Jersey Economic Development Authority has approved the creation of a pilot loan program to provide financing to early-stage and microbusinesses in the state. Under Governor Murphy’s vision for a public bank--for which an implementation board was recently established via executive order--public funds could be directed toward reducing unmet community capital needs. The Microbusiness Loan Program will serve as the initial demonstration project for how a public bank could serve to make financing available, at a low cost and with flexible terms, to early-stage businesses that may have difficulty accessing conventional bank financing.

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Internship Program Expands to STEM Fields

Created in 2018, the New Jersey Career Accelerator Internship Program was designed to bolster the state's innovation economy by encouraging young workers to maintain their careers in New Jersey. On November 8th, in honor of National STEM Day, the NJ Department of Labor and Workforce Development announced an expansion of the program into STEM occupations by increasing funding incentives to businesses. The program focuses on first-time interns enrolled in high schools, colleges and universities with placement offers in STEM fields such as IT/Software, Life Sciences and Health Care, and Energy. Participating employers will be reimbursed up to 50 percent of wages paid to new interns, up to $3,000 per student.

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Need to Know: Building Codes and Standards

From small businesses to large corporations, knowing the rules and regulations regarding health and safety in the business workplace is a top priority. The New Jersey Department of Community Affairs Division of Building Codes and Standards establishes the specific guidelines and procedures all businesses must follow to remain in good standing and avoid legal action. Read through the Codes and Standards and stay up to date on changes and revisions to ensure best practices.

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The State of New Jersey FAQs

Seeking information on expanding your business? Need to update your business insurance? Want to learn more about the initiatives taken by the State to promote economic growth? The Official Web Site for The State of New Jersey hosts a variety of relevant information for business owners and consumers. Visit the Frequently Asked Questions page for more information.

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Keeping Up With NJBAC

New GUIDES are available for download to keep you and your business in the know. The Business Assistance Programs guide highlights various programs to which businesses can apply for grants, loans and benefits, while the Guide to Doing Business in New Jersey features an abundance of tips and resources prepared for long-time business owners and entrepreneurs alike. Daily digests can be found via our social media, which is continuously updated to bring you the most important news no matter where you are. Keep up with legislation changes and news by following us on Twitter and on LinkedIn.

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