As the Legislature returns this fall, our New Jersey Chamber of Commerce lobbying team will be back in the State House pushing for policies that will make New Jersey a better place for our members to run their businesses – and for their employees to live and raise a family.
It is excellent news that CNBC, in its annual Top States for Doing Business List, ranked New Jersey as the most improved state, climbing 23 places to No. 19, after a 42nd place finish last year. This is certainly a reason to celebrate and the New Jersey Chamber of Commerce is pleased that the CNBC survey recognizes some important strengths in New Jersey’s economy.
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.