As they look to do better from latest federal aid package, the big question for small business owners concerns access to working capital
We are pleased that the U.S. Congress approved the follow-up $484 billion coronavirus relief package which will provide badly needed funding for small business loans under the depleted Paycheck Protection Program. This is welcome news for employers and employees here in New Jersey who are in need of relief.
Gov. Phil Murphy said Monday he’ll give New Jerseyans a “broad blueprint” by the end of the week on how the state will begin to reopen from the near-lockdown orders he put in place to combat to the coronavirus and return to “some new normalcy.”
Although Gov. Phil Murphy has often said nearly all non-essential businesses have obeyed orders to stay closed during the coronavirus pandemic, occasional offenders continue to crop up — including a club in Plainfield officials say was caught on Saturday serving alcohol to customers.
The number of deaths and cases from the coronavirus continues to rise in New Jersey as statewide positive tests hit 85,301 on Sunday, but the number of COVID-19 patients at the state hospitals has declined for the fourth consecutive day, according to a report from the state Department of Health.
New Jersey Governor Phil Murphy is pitching a borrowing plan to help make up for billions of dollars of lost revenue in the current and next budget amid a virus-induced lockdown.
The New Jersey Chamber of Commerce supports both Senate bills S-2347 and S-2348 which were approved by the state senate yesterday. The two bills provide needed relief to small businesses and their employees via a series of tax deferrals and credits which will help their cash flow.
Small businesses and their employees in New Jersey are going to need all the support they can get during the economic downturn caused by the COVID-19 pandemic.
We thank Senate President Steve Sweeney, Senate Republican Leader Tom Kean and Senators Linda Greenstein and Anthony Bucco for their work on this legislation.
We urge the state legislature to fast track this legislation to Governor Murphy’s desk and the Governor to sign the bills into law.
We further urge our state leaders to start planning now for a successful transition of our state economy from survival to recovery by finding new sources of working capital.
The overwhelming demand for the federal and state relief programs tells us that businesses are desperate for cash and will be for the foreseeable future and that government programs will be strained to keep up with this demand.
Making new sources of working capital readily available to businesses will be the key to a successful economic recovery.
New Jersey will join five other states in the region to put a plan together to figure out how to rebound from the coronavirus outbreak and the near-lockdown that has gripped the northeast to slow the spread, Gov. Phil Murphy announced Monday.
In response to the unprecedented crisis caused by the coronavirus outbreak, everybody is understandably focused on their health and the health of their loved ones as well as the viability of their jobs and businesses.
We at the New Jersey Chamber of Commerce heard these concerns in dozens of voices last week on a conference call with small business owners discussing the new federal relief legislation - How do we survive? How do I keep my employees on the payroll? How long will this nightmare last?
We are pleased that the U.S. Congress approved the CARES Act in a quick and bipartisan manner to assist those affected by COVID-19.
The NJ Chamber thanks all of New Jersey’s Congressional members who helped secure this critical legislation and we are grateful for the commitment and dedication they have shown during this unprecedented crisis.