Bergen County Exec Tedesco Helps Local Small Businesses
As the country returns to a post-pandemic climate and mentality,
small businesses are returning to conquering their old challenges.
Among them are:
• Lack of Funds. Nothing can hold a business back like money
problems.
• Lack of Time. Are business owners working on the business or
in the business? Are they relegating or delegating responsibilities.
• Trouble Finding Good Employees.
• Difficulties Balancing Growth and Quality.
• Ineffective Web Presence.
• Recruitment, Retention of Employees, and Labor Quality.
• Changing Operations in Response to the Market Conditions.
• Lack of Capital/Cash Flow.
• Administration and Time Management.
• Managing, Marketing and Advertising.
• Increasing Your Brand Awareness
What’s missing from this list? The all-important task of attracting new customers. Without new customers, business people understand the consequences of not having any customers. That is an on-going challenge that can be also solved by engaging the marketplace in your business and brand. Listening to your requests, insights, complaints and praises. It has been emphasized by many sales experts that dropping your prices will not endear you to customers for the long run. You won’t convert them into clients.
In the meantime, in addition to your tireless efforts, elected officials also realize that without you and your business, their states, counties and towns will not fare well in today’s business environment.
Consequently, they’re stepping up to the plate with help. Earlier
this summer, Bergen County Executive Jim
Tedesco announced two measures to provide additional support for small
businesses in an effort to fight inflation and further strengthen the County’s
strong economic position.
When announcing these two measures, Tedesco stated, “In Bergen County, small business is
the heart of both our economy and community. My administration remains
committed to doing everything in its power to help the backbone of our economy
not only sustain their economic position, but also experience new growth so
they can truly thrive in a 21st century economy.”
The first measure will reauthorize a new $235,000 round of
funding to Bergen Community College to continue an initiative that provides
free consulting and real-time data services to small businesses as part of the
Bergen Business Resource Network. The program offers Bergen Community College
business students real world experience serving as the first point of contact
for small businesses seeking assistance. Tasks include assisting business
owners with a data tool, known as “SizeUp,” that breaks down how a business
compares against their competition within a specific industry, and referring
business owners to various partners in the network including the Small Business
Development Center at Ramapo College, SCORE, NJEDA and more. Students also
provide social media and web service support, while helping connect business
owners with free consultants through Bergen Business Resource Network partners
during consultations. To date, the program has assisted over 200 businesses.
Speaking on the success of the partnership, Bergen Community College President Dr. Eric
Friedman said, “I’m grateful that our Bergen County
government partners have embraced the opportunity to collaborate on economic
development work. This program represents a living, breathing example of the
importance of partnership between education and government for the betterment
of community and the workforce. I’m especially proud of our students, who are
using what they have learned to make a demonstrated impact in the communities
we live, and to make a positive impact on our county’s businesses. The County’s
continued support - both through advocacy and grant funds - have helped make
the College an engine firing on all cylinders for economic development in
Bergen County.”
Tedesco also announced that the County will be rolling out a new
small business grant program in early September. Under this new program, the
County will provide $2.5 million to local small businesses with priority given
to businesses registered with the state as Women Business Enterprise, Minority
Business Enterprise, Veteran-Owned Small Business, and Service-Disabled
Veteran-Owned Small Business. Individual businesses meeting the criteria will
be eligible for up to $2,500 per applicant. Further details are set to be
announced in late August.
Tedesco unveiled both measures at a recent Bergen County
Economic Development forum to recognize success stories of the 2020 Bergen
County CARES Small Business Grant Program and the first group of Bergen
Community College students who served as facilitators for the Bergen Business
Resource Network. These two announcements build upon substantial action already
taken by the County’s Economic Development team over the past two years to
brunt the financial impact of the pandemic and further enhance opportunities
for overall economic growth in Bergen County. In 2020, the County rolled out
several phases of the Bergen County CARES Small Business Grant Program,
providing relief to businesses with 30 employees or less by allowing them to
apply for funding to cover rent, property mortgage, and utilities expenses.
Over the duration of the program, $55.6 million dollars were allocated to
nearly 4,000 Bergen County businesses employing nearly 80,000 people. Then
earlier this summer, the County unveiled the Bergen County Economic Resiliency Advisory
Committee, bringing together industry leaders to identify options,
alternatives, and recommendations to maintain our County’s position of economic
strength and build upon it for sustainable growth.
“The engine of our local economy are the more than 47,000 small
businesses who call Bergen County home,” said Commissioner Chairwoman Tracy Zur. “Both of these measures will provide
no-cost critical assistance to help these businesses thrive and expand, open
the door for start-ups businesses, and attract businesses from outside Bergen
County. I applaud the County Executive for continuing to find ways to make
Bergen County a great place to live, work, and raise a family.”
Both new programs will be funded utilizing federal American
Rescue Act monies.
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