Business Buzz
By Rich Baehrle
The Beatles once sang:
“Help, I really need somebody
Help, not just anybody
Help, you know I need someone
Help…”
That is the cry we often hear from people looking to open a business or expand an existing one. The maze of federal, state and local incentives and grants is often arduous and cumbersome to navigate.
While many programs exist, as a businessperson, you need to know where to look for information and how to properly apply to obtain funds or advice. This article will guide you to some helpful resources because the last thing you want to do is “ready, fire, aim” when establishing a business.
Your first step is to analyze your needs. Then, seek help from the right people. When you discover various programs available, carefully weigh the pros and cons of each.
Some economic programs are excellent, but you must read the fine print carefully and fully understand all terms and conditions. Choosing the right business and development team is paramount. Just because you have a friend who is a Realtor, attorney, or accountant doesn’t mean they are the best choice for you.
The only question you should be asking them is whether they have experience with the type of entity or development you are planning. If they lack the proper experience, find the best team possible. Choosing the wrong people can be costly.
The Atlantic County Economic Alliance (ACEA) was formed to be a resource and clearinghouse for people seeking assistance with exploring available programs.
Start by reaching out to Lauren Moore, ACEA president. He can be reached at 609-569-3712, 609-343-2157, or via email at lmoore@aceanj.com. Max Slusher (mslusher@aceanj.com) and other team members are also available to assist. On a confidential basis, you can meet with them, describe your goals and learn about programs that can help bring your project to fruition.
There are many available incentive programs depending on the number of employees you plan to hire. Two key contacts can assist you:
- Eric Ditizio, New Jersey Department of Labor, Eric.Ditizio@dol.nj.gov
- Fran Kuhn, executive director, Atlantic County Workforce Development, Kuhn_francis@aclink.org or 609-485-0153, ext. 4805
Some programs offered through the Workforce Development Board (WDB) include:
- On-the-Job Training (OJT): Wage reimbursement up to $10,000 per employee, with monthly reimbursements to the employer. Contact Eric Ditizio at Eric.Ditizio@dol.nj.gov or 609-225-4630.
- Incumbent Worker Training (IWT): 50% reimbursement for job training costs for upskilling employees through approved New Jersey training providers.
- Registered Apprenticeship (RA): Wage reimbursement up to $10,000 in total.
- Transitional Jobs (TJ): 100% wage reimbursement up to $6,000 if you hire a long-term unemployed person. For a complete list of programs, contact Fran Kuhn or Eric Ditizio.
If you are hiring, you may qualify for reimbursements. The New Jersey Business Action Center (NJBAC) also offers assistance. Jef Buehler, assistant director, helps businesses navigate state programs and grants. He can be reached at Jeffrey.Buehler@sos.nj.gov, or 609-633-6942. Visit http://www.nj.gov/state/bac for more information.
The New Jersey Economic Development Authority (NJEDA) is another resource. Rick Tighe, business development officer, can be contacted at Richard.Tighe@NJEDA.gov, or 609-744-8654. Jabari Adams, small business liaison, is also available at Jabari.Adams@NJEDA.gov.
Both are excellent sources for information on state grant and loan programs.
The Chamber of Commerce of Southern New Jersey is hosting a luncheon 11:30 a.m. Thursday, Feb. 6, at Medford Village Country Club. Rick Tighe and Jabari Adams will be present. To attend, contact Colleen Daley at 856-424-7776, ext. 129 (cdaley@chambersnj.com) or Lynn Bradley (lbradley@chambersnj.com). This event will be a great opportunity to gather information and ask questions.
The Atlantic County Improvement Authority (ACIA) offers programs to help business owners. Executive Director Tim Edmunds can be reached at 609-343-2184 or Edmunds_Timothy@aclink.org.
One attractive option is the Section 108 Loan Program, which offers funds ranging from $35,000 to $400,000. These can be used for working capital, building renovations, or new equipment.
The Pleasantville Urban Enterprise Zone (UEZ) assists with business growth in specific areas. Businesses can potentially secure loans at below-market rates and charge customers a reduced sales tax of 3.5%. Contact Jacqueline Amado-Belton at 609-677-4925 or jamado-Belton@pleasantvillenj.us for more information.
The Small Business Development Center at Stockton University is another valuable resource. Mark Rizzo can be reached at Mark.Rizzo@stockton.edu or 609-626-3889.
Atlantic County has several Chamber of Commerce organizations, including:
- Greater Atlantic City Chamber of Commerce: Contact Michael Chait, executive director, at 609-345-4524 or info@acchamber.com.
- Chamber of Commerce of Southern New Jersey: Contact Heather Sanderson at 856-424-7776 or hsanderson@chambersnj.com.
Other organizations to consider include the Somers Point Business Association, Northfield Business Association, Ocean City Chamber of Commerce, Cape May County Chamber of Commerce and Margate Chamber of Commerce. Networking through these organizations can provide valuable information and connections.
When attending events, bring business cards, be visible and ask for introductions to key individuals. Learn about others and how you can help them and it will often come back threefold.
For those seeking employment, the Atlantic County One Stop Career Center (Atlanticonestop@dol.nj.gov) offers vocational training, resume assistance, GED preparation, college tuition waivers and job matching services. Contact them at 609-813-3932.
As a commercial and investment Realtor with 40 years of experience in South Jersey, I’ve been involved in hundreds of transactions. The biggest lesson I’ve learned is to do your homework before pursuing any opportunity. Mistakes can be costly. Never get married to an idea. If the green lights aren’t there, be prepared to walk away. If you proceed, create a plan of action, but remain flexible.
Remember to support your local businesses, especially small businesses.
Rich Baehrle, of Berkshire Hathaway Fox and Roach, can be reached at 609-266-6680 or 609-641-0011. Email richardbaehrle@gmail.com or see
www.getrichinrealestateSJ.com
