Businesses with a majority owner who identifies as LGBTQ+ can now apply for certification as a LGBTQ+-owned business. Certification can make a business eligible to participate in select set-aside or goal-based contracting initiatives offered by State agencies. Certification can also provide a competitive advantage when bidding for contracts elsewhere. Other eligibility criteria apply.

Employers willing to hire and train dislocated workers with identifiable skills gaps can receive up to $20,000 in wage reimbursement per worker. Through the Return and Earn program, employers are reimbursed for 50% of the wages paid for regular hours worked during their training period.

Training periods can last up to six months, and wage reimbursement is capped at $20,000 per Return and Earn employee. Prospective employers must receive NJDOL approval for their training plan in order to be eligible for the wage reimbursement.

A recently enacted law eliminates the requirement for recognized federal S corporations to make a separate S corporation election with New Jersey. Federal S corporations will be automatically recognized as S corporations by New Jersey unless the corporation opts out. To opt out, 100% of the shareholders must consent. The entity may opt out at any time during the tax year or at any time on or before the due date or extended due date of the S corporation return.

The Division of Taxation has published a technical bulletin and FAQ document to assist companies with the resulting procedural changes.

Early-stage, product-based technology companies in certain industries may be eligible to have up to $500,000 in direct investments matched by the Angel Match program from the New Jersey Economic Development Authority. The funding can be used for product development, marketing, research and development, and other working capital needs.

Applications are accepted on a rolling basis. Eligible companies must be located in physical office, co-working or incubator space in New Jersey. Additional eligibility requirements apply.

Business owners and their investors can receive guarantees on their loans from the NJ Entrepreneur Support Program. The program provides guarantees totaling a maximum of $200,000 on investor loans advanced for working capital to businesses.

Completed applications from investors for guarantees will be considered on a first-come, first-served basis, including the ability to consider multiple guarantees per company towards the $200,000 company exposure cap.

Please schedule a consultation with an Innovation Officer by sending an email to njesp@njeda.com to determine your eligibility for the program.

New Jersey restaurants, retail stores, and personal care businesses (for example, salons and spas) that operate from a commercial location can get free consulting services from the Small Business E-commerce Support Program.

Businesses that operate from a physical commercial location in New Jersey can receive assistance in the following areas:

• Website Development
• Website Optimization
• E-commerce Platform
• Online Ordering Platform
• Online Appointment Booking Platform
• Digital Marketing Plan

Other eligibility criteria apply.

Calling all venture capitalists, private equity investors, and New Jersey startups who want to access capital from the New Jersey Innovation Evergreen Fund (NJIEF). The NJIEF is catalyzing up to $600 million to support early-stage innovation-focused businesses in New Jersey, while creating mentoring, networking, and educational opportunities to help position these companies for success.

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The law now requires local officials to conduct construction inspections within three days of a request. If they miss that deadline, the developer making the request may contract with private on-site inspection agencies to complete the inspection. Final approval on a certificate of occupancy will still come from local construction officials.

Providing trash and recycling receptacles outside your store and in parking areas can reduce litter on your property. This is one of many tips in a new, freely available guide that can help your business become more sustainable and environmentally friendly.