Impact

NJSBDC Yearly Economic Impact Reports

Discover the powerful influence of the New Jersey Small Business Development Center (NJSBDC) through our annual Economic Impact Reports. Each report provides an in-depth look at the tangible results of our commitment to supporting and advancing small businesses across New Jersey, including job creation, capital infusion, and sales growth. Delve into detailed insights and success stories that exemplify our network’s sustained dedication to fostering a thriving small business community statewide.

2023 Impact

FACT SHEET (FEDERAL FISCAL YEAR 2023) NETWORK-WIDE ECONOMIC IMPACT DELIVERABLES

Guided by NJSBDC State Director/CEO Kelly Brozyna and endorsed by NJ Federal Senators Cory Booker and Robert Menendez, the NJSBDC has again proven its significant role in bolstering New Jersey’s economy. The program’s achievements between January 1, 2023, and December 31, 2023, are outlined below:

  • Facilitated over $1.95 billion in sales revenues, underscoring the robust activity and success of our clients.
  • Contributed millions in business tax revenues, with an estimated $129,392,892.81 in sales tax revenues directed to New Jersey’s treasury, reflecting our substantial economic impact.
  • Counseled 5,103 clients one-on-one, showcasing our commitment to providing personalized and direct business support.
  • Delivered 18,667 total counseling hours, a testament to our dedication to in-depth service provision.
  • Assisted 6,499 established businesses, aiding in their sustained operation and growth.
  • Helped 361 clients launch new businesses, fostering a vibrant and entrepreneurial environment.
  • Sponsored 537 training sessions statewide, demonstrating our expansive reach and versatility in business education.
  • Hosted 4,715 individuals/small business owners at our training seminars, covering diverse topics crucial for business development and growth.
  • Supported a total of 8,006 jobs (including both new and retained positions), contributing significantly to job creation and economic stability.
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2020-2022 Impact

FACT SHEET (FEDERAL FISCAL YEAR 2020 – 2022)
NETWORK-WIDE ECONOMIC IMPACT DELIVERABLES

The NJSBDC program, which is composed of 11 centers (statewide), provides management consulting, training, and other technical assistance to established small businesses and aspiring entrepreneurs in all 21 counties.  Impact of the program (Jan. 1, 2020 – Dec. 31, 2022) is summarized below:

  • Counseled 13,426 clients (one-on-one); 
  • Delivered 42,730 total counseling hours;
  • 15,350 of all clients were established businesses;
  • 857 clients of NJSBDC started a new business;
  • Sponsored 2,349 training sessions statewide;
  • 41,460 individuals/small business owners attended training seminars (on various business development/growth issues);
  • 3,217 Total Jobs supported (SBDC clients’ employees);
  • Facilitated $275,120,426 in total financing (loans & equity) for its clients;
  • Clients generated more than $7.2 billion in sales revenues, generating millions of dollars in business tax revenues to the overall Treasury and an estimated $480 million (conservatively) in sales tax revenues to NJ.

Note:  Data impact from core SBA grant & other grant activity

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