New Jersey is known for being a major hub for both large and small businesses that are based on a wide range of industries. While your business might operate and serve customers beyond the state lines, there are some distinct benefits that you can enjoy from choosing to register your business in New Jersey. Exploring the benefits the state provides to new business owners helps you maximize your opportunities to grow and expand your company.
Start Your Company In a Thriving Population
Don’t let the smaller size of New Jersey fool you. The state has one of the densest populations in the country, which adds up to more prospective customers for your company. On top of being able to market your business to the local residents, you can also benefit from being in one of the states with a high tourism market. Registering your local eatery or trendy boutique in New Jersey can give you an easy way to begin profiting soon after you open your company’s doors to the public.
Receive Advisory Services and Support
One of the main reasons why New Jersey is known for being entrepreneur-friendly is that the state offers numerous services for helping small businesses thrive. Whether you are looking to secure funding to expand your company or are wondering about new technology that could benefit your team, you’ll find all the information you need through the New Jersey Small Business Development Centers network. Being able to receive comprehensive assistance from knowledgeable professionals makes it possible to make strategic decisions that drive your company further toward its goals.
Comply With New Jersey Tax Requirements
As a new business owner, you never want to make the mistake of being out of compliance with the local tax laws. All businesses in the state must register with the New Jersey Department of Taxation’s Division of Revenue and Enterprise Services. Once you do, you’ll receive a New Jersey Tax ID for your company and a Certificate of Authorization to Collect Sales Tax along with information regarding the state tax and employer contributions that your company is responsible for covering.
Gain Access to Funding Opportunities
The state’s business-friendly stance also expands to make sure that people have what they need to get started as an entrepreneur. The Small Business Fund provides up to $500,000 in funding for creditworthy businesses, and the program has specific circumstances in place that are especially beneficial for minority or women-owned companies.
You can also find several kinds of grants offered to new business owners who choose to register in New Jersey as a start-up company. Partnering with a small business mentor as soon as you begin planning your start-up can help you find state-specific funding opportunities that allow you to begin your entrepreneurial career on a strong foundation.
Every decision you make impacts the success of your business. As an entrepreneur, you never want to let an opportunity to grow your business pass by. When you have a question about registering your business and how to make an even bigger impact in New Jersey, remember to reach out to our small business counselors to get the answers and mentoring you need to find success.