PRESS RELEASE: 2016-2017 STATE BUDGET INCLUDES INCREASE FOR AMERICA’S SBDC NEW JERSEY
2016-2017 STATE BUDGET INCLUDES INCREASE FOR AMERICA’S SBDC NEW JERSEY
Small Business Development Centers Network Lauds Action by Legislature and Governor
July 5, 2016 (Newark, NJ) – The FY 2016-2017 Appropriations Act was introduced and passed by the Legislature with an increase for the New Jersey Small Business Development Centers (NJSBDC) network, also known as America’s SBDC New Jersey. The increase remained intact after the Governor’s review and approval of this year’s state budget. The Governor had proposed a budget in February which reduced the allocation to this program.
“We are extremely grateful that the Legislature once again gave its full support for the program’s efforts to assist small business owners and entrepreneurs across New Jersey and that the Governor concurred,” said NJSBDC network Chief Executive Officer and State Director, Brenda B. Hopper.
“Communicating with some of the network’s key advocates at the Legislature was extra important this year,” said NJSBDC Chief Operating Officer and Associate State Director, Deborah Smarth. “It was very gratifying to see that members of the Legislature acted on our network’s request and provided a restored increase to $500,000, the same funding level as enacted during last year’s budget process.” Smarth is the chief advocate for the program at the State House in Trenton.
The Small Business Development Centers Senior Leadership Team said that the increase will ensure that New Jersey’s full federal share of funding from the U.S. Small Business Administration (SBA) is received by the NJSBDC for the delivery of one-on-one management consulting, training and other forms of technical assistance to small businesses and entrepreneurs around the state. The program is part of a national network of SBDCs, America’s SBDC.
The state network counseled and trained more than 10,000 small business owners and entrepreneurs in 2015, helping them to retain and create more than 16,000 jobs. Clients received close to 17,000 total counseling hours and 554 SBDC clients started new businesses.
About America’s SBDC New Jersey (NJSBDC)
The New Jersey Small Business Development Centers network, one of the first pilot projects in the nation, has provided comprehensive services and programs for small business in New Jersey for 37 years; SBDC experts help businesses expand their operations, manage their growth, or start new ventures. Expert staff and practicing business consultants help small business owners and entrepreneurs to develop business plans, find financing, accounting and financial analysis, identify new markets, initiate marketing strategies, find procurement and international trade opportunities, learn green sustainability practices, commercialize technology and develop an E-commerce presence. This non-profit network, a federal-state-educational partnership, leverages funding from the U.S. Small Business Administration (SBA), the N.J. Business Action Center (BAC), the educational institutions that host the 12 centers as well as other private sponsorships and additional private/public grants. The NJSBDC Headquarters, located at the Rutgers Business School in Newark, NJ, oversees the network which is an accredited member of the national network of America’s SBDC. Up to 1,000 centers and satellite offices serve small businesses across the country, generating jobs, new businesses and economic development. Visit www.njsbdc.com
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