NJ Waives SMWVBE Certification Filing Fees for National Small Business Week

TRENTON — During National Small Business Week, State Treasurer Elizabeth Maher Muoio announced that the Department of the Treasury will be indefinitely waiving the $100 filing fee to become certified as a Small, Minority, Woman, or Veteran-owned Business Enterprise (SMWVBE).

“We are kicking off National Small Business Week by opening the door wide for small, minority, women, and veteran-owned businesses who are looking to do business with the State,” said Treasurer Muoio. “Treasury is continuously striving to find ways to make doing business with the state easier and more intuitive, especially when it comes to businesses looking to get their foot in the door and pursue contracting opportunities with the State.”

Beginning June 1, Treasury will start waiving the $100 fee to become registered as an SMWVBE. Registration is already free to become certified as a Disabled Veteran-Owned Business Enterprise. Additionally, New Jersey business owners are already permitted to register their business for as many certification categories as they are eligible. Businesses can apply for certification in any of these categories through Treasury’s online portal.

Certification as a Small, Minority, Woman, Veteran or Disabled Veteran-Owned Business Enterprise provides state-backed documentation of a business’ status and allows businesses to compete in select set-aside or goal-based contracting initiatives offered by State agencies, including the Small Business Enterprise Set-Aside Program, which sets a goal of awarding 25 percent of state contracting and purchase orders to small businesses, and the Disabled Veteran-Owned Set Aside Program, which awards three percent of state contracting and purchase orders to businesses that are owned and operated by service-disabled veterans.

Treasury’s Office of Diversity and Inclusion is also in the process of conducting a statewide disparity study, which may allow for additional set aside programs to be authorized in the future for other subsets of the SMWVBE universe.

“Today’s announcement marks an important step to strengthen the state’s commitment to supporting diverse businesses,” said Hester Agudosi, Chief Diversity Officer. “Waiving the fee associated with minority, women and veteran-owned business certification removes a monetary barrier to accessing the State’s supply chain that is real for many minority, women, LGBTQ, and veteran business owners. As an NJ certified MWBE, both public and private sector organizations and firms have access to your profile for considering solicitations for prime and sub-contract opportunities.”

As part of Small Business Week, Treasurer Muoio also joined other state filing officers from across the country (typically the Secretary of State in most states) for the #BizSchemeSOS awareness campaign launched this week to help businesses and individuals avoid potential scams and fraudulent activity.

Treasury is also launching its own awareness campaign – #Treasury4Biz – to encourage businesses and individuals to avail themselves of the many services the department offers, including free online filing tools through e-government partner Gov2Go, which offers a wide range of mobile and other online self-service applications that cover the entire life-cycle of a business, saving time and providing easier ways to ensure filings are up-to-date with the state.

“During Small Business Week, we are trying to raise awareness about the valuable services provided by our department to help protect New Jersey businesses and enable them to thrive,” said Treasurer Muoio. “The campaign is designed to encourage people to use the services provided by our department to detect and respond to fraudulent practices or activities, as well as the many other services we provide to assist with the day-to-day activities of running a business.”

Treasury is encouraging businesses and individuals to consult with the business services program offered by the department’s Division of Revenue and Enterprise Services, which includes guidance on how to file and register a new business, annual filing requirements, online certification to become a Small, Minority, Woman, Veteran, or Disabled Veteran-Owned Business Enterprise, Uniform Commercial Code filings, and helpful information and answers if a business is worried about being the target of fraudulent activities or scams.

The program also provides the business community with accurate, credible information about their business status, as well as how to maintain good legal standing with the State and avoid unnecessary fees, filings, and suspicious actors.

Treasury’s numerous divisions, including DORES and Taxation, work in tandem with multiple state agencies in offering numerous assistance tools and funding programs to support New Jersey’s business community, including the Department of Labor and Workforce Development, the NJ Business Action Center operated by the Department of State, and the NJ Economic Development Authority.





Greycell Labs, Inc.
Dharmesh & Shweta Vachhani
190 Lincoln Highway, Suite 201
Edison, NJ 08820
Tel: 732-444-0123
Website: www.greylabs.com

Greycell Labs, Inc. was established in 2004. They are a leading IT firm that provides a variety of technology-based services and solutions including IT consulting, business and technology services, custom software design, development, testing, deployment, and integration support to fulfill the needs of local, regional and global corporations of any size.   Greycell offers a suite of software services to help their clients increase process efficiency; enhance workforce productivity; reduce operating costs; boost employee and customer satisfaction; and enable better and faster decisions.   

Greycell’s owners, Dharmesh and Shweta Vachhani, have been clients of the NJSBDC at Rutgers New Brunswick since 2014. They were initially counseled regarding government contracting and certification as SBE, MBE, WBE and 8A businesses. They have regularly participated in Center workshops, seminars and other programs to help their business grow and prosper. More recently, the Center helped the firm develop its social media outreach, engaged the Vachhanis in its Managing Growth Ventures and other experiential learning programs.   

The firm has grown exponentially in both their domestic sales as well as their expansion into global markets. The Vachhanis now have 50 employees and have doubled their sales over the last two years.  In fact, Greycell has been recognized as one of the fastest growing firms in the USA. They were also ranked as #139 among the fastest growing firms out of 500 in New Jersey. Greycell has recently established a development center in India, which will be the headquarters for their Mobile Apps and Cloud/Big Data services.  They are working on expanding the company’s presence in other countries as well.  

Mr. Vachhani sums up his experience and success in just a few words: “Everyone dreams. Ninety-nine percent do not start due to fear of failure. The rest change the world. It is truly wonderful to have resources like the SBDC to help accomplish your dreams.”