
David Edelberg
Partner
201-896-7701 dedelberg@sh-law.comFirm Insights
Author: David Edelberg
Date: April 20, 2021
Partner
201-896-7701 dedelberg@sh-law.comThe New Jersey Legislature is advancing a package of bills intended to help small businesses impacted by the COVID-19 pandemic. The relief measures include both grant programs and tax credits.
New Jersey small businesses have struggled to stay afloat during the pandemic. According to the New Jersey Business & Industry Association (NJBIA), the number of small businesses in New Jersey is down 38.7%, and their revenues are down 41.9%, compared to pre-pandemic January of 2020. The state’s hospitality industry has been particularly hard hit, with 66.9% of small businesses having closed since January 2020.
To help ease the economic strain, New Jersey lawmakers are considering several bills. Below is a brief summary of the New Jersey COVID-19 legislation:
While we are beginning to see the light at the end of the tunnel, many New Jersey small businesses are still struggling. At Scarinci Hollenbeck, we continue to help businesses of all sizes successfully navigate the challenges created by the ongoing COVID-19 pandemic. We will continue to track the status of the proposed COVID-19 relief bill and encourage businesses to contact us to discuss what other options may be available.
If you have any questions or if you would like to discuss the matter further, please contact me, David Edelberg, or the Scarinci Hollenbeck attorney with whom you work, at 201-896-4100.
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