Scarinci Hollenbeck, LLC
The Firm
201-896-4100 info@sh-law.comFirm Insights
Author: Scarinci Hollenbeck, LLC
Date: January 3, 2017
The Firm
201-896-4100 info@sh-law.comFor New Jersey business owners, the future looks bright . . . for the most part. The New Jersey Business & Industry Association (NJBIA) recently published the results of its Business Outlook Survey. The general consensus is that business owners are optimistic about their companies’ future success, but remain leery about the NJ economy.”Our members tell us they expect hiring, sales and profits to rise in 2017. However, they still report concern about the state’s economic future,” said NJBIA President & CEO Michele Siekerka. The annual survey polled 1,046 NJBIA members. In total, 62 percent are considered small businesses, with less than 25 employees.
Below are several key findings:
On the negative side, many New Jersey businesses expressed concern about the State’s economy and the resulting challenges it will bring. Only 20 percent believe the economy will perform better in the first six months of 2017, while 32 percent believe it will perform worse.
Minimum wage hikes also ranked high on members’ list of concerns. Overall, 70 percent of business owners reported that increasing New Jersey’s minimum wage would impact their businesses. A higher minimum wage would result in staff reductions and price increases, as well as, reducing employee working hours and the additional automation of services, according to the survey.
Business owners also expressed concerns about escalating healthcare costs and property tax bills. The majority of business owners believe that New Jersey is not competitive with other states in several key categories. According to 87 percent of those surveyed, the State is worse in taxes and fees. Another 73 percent perceive New Jersey to be worse in attracting new business, while 63 percent said the State is worse in controlling healthcare costs.
Are you a business owner in New Jersey? Do you have any questions? Would you like to discuss the matter further? If so, please contact me, Michael Jimenez, at 201-806-3364.
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Ongoing economic uncertainty is forcing many companies to make tough decisions, which includes lowering staff levels. The legal landscape on both the state and federal level also continues to evolve, especially with significant changes to the priorities of the Equal Employment Opportunity Commission (“EEOC”) under the Trump Administration. Terminating an employee is one of the […]
Author: Angela A. Turiano
While filing annual reports may seem like a nuisance, failing to do so can have significant ramifications. These include fines, reputational harm, and interruption of your business operations. In basic terms, “admin dissolution for annual report” means that a company is dissolved by the government. This happens because it failed to submit its annual report […]
Author: Dan Brecher
Antitrust laws are designed to ensure that businesses compete fairly. There are three federal antitrust laws that businesses must navigate. These include the Sherman Act, the Federal Trade Commission Act, and the Clayton Act. States also have their own antitrust regimes. These may vary from federal regulations. Understanding antitrust litigation helps businesses navigate these complex […]
Author: Robert E. Levy
If you’re considering closing your business, it’s crucial to understand that simply shutting your doors does not end your legal obligations. Unless you formally dissolve your business, it continues to exist in the eyes of the law—leaving you exposed to ongoing liabilities such as taxes, compliance violations, and potential lawsuits. Dissolving a business can seem […]
Author: Christopher D. Warren
Contrary to what many people think, corporate restructuring isn’t all doom and gloom. Revamping a company’s organizational structure, corporate hierarchy, or operations procedures can help keep your business competitive. This is particularly true during challenging times. Corporate restructuring plays a critical role in modern business strategy. It helps companies adapt quickly to market changes. Following […]
Author: Dan Brecher
Cryptocurrency intimidates most people. The reason is straightforward. People fear what they do not understand. When confusion sets in, the common reaction is either to ignore the subject entirely or to mistrust it. For years, that is exactly how most of the public and even many in law enforcement treated cryptocurrency. However, such apprehension changed […]
Author: Bryce S. Robins
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!