Scarinci Hollenbeck, LLC
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Author: Scarinci Hollenbeck, LLC
Date: May 25, 2018
The Firm
201-896-4100 info@sh-law.comSmall businesses play a vital role in the New Jersey economy. In conjunction with National Small Business Week, the Small Business Administration (SBA) recently published updated small business profiles for each state. In New Jersey in 2015, small businesses employed 1.8 million people or nearly half of the private workforce. Firms with fewer than 100 employees accounted for the largest share of small business employment.
Unfortunately, the SBA profile for New Jersey also reveals that for every newly-created New Jersey startup, another small business closes. In the third quarter of 2016, 6,199 new establishments were created, generating 25,490 new jobs in New Jersey. During the same period, 6,320 establishments exited resulting in 21,603 jobs lost.
There are many ways to help ensure that your small business succeeds. While certainly not the most flashy or exciting, legal compliance is one of them. For New Jersey startups and other small businesses, even small regulatory fines or legal judgments can spell doom. Accordingly, it pays to devote time and resources to reducing your legal risks. Below are a few key tips:
New Jersey small businesses will often benefit from working with an experienced business attorney. If you have any questions or if you would like to discuss the matter further, please contact me, Jeffrey Cassin, or the Scarinci Hollenbeck attorney with whom you work at 201-806-3364.
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