What’s Keeping NJ Small Business Owners Up at Night?

In this episode, Kelly and Brian discuss the three small business surveys conducted over a 14-month period by the NJSBDC and the Heldrich Center for Workforce Development at Rutgers University. Included in the podcast are valuable resources to help all small businesses with whatever obstacles are in their way. Listen to the show and then visit the NJSBDC website at www.NJSBDC.com to find out how their counselors can help you run a better business.

Takeaways From Kelly & Brian

• Seven in 10 small businesses are very or somewhat concerned about the pandemic’s impact on their companies.
• Forty percent of business owners are concerned about supply chain disruptions in the future.
• Thirty nine percent of respondents have increased the use of automation technologies to replace tasks or processes previously done by workers, due to the pandemic
• Over two-thirds of woman-owned businesses and 76% of minority-owned businesses cited financial and credit management as a major challenge.
• Nine in 10 minority-owned businesses and eight in 10 woman-owned businesses say they will need access to credit/funding in the next 12 months and help with business planning or strategizing.