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Tedesco announces economic recovery initiative to help small businesses

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For immediate release:

August 1, 2022

Media contact:

Derek Sands

201-250-6080

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Tedesco announces economic recovery initiative to help small businesses

County reauthorizes Bergen Business Resource Network partnership and announces new small business grant program

recovery

Above: Bergen Business Resource Network BCC student facilitator and county officials at the recent Bergen County Economic Development Forum in Hackensack.

Hackensack, New Jersey – On Tuesday, July 26, Bergen County Chief Executive Jim Tedesco announced two new measures to provide additional support to small businesses to combat inflation and further strengthen the county’s strong economic position. did.

In announcing these two measures, Bergen County Executive Jim Tedesco said:“In Bergen County, small businesses are the heart of both our economy and our communities. We remain committed to doing everything in our power to help you experience positive growth.st Century Economy”.

The first step is to reauthorize a new $235,000 funding round to Bergen Community College to continue its initiative to provide free consulting and real-time data services to small businesses as part of the Bergen Business Resource Network. is. This program provides business students from Bergen Community College with real-world experience as a first point of contact for small businesses seeking assistance. Tasks include helping business owners with a data tool called “SizeUp”. The tool analyzes how a business compares to competitors within a particular industry and introduces business owners to various partners within the network, including the Small Business Development Center at Ramapo His College. , SCORE, NJEDA, etc. The student also provides social media and her web service support to help connect business owners with free consultants through Bergen Business Resource Network partners during consulting. To date, the program has helped her over 200 businesses.

Talking about successful partnerships, Dr. Eric Friedman, Dean of Bergen Community College, said:“We are grateful to our Bergen County Government partners for accepting the opportunity to work together in their economic development work. I am especially proud of our students who are using what they learn to make a demonstrated impact on the communities in which we live and have a positive impact on county businesses. Continued county support through advocacy and grants has allowed the university to start an all-cylinder engine for economic development in Bergen County.”

Tedesco also announced that the county will launch a new small business grant program in early September. Under this new program, the county will provide $2.5 million to local small businesses that are state-registered as women’s businesses, minority businesses, veteran-owned small businesses, and service-disability veteran-owned small businesses. Prioritize companies that have Individual companies that meet the criteria are eligible for up to $2,500 per applicant. Details will be announced in late August.

Tedesco partnered both at the recent Bergen County Economic Development Forum to recognize the success story of the 2020 Bergen County CARES Small Business Grant Program and the first Bergen Community College student group to serve as a facilitator for the Bergen Business Resource Network. announced the measures. These two announcements build on the substantive actions already taken by the county’s economic development team over the past two years to mitigate the economic impact of the pandemic and further enhance economic growth opportunities across Bergen County. increase. In 2020, the county will roll out several phases of the Bergen County CARES Small Business Grant Program, allowing employees to apply for funds to help her 30 or fewer businesses pay for rent, mortgages, and utilities. provided relief by doing so. Over the course of the program, her $55.6 million was allocated to approximately 4,000 Bergen County businesses employing approximately 80,000 people. Then, earlier this summer, the county announced the Bergen County Economic Resilience Advisory Committee, bringing together industry leaders to maintain the county’s economic power status and build it for sustainable growth. Identified options, alternatives, and recommendations for

“Our local economy is driven by over 47,000 small businesses based in Bergen County.” Commissioner Chairman Tracy Zar said“Both of these measures will provide free and vital assistance to help these businesses thrive and expand, opening doors to new businesses and attracting businesses from outside Bergen County. We applaud our county administrators for continuing to find ways to make it the best place to live, work and raise a family.”

Both new programs will be funded using federal American Relief Act funds.

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