2023: The Year of the Business Owner

On the Chinese zodiac calendar, 2023 is the Year of the Water Rabbit, an astrological sign that signifies ingenuity and adaptability. These traits also aptly describe New Jersey’s business owners who have needed plenty of both these past three years to keep their doors open.

By Michele N. Siekerka, Esq. , NJBIA President and CEO On Dec 29, 2022

Running a business in New Jersey is not for the faint of heart. A combined 82% of businesses in NJBIA’s recent 64th Annual Business Outlook Survey told us this state is “somewhat unaffordable” or “not affordable at all.” This is especially true for our smallest business owners, who often operate on narrower profit margins and are hurt most by high taxes, overregulation, rising inflation, staffing shortages, and supply chain disruptions.

Against this backdrop, NJBIA in 2023 is launching a yearlong grassroots campaign spotlighting the triumphs and challenges that are part of running a business in New Jersey. We want to hear about the ways business owners have adapted to navigate the economic chaos unleashed by the pandemic, what inspires them to work hard and push forward, and what their strategies are to grow their operations and profits in 2023 and beyond.

Most importantly, I want to share these stories in a way that personalizes the business owners who take the risks, raise the capital, and work hard to provide the products, services and jobs that support the state’s economy.

To do this, the NJBIA team and I will be crisscrossing the state in 2023 to meet business owners in their downtown communities, at local chamber of commerce events, and NJBIA Employer Legislative Committee (ELC) meetings. We want to hear directly from the owners who run the Main Street shops, community nonprofits, salons, childcare programs, manufacturing facilities, startups, innovation incubators, and other businesses.

At our NJBIA signature events throughout 2023, we will leverage our discussions with business owners to address their challenges with solution-oriented resources and advocacy. Our special programs kick off in March with “Insights & Outlooks: Forecasting the Future During Times of Great Change,” a collection of TED-style talks exploring top business trends and issues.

Count on NJBIA to use our platform as the boldest and most influential voice for New Jersey business to provide resources and solutions – not only through our powerful advocacy in Trenton, but also through our business services and money-saving programs, including health benefit and retirement solutions, HR support, employee training programs, and more.

Please be part of our efforts to make 2023 the Year of the Business Owner. Join us at one of our upcoming NJBIA events, say hello at a local chamber or ELC meeting, or reach out to me using the Tell Michele feature on NJBIA’s website at njbia.org/resources/tell-michele.

To access more business news, visit NJB News Now.

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