How Small Businesses in NJ Go from Survival Mode to Recovery Mode

Middletown Township Committee members practicing social distancing on TakeoutThursday

As they look to do better from latest federal aid package, the big question for small business owners concerns access to working capital

By John Reitmeyer, NJSpotlight

The adoption of a new federal aid package with billions of dollars in new funding for small businesses comes just as officials in New Jersey are beginning to give more attention to what the state’s recovery from the coronavirus pandemic will look like.

The new aid package signed into law by President Donald Trump includes at least $250 billion for small businesses, as well as significant funding for hospitals and testing initiatives that are considered crucial for addressing both public health and economic recovery goals.

But its enactment comes even as major questions remain about how an earlier round of federal funding was distributed to businesses. They include whether some of the hardest-hit states, including New Jersey, were shorted at the expense of others. Meanwhile, New Jersey government itself is still reeling and in need of direct aid from the federal government, according to Gov. Phil Murphy.

Read more

Posted: April 27th, 2020 | Author: | Filed under: COVID-19, Economy, New Jersey | Tags: , , | Comments Off on How Small Businesses in NJ Go from Survival Mode to Recovery Mode

Comments are closed.