NEWS
Kocsi outlines challenges facing N.J. small businesses as he retires
James A. Kocsi, 60, who retired Dec. 31 after nearly a decade as New Jersey’s district director for the U.S. Small Business Administration, said the challenge for the Garden State’s small businesses remains “how quickly the economy recovers. Banks are still reluctant to lend, to a degree, and until they see a real strong sustained six months’ worth of job growth and positive economic news, they are still holding back.”
Kocsi, who lives in Woodbridge, said he and his wife plan to move to Calabash, N.C., where they own property, and plan to build their retirement home.
Adam Farrah, vice president of the UCEDC, in Union — one of the SBA’s small-business lending partners — said, “Jim was absolutely the best. I can’t tell you how much we will miss this guy. He answered his own phone, he was completely responsive, he was tied in and he knew everyone.”
Farrah said whenever a new program came down the pike from Washington that New Jersey could benefit from, Kocsi was quick to jump on it and get it rolled out for the state’s lenders and businesses.
Kocsi began his SBA career in 1976, as a loan officer in the New Jersey office. In 1983, he joined SBA’s New York office in government contracting programs, and in 1991 was named assistant regional administrator for procurement. From 1993 to 1995, Kocsi directed Northeast regional procurement programs, and in 1995 returned to the New Jersey district office in Newark as deputy district director. He was appointed state director in January 2001.
John Villios, an attorney for the New Jersey district office, has been named interim district director while the SBA searches for a replacement for Kocsi.
E-mail Beth Fitzgerald at bfitzgerald@njbiz.com
Take Advantage of the HIRE Act
Did you hire or re-hire employees in 2010? You may be eligible for a tax credit.
IRS Helps Small Employers Claim New Health Care Tax Credit;
Forms and Additional Guidance Now Available on Small Business Health Care Tax Credit
http://www.irs.gov/newsroom/article/0,,id=231928,00.html?portlet=7
New Jersey Business & Industry Association 2011 Business Outlook Survey
Business Activity Strengthened in 2010, but Outlook Is Weak as Employers Struggle to Shake Off Recession
http://www.njbia.org/pdf/bos2011.pdf
November 27 is Small Business Saturday!
Small Business Jobs Act of 2010
On September 27, 2010, President Obama signed into law the Small Business Jobs Act, the most significant small business legislation in over a decade. The new law will provide critical resources to help small businesses continue to drive economic recovery and create jobs. The new law extends the successful SBA enhanced loan provisions while offering billions more in lending support, tax cuts, and other opportunitie for entrepreneurs and small business owners.
Small Business Jobs Act of 2010 Fact Sheet
Small Business Jobs Act Contracting Fact Sheet
NJSBDC of Northwest Jersey instructor, Joseph Rosenberg featured in Wall Street Journal
Association of Small Business Development Centers (ASBDC) Hails Passage of Small Business Job Act (H.R. 5297)
Bill Will Result in More Direct Assistance for Small Businesses through the National Network of Small Business Development Centers (SBDCs)
What the 2010 Census Will Reveal About the Evolution of the United States of America
It's hard to escape the news about the 2010 Census. Besides multiple mailings to every household in the country, the government has also launched a major advertising campaign with a budget of over one hundred million dollars.
But what does the 2010 Census mean to the advertising and marketing community?
- What can we expect to learn from the 2010 Census?
- What will it reveal about the composition of the United States and Hispanics, the fastest growing minority group?
- How can we use this data to improve our marketing efforts?
Occupational Outlook 2010-2011 Edition
The Occupational Outlook Handbook is a nationally recognized source of career information, designed to provide valuable assistance to individuals making decisions about their future work lives. The Handbook is revised every two years.
NJBIA Basic Skills Training Program
Training for Your NJ Employees At No Charge to Your Company
Get basic-skills training for your employees at no charge to your company through NJBIA's partnership with the NJ Community College Consortium and the NJ Department of Labor. Your employees can be trained at one of the State's 63 community-college locations or possibly at your own facility. Training is available in:
- Computer applications (Windows, Outlook, Excel, Word)
- Mathematics and measurement
- Communications (verbal, written and customer relations)
- English as a second language
Understanding an IRS Tax Audit
The IRS has a new video series "Your Guide to an IRS Audit" which follows three hypothetical small business taxpayers step-by-step through the audit process.
New Jersey Small Business Development Centers Step Up with SBIR Training to Fill Void for Science and Technology Businesses
NEWARK, NJ – The New Jersey Small Business Development Centers (NJSBDC), headquartered at Rutgers Business School, has announced that together with longtime partners EisnerAmper, LLP and Lowenstein Sandler PC, it will step up and reintroduce SBIR/STTR training seminars this fall. Three programs are planned beginning October 15th. For nearly 10 years, the New Jersey Commission on Science & Technology (CST) had collaborated and contracted with NJSBDC to provide specialized training in the writing of SBIR and STTR research and development grant proposals, as well as proposal preparation assistance. Regrettably funding for CST was eliminated from the 2011 state budget.
The closing of CST has resulted in the loss of state funding to continue SBIR training and proposal assistance. The most recent training seminar was held last November. The closing of CST also has led to the loss of millions of dollars for its popular venture funding and fellowship programs, which have been eliminated. SBIR and STTR grants are consequently now more important than ever to New Jersey entrepreneurs as the best source of early stage risk capital to fund the development of promising new technologies.
According to NJSBDC State Director and Chief Executive Officer Brenda Hopper, “The SBIR/STTR training sessions have been very successful in helping New Jersey’s small science and technology businesses to win millions of dollars in federal grant awards to help develop their technology.“ During 2009, recent training participants brought more than $2.7 million in SBIR/STTR awards to New Jersey and by June 2010 that number had already been surpassed.
Through the SBIR program, entrepreneurs can receive more than $1,000,000, in two competitive phases over a period of three-four years, to develop their technology and reduce its technical risk. The program begins with Phase I, which is typically a six-month project funded at up to $150,000 and sometimes more, to demonstrate the scientific and technical feasibility of the proposed technology.
“Many entrepreneurs are intimidated by the thought of writing a competitive proposal,” notes Randy Harmon, lead NJSBDC technology commercialization consultant. “However, companies with a breakthrough or innovative technology that can solve a specified problem or address an interest area of one of the 11 participating federal R&D agencies should not be deterred.”
“Assisting small businesses with obtaining SBIR and STTR grants is a way to bring New Jersey taxpayer dollars back to the state that might otherwise might go to New York, Pennsylvania, Massachusetts, California or other states,” adds Deborah Smarth, NJSBDC associate state director and chief operating officer.
The fall training season will begin with a half-day Introduction to SBIR/STTR and Proposal Writing seminar on October 15 at the NJEDA Commercialization Center in North Brunswick. A two-day program will follow on November 18 and 19 at the NJIT Enterprise Development Center in Newark. The two-day program will feature the full-day Phase I Proposal Development and Cost Proposal Preparation seminars delivered by the nationally recognized Greenwood Consulting Group. For more information and online registration, visit www.njsbdc.com/sbir.
NJSBDC of Northwest Jersey client wins NJAWBO's Women's Business Center's S.E.E.D. Grant competition
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Local businesswoman, Sherri Putnam of Sparta, was awarded 1st place honors in NJAWBO's Women's Business Center's S.E.E.D. Grant competition for her business, HCI Consulting, LLC, which specializes in the implementation, training and support of NextGen Healthcare Information Systems Electronic Health Records and practice management software. Read the Full Press Release.
Twitter, Facebook or LinkedIn? Finding the Right Fit for Your Small Business
Thinking of investing in social media but struggling to know where to start?
According to a December 2009 survey by Ad-ology, 46% of small business owners said they wish they knew more about social media. And, while coming up with a social media strategy is one thing (the resources at the end of this article provide pointers on this), it also helps to have a basic understanding of what each of the major social media sites can and can't do for your small business and its customers.
Here's a quick 101 on how to best leverage the top three social networking sites - Twitter, Facebook, and LinkedIn.
Two New Tax Benefits Aid Employers Who Hire and Retain Unemployed Workers
WASHINGTON - Two new tax benefits are now available to employers hiring workers who were previously unemployed or only working part time. These provisions are part of the Hiring Incentives to Restore Employment (HIRE) Act enacted into law today.
Find out what qualifies as a deductible business expense, including depreciation
Business Expenses
Business expenses are the cost of carrying on a trade of business. These expenses are usually deductible if the business is operated to make a profit.
What Can I Deduct?
To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary.
Advance & Rutgers Report: An Analysis of Economic Business & Demographic Trends
Post-Recession America: A New Economic Geography?
America is just now starting to invent its post-recession economic future. The Great 2007-2009 Recession was the worst economic downturn since the Great Depression. That is not surprising since the two largest absolute annual private sector employment losses since payroll statistics were first compiled in 1939 took place in 2009 and 2008. But what is surprising is that the Great Recession may also turn out to have been the great equalizer across the nation's states and regions. A number of America's former economic high-flyers were grievously wounded during the downturn and their weaknesses exposed. As a result, conventional assumptions about their future economic prospects-as consistent national growth leaders-may now come into question.
For that reason, today marks an important milestone in the enactment of the Health Insurance Reform Law. The U.S. Department of Health and Human Services (HHS) has unveiled HealthCare.gov, an innovative new on-line tool, created under the Health Insurance Reform Law, that connects families with new state-specific information and resources, helping them take control of their health insurance situation and gain access to quality, affordable coverage. This website has been setup to answer all of your questions about the law and how it impacts your family. In addition it is the first website to provide consumers with local public and private health coverage options tailored specifically for their needs in a single, easy-to-use tool. As a proud supporter of this legislation I am thrilled to see that such an easy to use website has been developed to educate New Jerseyans on this new law and their local health care options.
Governor Chris Christie Signs S-1813 to Protext New Jersey Small Businesses and Reform UI Trust Fund
Governor Chris Christie has signed S-1813 into law to protect New Jersey small businesses by preventing a devastating tax hike of up to $683 per employee for employers who fund the Unemployment Insurance Trust Fund.
Sam's Club will offer small-business loans
Program will focus on minority-, women- and veteran- owned businesses
Sam's Club said Tuesday it will offer small business loans of up to $25,000 to its small business members. The division of Wal-Mart Stores Inc., which is based in Bentonville, Ark., is testing a program with Superior Financial Group, one of 13 federally licensed nonbank lenders, and will offer $5,000 to $25,000 loans to members who qualify.
Follow Up: 1099 MISC Filing Requirements for State & Local Governments
This IRS Internal Webinar will give you necessary information on:
- Who is required to file?
- What type of entities do I send a 1099 MISC to?
- How do I secure their tax identifying number?
- What type of payments are subject to 1099 MISC reporting?
- What is Backup Withholding?
- How do I deposit Backup Witholding?
NJSBDC Procurement Event a Success
Did you know that NJSBDC has a Procurement program? The New Jersey Small Business Development Centers network offers consulting and other assistance to established small businesses who are interested in selling their goods and services to the federal, state, or local government. Clients are provided individual virtual counseling sessions, workshops and seminars, and referrals to public, state and federal government procurement and supplier diversity web sites.
Are You Look for Funding? Golden Seeds May Be Your Answer
We Provide
- Capital for seed and early stage companies
- Investment returned above top quartile funds in the same vintage+
- Advisory service for companies with over $5mm in revenues
- Educational programs for entrepreneurs and investors
- Courage to support innovation in all aspects of business
Employers Association of New Jersey
The Employers Association of New Jersey (EANJ) is the only nonprofit association in the state of New Jersey dedicated exclusively to helping employers make sound and responsible employment decisions through education, informed discussion and training.
Pro Bono Partnership: Assistance for Non-Profits
THE PRO BONO PARTNERSHIP provides nonprofit organizations in Connecticut, New Jersey and New York with free, expert business legal advice they cannot otherwise afford, enhancing their capacity to improve local communities and provide essential programs for the poor and disadvantaged.
Adopting Green in Your Business
As consumers become more environmentally conscious and energy costs continue to rise, businesses are rapidly adopting environmentally friendly business practices.
Many business owners fear it's too costly to adopt eco-friendly practices, however, small investments can reap large gains. Green practices can save money while creating happier customers and a healthier planet.
These resources help small businesses expand their businesses while saving energy costs.
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