Way signs 2 bills promoting growth of small businesses, economic opportunity

Two bills that advance the mission and success of the New Jersey Business Action Center with a crucial focus on the growth of minority-, women- and veteran-owned businesses have been signed by acting Gov. Tahesha Way, according to a Monday announcement from Gov. Phil Murphy’s administration.

The first bill (A3424/S1447) requires the New Jersey Department of Treasury, in partnership with the BAC, to host an “Annual Business Matchmaking Event” to connect small businesses with federal, state, and local government agencies and contractors.

The second bill (A4751/S3400) requires the BAC to establish a mentorship program to match business entities with experience in particular areas with new or less-experienced businesses seeking to learn from a mentor.

“Since the outset of the Murphy administration, we’ve been committed not just to expanding our economy, but to supporting the small businesses and aspiring entrepreneurs who make our economy more diverse, more inclusive, and more dynamic than ever before,” Way said. “As secretary of state, I’ve witnessed firsthand the BAC’s determined work and tremendous impact, which will only be compounded as a result of this tandem of bills. As a result of this legislation, and in partnership with the Department of the Treasury and chambers of commerce across the state, the BAC will continue to help ensure that all New Jerseyans — including minority, women and veteran business owners — are best positioned to reap the full benefits of our growing economy.”

“Small businesses are the backbone of New Jersey’s economy and our goal is to help them grow and thrive here,” New Jersey Treasurer Elizabeth Maher Muoio said. “From the beginning of the Murphy administration, our Department of the Treasury has worked to improve access of small businesses to the contracting opportunities available to them, and we applaud the opportunity to implement the ‘Annual Business Matchmaking Event’ to ensure that business owners are aware of opportunities at all levels of government.”