Reversing growth in small business activity for the first time in four years.
Bad news for aspiring entrepreneurs: Now might not be the best time to launch your own business.
Total entrepreneurial activity in the U.S.—measured by the number of people starting and operating new businesses—fell to 12% in 2015, from 14% in 2014, according to a report released Tuesday by Babson College. The drop reverses upward growth in small business activity during the previous four years.
The findings could indicate that employees are satisfied with their jobs and unwilling to strike out on their own. But the research could also show a lack of confidence in the small business environment in the wake of the recession, Babson professor Donna Kelley told CNBC. The Small Business Optimism Index, a metric from the National Federation of Independent Business, has remained below its 42-year average since the recession.
2 hour tech workshops
that will save you
10 hours of time.
Sign up for summer workshops in
Microsoft Word, Excel, and PowerPoint.
Bergen IT LLC’s targeted, affordable tech training sessions are designed to meet the needs of small business. They address the challenges you and your employees regularly face when working with essential software tools.
Our highly-experienced instructor will provide training that’s usually only available in large corporations. He’ll offer expert answers in clear, easy-to-understand language. Even if you’ve used these software programs for years, this training will improve your productivity, reduce stress, and save you money.
This specially-priced opportunity is for fellow Chamber members and their employees. Workshops will be held in the Ridgewood Chamber of Commerce office. Summer sessions will run from 7/18/16 – 8/5/16. Reserve a spot now by contacting [email protected] or calling 201-689-1823. For more details and the schedule of sessions, Click to Learn More.
The New Jersey Business & Industry Association released a report Thursday indicating that the outmigration of some 2 million New Jersey residents cost the state approximately $18 billion in net adjusted gross income in the years between 2004 and 2013.
“The $18 billion we lost during the years we studied had a significant economic impact on the state,” NJBIA CEO and President Michele Siekerka said. “During that period, we lost $8.4 billion in household spending, $11.4 billion in economic output, 75,000 jobs and $4 billion in total lost labor income.”
The study found that the majority of New Jersey residents leaving the state are migrating to Pennsylvania. New York was the second-most-popular destination for those relocating from the Garden State, showcasing that, while people are leaving in search of lower taxes, they also want to maintain a relatively close proximity to family and friends.
“This pattern underscores New Jersey’s need to stay competitive with its neighbors and those other states vying for our residents and businesses,” Siekerka said.
And it’s not just retirees, either. According to the report, millennials, which it defined as those between the ages of 18 and 34, are leaving New Jersey in the highest numbers.
Midland Park NJ, Ethos Fitness and Spa For Women is exclusively designed for women’s fitness and is the favorite fitness and spa escape for moms in Bergen County! It has a perfect blend of group exercise, personal training, Pilates and Spin classes in addition to wellness programs. As for the spa, they offer an entire portfolio of services for both men and women—and it’s open to non-members. They also offer youth programs for young girls– so grab your daughters – and YES, they have childcare!
Steve Adubato goes on location to the CIANJ Annual Legislative Dinner and speaks with Assemblyman Jack Ciattarelli (R) who says our tax code needs to change if we want to improve our economy. As just one example, Ciattarelli believes we need to eliminate the Estate Tax to keep people in the state. Max Pizarro, PolitickerNJ Read more
Location: Park West Loft, 38 Oak Street Ridgewood, NJ 07450 Cost: $35 per person
You are cordially invited to attend
The Ridgewood Chamber of Commerce
Annual Installation, Membership,
Networking & Recognition Dinner
Monday, June 13, 2016 @ 6:00pm
Park West Loft
30 Oak Street-entrance next to Park West Tavern
Take elevator to second floor
Honoring:
Hillmann Lighting
106 years
“Community Business Award”
Ridgewood Public Library
“Community Service Award”
Ridgewood AM Rotary
“Community Giving Award”
RSVP by June 6, 2016 – [email protected] -201-445-2600
*$35 Chamber Members -*$45 Non-Chamber Members
*Dinner – Cash Bar
www.experienceridgewoood.com
Tue, June 07, 2016
Time: 11:00 AM
Location: Ridgewood Chamber of Commerce, 27 Chestnut St., Ridgewood, NJ 07450
Ridgewood NJ, Meetings of the Ridgewood Chamber of Commerce’s Brown Bag Lunch Bunch — a woman’s networking event — are held on Tuesdays. This networking is designed to place real value on the advice and wisdom of today’s business women organizers note.
The meetings have alternating times of 9 a.m. and 11 a.m., in the Chamber Office, at 27 Chestnut St.
For more information, call the Chamber office at 201-445-2600. For more info about the Chamber generally, visit its website or Facebook page.
Ed says , “High rents are an issue from the past. Commercial rents have declined precipitioulsy since the last recession. Rents and house prices are not determined solely by landlords or home sellers they are determined by prevailing market conditions at the time a transaction is contemplated. The entire process is driven solely by supply and demand. If demand for a particular real estate product is high then the cost of that product will be priced to reflect the current market demand. Conversely when demand is weak prices will fall …..and .sometimes they will fall rather quickly …..and dramatically. Generally speaking at any given time rents are a fairly accurate reflection of either current or anticipated conditions in the specific market to which the property relates. The problem is if a business cannot attract enough customers ANY RENT THEY PAY IS TOO HIGH TO SUSTAIN THEIR BUSINESS. The problem in Ridgewood is a dearth of customers. On the retail side people increasingly prefer to buy goods online at incredibly good prices and they enjoy the added benefir of having the goods delivered right to their door.. A conventional retailer can’t beat that type of competitor.”
Ridgewood NJ, the Village council passed a new sign resolution no. 16-137 effective 5/4/16. This allows
“A Frame” type signs on the sidewalks of the CBD until December 31, 2016
The Chamber of Commerce will be handed out a copy of the resolution on Monday 23, 2016 to Chamber members.
-The placement of any sign must not interfere with
pedestrian safety
-No sign shall be permitted to constrict the 52-inch
area of the sidewalk utilized by pedestrians.
-All signs must be removed at close of business.
-You need to contact the Village of Ridgewood with a
valid, current certificate of insurance, naming the Village of Ridgewood as additional insured for Comprehensive General Liability.
This must be done one week before placement of sign.
Signs are allowed during Sale Days meaning today.
Side street businesses during Sale Days only.
Can have one sign at the corner, place out of the way of pedestrian. Other stores must keep their signs in front of their own locations.
Ridgewood N J, Save the date! Next Saturday June 4th several local businesses located at or around 580 N. Maple Ave in Ridgewood will be hosting a building-wide Open House. This is a free event and open for all so stop by 580 N. Maple Ave in Ridgewood between 10 AM and 12 PM to check out and support local businesses and take advantage of the giveaways and prizes!
All businesses (@The Bar Method Ridgewood, @Live Love Laugh Photos photography studio, @Artists & Architects hair salon, @Master Art Studio art studio, @Ridgewood Sewing Academy, @Katie Diamond Store, @Ridgewood Irish Dance The JIG Factory dance studio and @The Catch-y Caterer LLC restaurant) will have specials for the open house as well as great giveaway. And a winner of the Grand Prize will receive prizes from all participating businesses!
Ridgewood NJ, Atlantic Stewardship Bank announced that it recently launched a new Express Loan Approval process to assist small business customers with their lending needs. Whether it is a line of credit or term loan, ASB has made the process more efficient for small business customers with localized decision making to allow for expedited turnaround. Express Loan applicants have been receiving a decision within two business days and can close within a week of applying.
“We have the perfect solution for your short-term credit needs with local decision making so you can spend more time running your business,” said Atlantic Stewardship Bank President and Chief Executive Officer Paul Van Ostenbridge. “We want your lending experience to be simple, fast and easy, which is why we offer small business loans on balances of $250,000 or less with competitive pricing.”
Visit their website at ASBnow.com to learn more or to apply today.
Ridgewood NJ, Apparently, the heist couldn’t have been any simpler if it had been drawn up in the lunch line at an elementary school cafeteria.
In February, Bangladesh’s central bank saw $81 million disappear out a virtual window. Now it’s been revealed that, although the computer hackers used custom-made malware, they probably didn’t need to work up a cyber sweat while pulling off their long-distance theft. The bank had no firewalls to defend against intruders and its computers were linked to global-financial networks through second-hand routers that cost $10.
“It’s stunning that a major institution would leave itself so defenseless in this day and age when everyone should know that cyber criminals are waiting for you to let your guard down,” says Gary S. Miliefsky, CEO of SnoopWall (www.snoopwall.com), a company that specializes in cyber security.
But he says the episode can serve as a cautionary tale for other banks and any businesses that want to protect themselves against today’s cyber versions of Bonnie and Clyde.
“Most companies have some vulnerability and it doesn’t take a sophisticated attack to cause a security breach,” Miliefsky says. “Often on the hackers’ end of things, it just takes patience.”
For example, he says, a cyber criminal can gain access by sending a company an email with an attachment called a Remote Access Trojan, or RAT, that looks like a normal file. All it takes is for an unsuspecting employee to open that file and, voila, security is compromised.
That’s bad for companies, of course, but it’s also bad for consumers, whose bank account, credit card and other private information is at risk.
Miliefsky says it’s important to go on the offensive. Among his recommendations:
• Employers need to train their staffs. Those employees sitting at their computers each day are a company’s first line of defense. An errant click on the wrong email is like unlocking the front door, so employees should be made aware of the dangers and told what do about suspicious email. • Companies should routinely update their defenses. Outdated technology and outdated security software make a company’s computers vulnerable to attack. It’s important that businesses periodically review their IT operations to make sure what worked last year still provides the needed security. • Consumers must take their own safety measures. It would be nice to expect banks and retailers to protect consumer information, but the average person can’t count on that. Miliefsky suggests consumers take personal security measures such as frequently changing passwords and deleting any phone apps they don’t use. Many apps contain malware that can spy on you.
“Most people log onto the internet every day without much thought about how susceptible they are to being hacked,” Miliefsky says. “It takes vigilance to protect yourself against cyber criminals who are working hard to figure their way around security measures.”
About Gary S. Miliefsky
Gary S. Miliefsky is founder of SnoopWall Inc. (www.snoopwall.com), a cutting edge counter-intelligence technology company offering free consumer-based software to secure personal data on cell-phones and tablets, while generating revenues helping banks and government agencies secure their networks. He has been active in the INFOSEC arena, as the Executive Producer of Cyber Defense Magazine and a regular contributor to Hakin9 Magazine.
“It’s not just technology defining the youngest working-age population, it’s also a distinct optimism and a desire to do work that matters,” says youth psychologist Dr. Jason Richardson.
“I don’t think millennials lack the work ethic and soft skills that others say they do. Many of those things come with age regardless of when you were born. But I do think millennials have been coddled. Many have an aversion to seek resolutions to problems within themselves – outside of technology.”
Richardson, author of “It’s All BS! We’re All Wrong, And You’re All Right!” (www.drjasonrichardson.com), offers millennials suggestions for expanding their skillset.
• Try more authentic “connections.” Competition among millennials can be fierce, especially when it comes to how your social media profile looks. You can have a thousand friends, “Like” the cool, trendy items and have an impressive bio with the right degree from the right school. More one-on-one time with your peers, however, helps with truly interpersonal settings, including working with people from older generations. • Distinguish yourself by offering your full attention – a rare commodity nowadays. People never have to be bored anymore. If we must wait for anything, we can find distraction in our smartphones, which are on-demand boredom-killers. On the job, dividing your attention while on your phone with clients, management, during conference calls, etc. will not be appreciated. It’s not multitasking when your attention is compromised – a major hindrance in communication. • Take a cue from older generations; grow thicker skin. Today, colleges are catering to students with “safe spaces” in case their feelings are hurt. Professors often warn students of “trigger warnings” in case academic content could be seen as offensive. Older generations were not as coddled, which helps them accept criticism at work. Thin skin can keep you from finding solutions to problems. Learn to accept professional criticism graciously so you may think more clearly on possible solutions. • Base progress on doing good and less on feeling good. Doing good and feeling good don’t always coincide. Remember, you’re the baby who learned to walk despite many failed attempts. You didn’t need to feel good to be successful. Place value in the work and personal gains made as you move forward. Think of yourself as continually developing or becoming. You are more than what’s written on your social media profile.
“We can’t always control the conditions of this amazing world,” Richardson says, “but you can take control of the amazing you, if you believe you can.”
About Jason Richardson, Psy.D., MBA
Dr. Jason Richardson (www.drjasonrichardson.com) is a psychologist who earned his principles for self-improvement as a world-traveling athlete, doctoral student and student of life. He maintained top-10 status on the professional BMX circuit for most of his 15-year career, retiring with a gold medal at the 2007 Pan American Games.
With a record number of New Jersey residents holding jobs, Gov. Chris Christie on Tuesday announced the state will be able to offer $200 million in tax relief to businesses by cutting their contributions to unemployment insurance. Claude Brodesser-Akner, NJ.com, Read more
Ridgewood Nj , Business can lead to cutthroat competition – in more ways than one – but Tom Nix learned that the darkest moments also can lead to the greatest triumphs.
“It’s the worst experiences that sometimes teach us the most important lessons,” says Nix, a successful businessman and author of “Nixland: My Wild Ride in the Inner City Check Cashing Industry” (nixland.net).
The incredible rise of his multimillion-dollar enterprise, Nix Check Cashing, is a case in point. Nix encountered turbulent times in the inner city of Los Angeles as he built his company into a trusted institution among underserved communities.
He and his employees faced harrowing experiences, such as armed robberies and threats from the mob, which hoped to block some of his expansion plans.
The 1992 riots that erupted after a jury acquitted police officers in the beating of Rodney King proved especially distressing. Many businesses were looted or burned to the ground, and Nix scrambled to protect his check-cashing locations.
He was gratified to learn that loyal customers prevented some branches from being torched.
“We even had a gang member call us,” Nix says. “He said he had always been treated with respect at Nix, and his gang decided not to burn Nix because we were part of the community.”
Nix says his experiences taught him valuable lessons that relate both to business and life, such as:
• Take responsibility. This applies to everything that happens, including things you can’t control. Once when an economic downturn left him unable to pay bills, Nix contacted each creditor to explain his predicament and work out a plan. That upfront approach helped the business avoid bankruptcy. • Never play the victim role or blame game. Avoid replaying misfortunes over and over in your mind. Accept setbacks gracefully and concentrate on getting back on track. In the 1990s, a business deal that went awry nearly forced Nix to sell his company, but he focused on solving the problem and persevered. • Be courageous. The most debilitating human emotion is fear. Learn to keep it in perspective, minimize it when applicable and harness it to your benefit when need be. Nix says standing up to bullies as a child set the stage for standing up to the mob. • Maintain integrity. Operating with fair play and compassion is important in building trust. “The way community members protected some of our branches during the riots was a reflection of this,” Nix says.
“Treating people fairly and supporting community programs paid off.”
Good times may be more enjoyable, but challenging times provide more opportunity for growth, he says.
“Realize that bad people, tough times and mistakes are your teachers,” Nix says. “Always ask yourself, ‘What do I need to do to capitalize on these events?’ ”
About Tom Nix
Tom Nix, author of the memoir “Nixland” (Nixland.net), is a pioneer of the check-cashing industry. He built Nix Check Cashing into a multimillion-dollar operation before selling it in 2007. Recently, Nix has turned to public speaking and writing with the goal of helping people overcome obstacles and have similar success.
