NEW JERSEY — New Jersey was ranked the worst state to start a business, according to personal finance website WalletHub's annual list of the best and worst states to start a business. New Jersey can be an economic powerhouse that provides all residents and businesses with an exceptional opportunity to thrive. Unfortunately, two well-known crises stifle our state economy, suppress our vitality, and deprive residents of their American dream. A key industry in New Jersey, the state's shipping business offers a strategic geographical location as an added advantage.
If you have networking skills, any shipment-related business can be profitable in New Jersey. New Jersey is the second worst state in the country in which to have a small business, according to a report. We've listed above some of the most cost-effective ideas for small businesses in New Jersey that require low starting capital. With the booming pharmaceutical and chemical industry, companies in New Jersey have evolved tremendously over the years.
You must file your return with the New Jersey Department of the Treasury, Revenue Division and Business Services. New Jersey is also home to the port of New York and New Jersey, the largest seaport on the East Coast. However, New Jersey residents are very selective in buying meat due to quality and hygiene issues. As the most densely populated state in the country, New Jersey offers businesses a highly educated workforce.
When out-of-state C-Suite leaders transcend stereotypes and discover the truth about New Jersey, the results can be especially compelling. New Jersey is primarily engaged in the production of medicines, chemicals, telecommunications, food processing, electrical equipment, printing and tourism. New Jersey's robust transportation system makes it easy to move people and products around the world. BAC will not only prepare a formal letter outlining all the different benefits available (should the company make the decision to locate in New Jersey), but it will also help the company resolve any regulatory issues it may have.
The state's so-called inheritance tax and high levels of government spending and debt also condemned New Jersey's chances of earning a higher rating. While tax incentives alone are not enough to attract businesses here (the many qualities of the state must have intrinsic merit), the New Jersey Partnership for Action (PFA) has been crucial in alerting out-of-state businesses to the positive attributes of the Garden State and also to eliminate any obstacles to relocations. As Brown of Choose New Jersey explains: “My daughter lives in Minnesota now, with her husband and grandson. Notably, there is a strong customer base of 22 million within a two-hour drive of central New Jersey, making this region a logistics and distribution center.