As managing partner at SKC & Co. CPAs, Sarah Krom has seen and heard firsthand the struggles of New Jersey businesses owners.
Of the many needs of employers to get to them to other side of the pandemic is freedom to operate without any more costs, Krom said in a presentation for the recent New Jersey Business Coalition forum.
“To come out of this New Jersey needs to create jobs and empower its business owners to operate without additional mandates, regulations or taxes that increase an already high cost of running a business in New Jersey,” Krom said.
“If businesses are able to follow all of the required business protocols, being allowed to open and operate as fully as possible is critical for them to be able to rebuild the losses seen in 2020.”
Krom said the implementation of a millionaires tax, the hike in the corporation business tax and the continued increase in the minimum wage “do not support a pro-business environment in New Jersey.”
She raised that New Jersey employers who follow all the pandemic safety rules “also need liability protection to operate successfully, and without the fear of lawsuits that can erode their business.”
“Small businesses need the state’s support,” Krom added. “Various grants that the state has offered need to become available at quicker speeds. In addition, the focus of these programs needs to be directed to the hardest hit industries, businesses and communities – those who are not open at all or those who are open at greatly reduced capacities.”
The New Jersey Business Coalition’s “State of New Jersey Business” online town hall provided an opportunity for business owners and coalition members to discuss the current and future needs of the business community. More than 150 people attended the virtual event on Jan. 11, including a dozen state legislators and administration officials who were also on the call.
To listen to Krom’s full presentation, click here.
