If you’re preparing to start your own business in New Jersey, you may have a few questions about your new venture — perhaps more than a few. No matter what the climate, surviving the first year of a small business isn’t easy. According to the U.S. Small Business Administration, approximately 50 percent of small businesses fail in their first five years. Therefore, it pays to get sound advice from any reputable resource you can.
One trusted resource in New Jersey and across the country is SCORE, whose full name is the Service Corps of Retired Executives. Bergen County’s chapter recently settled into its new offices in Hackensack, ready to take on the challenges of burgeoning businesses across the state who come seeking advice on how to succeed in business.
Bergen County’s SCORE professionals have been helping small business owners for more than 20 years. The 41 counselors in the nonprofit group, which goes by the name ScoreBergan, come from a wide variety of fields — engineering, sales, management and finance, to name a few. Most, though not all, are retired professionals. They offer counseling and advice on starting a new business, as well as maintaining or expanding an existing one.
Recently, the group has seen an increase in people seeking their help as a result of the recession. Either their businesses have struggled or they’ve been laid off from a job and are considering starting their own venture.
Potential new business owners seeking advice on social media strategies, search engine optimization or deciding on a credit card provider can take part in educational programs that ScoreBergen offers. Also available are five-week classes providing simple steps that every new business owner should take. The group’s counselors say that after having so many years of success in their own careers, there’s real reward in seeing a business owner they advised become successful.
Of course, they aren’t the only resource for new business owners. As you start your company it’s likely you’ll encounter issues that require a practicing legal professional. These might include choosing an entity, drafting a partnership agreement or negotiating a contract. When you’re ready to move from the initial advice stage to writing up the paperwork, an experienced business formation attorney can take you to the next level and help ensure your long-term success.
Source: NJ.com, “Nonprofit that advises new business owners makes new home in Hackensack,” Myles Ma, Aug. 13, 2012
· Our firm handles a wide variety of new businesses ventures and legal issues. To learn more about our practice, please visit our New Jersey business formation page.