As New Jersey consultants and small business owners, your power lies in staying informed about the latest state regulations and opportunities. This knowledge is not just crucial, it’s your key to maintaining control over your business operations.

The recent Business.NJ.gov update for July 25, 2024, contains several important changes and opportunities that can impact your business operations.

Here’s a comprehensive breakdown of what you need to know and how it might apply to your business.

Public Works Contractors: Certify Your Payroll Records Online

Effective August 15, 2024, all registered contractors performing public work must report certified payroll records via the New Jersey Wage Hub.

This online portal ensures compliance with state labor laws, enhances worker protections, and improves wage transparency.

Key Actions for Contractors:

  • Register Using My New Jersey Account: Ensure you have an active My New Jersey Account to access the Wage Hub.
  • Submit Weekly Payroll Records: Regularly update payroll information to stay compliant.
  • Access User Guides: Utilize available resources to understand the submission process better.

Impact for Digital and Marketing Consultants:

If your consulting services extend to businesses involved in public works, ensure they are aware of these new requirements.

Offering guidance on compliance can position you as a valuable resource.

Revised Overtime Protections for Employees

The U.S. Department of Labor has updated the salary thresholds for executive, administrative, professional (EAP), outside sales, and computer employees.

The new thresholds are:

  • Standard Salary Level: Increases to $844 per week ($43,888 per year)
  • Highly Compensated Employee Threshold: Increases to $132,964 per year

Steps for Compliance:

  • Review Employee Salaries: Ensure that employees’ salaries meet the new thresholds to avoid overtime liabilities.
  • Update Payroll Systems: Adjust your payroll systems to reflect the new salary levels.
  • Communicate Changes: Inform affected employees about the changes to their salary structure.

Relevance to Consultants and Small Business Owners:

Keeping aware and informed of these changes is vital for maintaining compliance and avoiding potential penalties. As a consultant, advising your clients on these updates can enhance your service offerings.

Governor’s Conference on Housing and Economic Development

The 2024 Governor’s Conference on Housing and Economic Development will be held from September 17-18 at the Waterfront Conference Center, Harrah’s Resort, Atlantic City.

This event features diverse sessions, networking opportunities, and keynote speakers.

Why Attend:

  • Networking Opportunities: Connect with other business leaders, policymakers, and potential clients.
  • Learning Sessions: Gain insights into housing and economic development trends.
  • Corporate Sponsorship: Increase visibility by becoming a corporate sponsor.

Application for Digital and Marketing Consultants:

This conference is a really great opportunity to network and learn about economic trends that could affect your business or your clients. Consider attending or sponsoring to increase your industry visibility.

Business.NJ.gov Wants Your Insights

The Business.NJ.gov team seeks feedback on how New Jersey businesses understand and apply for local permits, registrations, and licenses. Your feedback will guide improvements to Business.NJ.gov.

Action Points:

  • Complete the Survey: Share your experiences to help improve the platform.
  • Stay Updated: Keep an eye on changes and improvements that could simplify your business operations.

Importance for Consultants:

Providing feedback can help shape a more efficient business environment in New Jersey, benefiting your operations and those of your clients.

Follow Business.NJ.gov on Facebook

By following Business.NJ.gov on Facebook, you can stay connected and engaged and knowledgeable with the latest information for starting and growing in the Garden State.

This connection can make you feel part of a larger community of business owners and state representatives.

Benefits:

  • Stay Informed: Get real-time updates on business regulations and opportunities.
  • Engage with the Community: Connect with other business owners and state representatives.

Update Your Subscriber Profile

By updating your subscriber profile, you’re not just helping Business.NJ.gov provide more relevant information, you’re also ensuring that you receive tailored updates and opportunities that cater to your specific needs.

Your input is valuable and we want to make sure you feel catered to.

Steps to Take:

  • Update Profile: Ensure your information is current to receive tailored updates and opportunities.

Additional Key Updates

1. RetireReady NJ Now Mandatory for Some Businesses:

Businesses with 25+ employees must register for the RetireReady NJ program. Attend an information session to learn more.

2. Grants for Nonprofit Organizations:

Apply for up to $500,000 to activate public spaces. This funding is available on a first-come, first-served basis.

3. Healthy Homes for NJ FamilyCare Members:

Funding is available to build ‘Healthy Homes’ for NJ FamilyCare members. Applications are only accepted for the program on a first-come, first-served basis.

4. Emerging Developers Grants:

Grants of up to $250,000 are available for emerging developers. Apply as soon as possible, as funds are limited.

5. NJ RISE Program Grants:

Grants are available to bring out-of-state workers back to New Jersey. Apply quickly to secure funding.

6. Corporate Transit Fee Now in Effect:

Companies with $10 million or more per year in taxable income are subject to the new corporate transit fee.

Conclusion

Staying informed about these updates and leveraging the opportunities can significantly impact your business’s success.

Whether you’re a consultant or a small business owner in New Jersey, these updates offer valuable insights and potential growth avenues.

For further information, visit Business.NJ.gov and chat with a live business expert, available Monday – Friday, from the times of 8 am to 5 pm. Keeping abreast of these updates will ensure your business remains compliant and positioned for growth in the ever-evolving landscape of New Jersey’s business environment.

Remember, the general key to success when it comes to policies affecting your business is staying informed and proactive.

Embrace these updates, integrate them into your business strategy, and watch your business thrive.