May 2023 New Jersey’s Red Tape & Fees are Hurting Small

Small businesses are a way for new innovations to come to the market and for New Jersey residents to accumulate wealth. [...] New Jersey’s main problem is business applications have risen, but business formations are down in the Garden State, and there are a number of reasons why: 1) It is costly to register/keep a small business (LLC) relative to neighboring states; 2) New Jersey has a lack of workers due to laws creating unneeded jobs; 3) There are laws that make it difficult to start jobs (like occupational licensing. [...] Occupational licensing restrictions in New Jersey are unfairly tough (ranked 14th as the most burdensome in the nation) and a barrier to starting a new business. [...] • For example, New Jersey has one of the highest burdens for security alarm installers nationwide and the highest in the region. [...] About The Garden State Initiative The Garden State Initiative is a 501(c)3 nonprofit organization dedicated to strengthening New Jersey by providing an alternative voice and commonsense policy solutions in the state — solutions that promote new investment, the growth of businesses, the creation of economic opportunities, and innovation to the benefit of all New Jerseyans.