0:00A key segment of the meeting focused on the presentation by Don from the New Jersey Business Action Center, who provided valuable insights into the advantages of obtaining various state certifications. These certifications, such as Small Business Enterprise (SBE), Minority Business Enterprise (MBE), and Women Business Enterprise (WBE), are designed to enhance the competitiveness of small businesses in government procurement processes. Don emphasized the significant opportunity presented by the 25% set-aside for state contracting dollars allocated to small businesses. This set-aside applies not only to direct contracts but also to subcontractors on larger projects, offering a critical pathway for smaller firms to engage in substantial work.

Despite the absence of set-asides for women and minority-owned businesses due to a court order, Don highlighted the continued value of these certifications. They remain critical for accessing opportunities within counties that have set-aside programs and in private sector Supplier Diversity initiatives. Furthermore, the session underscored the potential for certifications to be granted expeditiously, with SBE certification potentially available on the same day, although others require an auditor’s review.

The discussion also covered additional state-supported resources, including a newly introduced cannabis training academy aimed at individuals interested in entering the burgeoning industry. Don reiterated the role of the Business Action Center as a supportive entity, offering guidance on various business needs, such as regulatory processes and export opportunities.

11:38Anna outlined the criteria for the SBE certification, which requires applicants to be New Jersey-based, have fewer than 100 employees, and meet revenue thresholds according to their NAICS code. She stressed the importance of proper business registration before applying for any certification.

Moreover, Anna explained the requirements for minority and women-owned business certifications, which necessitate at least 51% ownership and control by a minority or woman. Each certification is valid for five years, contingent upon annual verification, and requires a review process by an auditor for approval. Anna also introduced the Socially Economically Disadvantaged Business (SEDB) program, a new initiative designed to expand opportunities for businesses seeking certification.

However, speakers noted that obtaining a certification is merely the beginning; significant effort must be invested in marketing and pursuing contracts. It was mentioned that fulfilling the requirements and securing the first contract typically takes about a year, underlining the importance of perseverance and strategic engagement.

Attendees were encouraged to utilize the available resources, including the New Jersey Small Business Development Centers and the Apex Accelerator, both of which offer free guidance on government procurement. The collaborative nature of the meeting, with contributions from various state and local entities, highlighted a concerted effort to foster a supportive environment for small businesses in Bernards Township.