Congressman Kim Calls for Action to Save Small Businesses During Call with NJ Business Owners
Congressman Kim Calls for Action to Save Small Businesses
During Call with NJ Business Owners
WASHINGTON, DC – Today, Congressman Andy Kim (NJ-03) held a virtual question and answer session with members of the Chamber of Commerce Southern New Jersey where he called for immediate action to fix systems run by the Department of Treasury and Small Business Administration to help small business owners, and ensure those programs, once fixed, are fully funded.
“The concerns I heard today by small business owners echo what I’ve been hearing for weeks; we need to fight like hell to make sure no small business owner loses their job or has to lay off staff because of this pandemic,” said Congressman Kim. “From day one, we’ve seen flaws in the systems set up by the CARES Act. Small business owners need clarity and certainty, and they’re getting neither. It’s time for Washington to put the politics aside, come together, and save New Jersey’s small businesses.”
The issues brought up by members of the Chamber of Commerce Southern New Jersey include: the need for help for the non-profit sector in future legislation, the need for investments in infrastructure to help stimulate the economy, the importance of increased testing and PPEs in South Jersey, and the prospect of providing hazard pay to essential workers and businesses.
“The Chamber of Commerce Southern New Jersey is thankful to Congressman Kim for speaking to our members regarding the most pressing issues facing small businesses dealing with the COVID-19 crisis. Right now, business owners are seeing their livelihood placed in the hands of the federal government as further assistance measures are debated in Congress. The Congressman’s pragmatic approach to many of these critical issues, as well as his open communication with the business community, is incredibly appreciated during these difficult times,” said Christina M. Renna, President & CEO of the Chamber of Commerce Southern New Jersey.
Last week, the Chamber of Commerce Southern New Jersey and the Federal Reserve Bank of Philadelphia released their quarterly South Jersey Business Survey. This is a quarterly survey of Chamber of Commerce Southern New Jersey member companies in which businesses indicate the direction of change in overall business activity and in the various measures of activity at their companies. Some major takeaways from the survey, conducted from March 30th through April 6th, include:
- Nearly 65 percent of South Jersey businesses have seen a decline in sales
- Nearly 79 percent of South Jersey businesses expect sales to continue to be down for the next six months
- 36 percent of South Jersey businesses have already reduced payroll staff
- Nearly 90 percent of South Jersey businesses are either very or somewhat concerned about maintaining adequate cash flow over the next quarter
Information about Congressman Kim’s actions to contain the Coronavirus pandemic and address the ongoing economic impact, including calls to increase and fast track help to small businesses, can be found on his website by clicking here.
Congressman Kim is a member of the House Committee on Small Business where he serves as the Chairman of the Subcommittee on Economic Growth, Tax and Capital Access. More information about Congressman Kim can be found on his website by clicking here.