Small Business Newsletter
A Message From Our President
As the economy moves forward, small business owners need to navigate a shift in their operations.

With the Great Resignation impacting companies of all sizes and supply chain issues affecting various industries, the realities of a re-opened economy are still taking shape and creating new challenges for small businesses management.

The good news is that doors are open. People are excited to invest in retail purchases, home improvements, vacations, dining out, and beyond. We've also learned some things along the way. Virtual meetings have increased attendance, employers have cut costs by shifting to remote work, and employees are feeling empowered.

Rebuilding the economy and workforce with innovation and intention, while tricky at times, is exciting and full of opportunity, and UCEDC is here to help! Through our free (virtual) training workshops, loan products, or government contract counseling services, we can help you maneuver the changing small business landscape.

Stay safe and healthy!
Adam
According to the SBA, "there are an estimated 4.65 million Hispanic-owned businesses in the U.S., making them the fastest-growing segment of U.S. small businesses." In fact, the SBA states, "the number of Hispanic business owners has grown 34% in the last 10 years." 

At UCEDC we continue to be inspired by our clients who are influenced by their Hispanic heritage. Like Hilda Mera of S&A Auto Repair, who inspires us with her commitment to empowering her community and the pride she has as an Ecuadorian American immigrant who has succeeded as a small business owner. Or Felix Abreu's story of growing up in the Dominican Republic and how he realized his entrepreneurial ambitions early when charging the neighborhood kids for rides on his bicycle, well before Quisqueya Meat Market & Grocery became his American Dream.

Their stories and those of our clients, friends, and neighbors whose Hispanic heritage has helped shape the fabric of America are always worth celebrating. We are happy to take a moment during this month of recognition to say Happy Hispanic Heritage Month to them and all of us who benefit from their contributions.
As Companies Struggle to Hire Employees,
Small Businesses Owners Need to Think Outside the Box!
With an abundance of jobs available, the labor force is more empowered than ever when choosing where to work, making recruiting challenging for many small business owners. While programs like the New Jersey Department of Labor's Return and Earn Incentive (see below for more info) may help in situations where there are skills gaps, it does little to help the restauranteur in need of waitstaff or the retailer searching for seasonal help. 

As usual, small business owners must utilize their resourcefulness and creativity to remain successful. They must determine their unique working proposition and be nimble and thoughtful in identifying how to recruit the right people for the job. 

Wages, while important, are not the only motivator. As people return to work, work-life balance is top of mind. Whether it's's working from home, shifting to a four-day workweek, or offering great vacation or medical benefits, there are many ways for small businesses to set themselves apart. But it requires careful consideration and out-of-the-box thinking.

As a small business owner, you need to ask yourself, what does my business have to offer? Are you environmentally conscious, do you offer any flexibility, do you cover employee lunches? Consider your company culture. Would you want to do the work you are asking someone else to do in your work environment? What options can you offer to help your employees thrive both personally and professionally?

While it may sound daunting, it's an excellent opportunity to reevaluate your small business from a new perspective and make it better for everyone. Even something as simple as a sign in your window that says "We like working here, and you will too! Hiring now" can make a big difference in the perception of your company to a potential employee.

Here are some related articles we thought you might find interesting:

  1. NPR: As The Pandemic Recedes, Millions Of Workers Are Sayin' 'I Quit'
  2. Monster: Fall 2021 Hiring Outlook
  3. Indeed: 60 Creative Recruitment Ideas To Gain Qualified Talent
  4. Reuters: U.S. job openings hit record high as employers struggle to find workers
  5. CNBC: America's small businesses still can't find workers, but that's not their biggest problem
  6. Monster: Recruitment Planning After A Crisis
New Jersey Department of Labor Announces
Return and Earn Incentive Program to Help Workers and
Businesses Recover from COVID-19 Pandemic
The Return and Earn Incentive Program will assist New Jerseyans in returning to the workforce and provide employers with the resources they need to fill the vital positions that will allow them to grow and thrive.

Facilitated by NJDOL's Business Support Unit, Return and Earn will take advantage of New Jersey’s existing On-the-Job Training infrastructure to provide wage reimbursement support to New Jersey employers that hire eligible applicants with identifiable skills gaps. Employers will then be reimbursed for 50% of the wages paid for regular hours worked during the contracted employer-provided training period.

Employers can receive the wage subsidy for up to 6 months, up to the cap of $10,000 per Return and Earn employee and are limited to a total Return and Earn subsidy across all employees of $40,000. 
UCEDC Client Spotlight: Lakiesha Littles of You Fitness
Lakeisha Littles, the owner of You Fitness based in Newark, New Jersey, was one of UCEDC's Virtual Incubator Program (VIP) participants. Through the VIP, selected businesses with ownership from underserved populations received mentorship, training, and funds to help meet the challenges of this moment.

Lakeisha's small business, You Fitness, is a health and wellness center that started out as a dance fitness studio. It opened in October 2018, and now, in addition to dance fitness, it has grown to become a meaningful space for workshops, suicide prevention meetings, self-defense classes, and more. According to the You Fitness website, Lakeisha's "vision is a world where confidence, good vibes, daily acts of self-love and care are a regular part of life." She says, "I thought this journey was about me, but I've found that it isn't, it's about us and more importantly, it's about YOU!"

In the video above, Lakeisha talks with UCEDC's Director of Training, Joe Lamberti, about her experience with the VIP program and how it has helped her business.
Is Your Small Business Prepared for the Holiday Season?
It's time to gear up for the holidays! Whether you're a retailer who counts on Christmas for the bulk of your revenue or you're a service provider who hasn't considered your holiday positioning, these articles will help you plan, prepare and capitalize on Small Business Saturday and the holiday season.
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