NEWARK, N.J.--(BUSINESS WIRE)--Small businesses propel growth and prosperity in the United States, annually create the majority of new jobs and help drive the economic recovery and strength in cities like Newark according to data shared at the Newark Small Business Summit today.
Mayor Ras J. Baraka, the Newark Municipal Council, and Prudential Financial hosted the Newark Small Business Summit today, at the New Jersey Performing Arts Center, located at 1 Center Street, in the City’s Downtown.
At the summit, Mayor Baraka and his administration defined their vision and agenda for small business development to local and regional business owners and entrepreneurs. There were panel discussions, involving experts on small business development and growth, workshops on financing and start-ups, and educational sessions on maintaining a small business. John Strangfeld, chairman and CEO of Prudential Financial and co-chair of the NJPAC Board of Directors, and Mayor Ras Baraka both spoke at the event.
“At Prudential, we recognize the importance of small businesses to the economic vitality of our nation and the revitalization of Newark,” said Strangfeld. “Our company started as a small life insurance business right here in Newark nearly 140 years ago. We remain committed to doing our part to drive sustainable growth for Newark’s small businesses and look forward to continuing to work in partnership with the City of Newark, local small business owners and community development groups to help our city reach its full potential.”
“Since taking office on July 1st, our administration has placed a high priority on development and success for our small business community. We believe that Newark’s prosperity and economic growth come from its neighborhoods, its communities, and its people. Development in Newark must be for all, must empower all, and strengthen all! When we work together as a unified team, strengthened by our diversity and united by our love of Newark, we truly transform our City and its economy into a Newark we can all believe in,” said Mayor Baraka.
Otis Rolley of the Newark Community Economic Development Corporation presented the City’s program for small business development:
- Improving infrastructure in place to support the small business community and aspiring entrepreneurs;
- Becoming a catalyst for neighborhood business development;
- Streamlining business licensing and permitting process and improving customers’ experience;
- Promoting and cultivating a culture of sustainability within the small business community;
- Highlighting and promoting our City’s rich cultural and ethnic diversity by encouraging and supporting the creation of business enterprises serving these various communities.
Attendees spent the day participating in panel discussions about small business development and procurement opportunities within the City of Newark for small businesses.
Dr. Randal Pinkett, who is president and CEO of BCT Partners and Season 4 Winner of NBC’s The Apprentice, was the lunchtime keynote speaker. His address was followed by workshops that included: gaining access to capital for entrepreneurs; workshops for business start-ups; and growth for companies that have been in business for two years or more.
Marjorie Perry, who owns a construction business in Newark and served as a panelist at the Summit today, says she hopes all small business owners take this opportunity to really educate themselves and network.
“Small business owners need to surround themselves with seasoned business owners and form their own advisory committee. These professionals can help and guide small business owners to build scale, and at the same time, understand the risks and rewards of running a business,” said Perry.
For more information on the City of Newark, please visit our website at www.ci.newark.nj.us
To visit the City of Newark’s official photo galleries:https://www.flickr.com/photos/newarkpressoffice/sets