According to Bergen County Executive Jim Tedesco, the New Jersey county is looking for ways to support small businesses owned by minorities, women and veterans. In an effort to do this, the county has revealed that a new set-aside program will be established to “make sure that a portion of the county’s private contracts will be awarded exclusively to minority business enterprises, women business enterprises and veteran owned businesses.” This will most certainly help small firms owned by underrepresented groups in the North Jersey area.
According to a North Jersey article, “Bergen County will use 10 percent of its budget for private contracts to woman-owned and minority-owned business, which will increase to 20 percent by 2020 and 2022, respectively. Five percent of annual contract funds will be used on veteran-owned businesses initially, with that percentage increasing to 10 percent within the next three years.”
If you’re in the North Jersey area, please take note and let us know about any opportunities within Bergen County.
To qualify for this program the applying businesses must be 51 percent owned by an independent minority, woman, or veteran and have 100 or fewer employees.