Why New Jersey Is the Best State to Buy a Business

Why New Jersey Is the Best State to Buy a Business

Why New Jersey Is the Best State to Buy a Business

New Jersey's economy is based on telecommunications, the pharmaceutical industry, tourism, food processing, chemical development, printing and publishing, and electrical equipment. Because of its stability and diversity, you will find many opportunities for investing in a New Jersey business for sale. Shipping is also a major industry here because of New Jersey's strategic location. For example, the Port of New York and New Jersey is the east coast's busiest port, and the Port-Newark-Elizabeth marine Terminal is one of the largest container ports in the world.

Along with industry, agriculture in the "Garden State" also plays an important role, and while New Jersey's truck garden farms (which sell their produce at local markets) are small in size, their per-acre output is very impressive. The state's main agricultural products are horses, nursery stock, dairy products, seafood, nuts, blueberries, cranberries, peaches, lettuce, tomatoes and spinach.

T ourism in New Jersey

Considering its total impact, the economic value of this industry in the state, which has many coastal towns on the Atlantic Ocean, is greater than the gross domestic product (GDP) of many countries. In general, out-of-state visitors provide 68% of the tourist industry's earnings on an annual basis.

New Jersey's economic environment

Because of its thriving economy, the state is home a number of business headquarters, including 24 Fortune 500 companies, In addition, Morris, Somerset, Bergen, Monmouth and Hunterdon counties are some the of the highest income counties in America. Remember this when you consider the benefits of purchasing a New Jersey business for sale.

Whether an you are an international company that wants to establish a business location in New Jersey or a local company that wants to conduct business globally, a number of resources are available here that you can use to help expand your bus iness. The state provides access to export consulting free of charge, along with services for identifying new international markets, potential buyers, and partners for forming strategic alliances and joint ventures.

New Jersey Business Action Center (BAC)

The BAC is actually a "one stop" agency for companies that helps them to remain and grow in the state or establish a new location here. At the Center, business advocates have the task of providing support for companies of every size and description, enhancing the global competitiveness of New Jersey's businesses, and promoting the state's appeal as a location for business investment and an ideal vacation destination-both domestically and internationally.

New Jersey Economic Development Authority (EDA)

The EDA was established to foster economic growth in the state for companies of every size, but its main focus is the success of small businesses in the state. Companie s in this category employ between 5 and 100 workers, and they have also been operating between 1 and 5 years. The group supplies businesses that qualify with financing though loan participations, bonds and loan guarantees. Direct loans that come with a variable or fixed rate are also available to investors, and they have repayment schedules that compare favorably with those provided by traditional lenders.