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Committee Statement — Assembly Bill No. 4751, Assembly Commerce and Economic Development (October 20, 2022)

Summary

The Assembly Commerce and Economic Development Committee statement, dated October 20, 2022, reports favorably Assembly Bill No. 4751. The bill requires the NJ Business Action Center, in the Department of State, to establish a mentorship program matching entities with experience in particular areas with new entities seeking to learn from entities experienced in those areas. The goal of the program is to facilitate the sharing of knowledge to confront common challenges in an evolving economy. Participating mentor entities will be encouraged to share experiences transitioning to a new form of commerce, such as from brick-and-mortar to online, and suggestions to avoid common pitfalls. The center is to seek the assistance of chambers of commerce and other local organizations to solicit participation by businesses.

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Cite this document

“Committee Statement — Assembly Bill No. 4751, Assembly Commerce and Economic Development (October 20, 2022).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2022-10-20-ace-a4751-s1-120ff03a28/, SHA-256 003337757978b958bf390b4f5b6d2770272dcaba64d79ba89e55e6cb38545bcf.

Full text

ASSEMBLY COMMERCE AND ECONOMIC DEVELOPMENT
                COMMITTEE

                          STATEMENT TO

                     ASSEMBLY, No. 4751

       STATE OF NEW JERSEY
                          DATED: OCTOBER 20, 2022

          The Assembly Commerce and Economic Development Committee
      reports favorably Assembly Bill No. 4751.
          This bill requires the NJ Business Action Center, in the
      Department of State, to establish a mentorship program to match
      entities with experience in particular areas with new entities seeking to
      learn from entities that are experienced in those areas.
          The goal of the program is to facilitate the sharing of knowledge to
      confront common challenges in an evolving economy. Under the
      program, participating mentor entities will be encouraged to share with
      mentee entities those mentor entities’ experiences transitioning to a
      new form of commerce, such as transitioning from brick-and-mortar to
      online or transitioning to the sale of a product or service that the
      mentor entity did not previously have experience selling, and
      suggestions to avoid common pitfalls when transitioning to a new form
      of commerce.
          The bill requires the center to seek the assistance of chambers of
      commerce and other local organizations to solicit the participation of
      businesses in the program and to compile a list of mentor and mentee
      businesses to be matched by the center. The center is also required to
      establish the terms and conditions by which entities may participate in
      the program including requirements for minimum quarterly and in-
      person meetings between mentor and mentee entities.

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