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Money

Risky business (access required)

A recent Marijuana Banking Update from FinCEN, the Financial Crimes Enforcement Network of the United States Department of the Treasury, found that 515 banks and 169 credit unions nationwide serve cannabis-related businesses. Out of the approximately 5,000 banks nationwide, that’s a relatively small number to handle the estimated $18.3 billion in legal cannabis sales in 2020.

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handshake isolated on business background

The thing about set-asides (access required)

In March, Gov. Phil Murphy signed a bill requiring New Jersey school districts to incorporate instruction on diversity and inclusion. Some business leaders wish he’d do the same thing for entrepreneurs. It’s not as though the state has ignored minority business owners, they say. It’s just that the process is so convoluted — at the federal level too — that many small business owners get discouraged.

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Newark Bay Bridge, officially known as Vincent R. Casciano Memorial Bridge, connects the cities of Newark and Bayonne.

Walls and bridges (access required)

The U.S. in general, and New Jersey in particular, face some significant challenges when it comes to concerns like crumbling infrastructure and educational racial equality. Experts and activists who have called for government solutions to these issues have been cheered by President Joe Biden’s moves since he’s been in the White House. But is the country prepared to foot the bill? These kinds of issues have a sizeable local impact.

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Middle aged executive businesswoman sitting at computer and laptop and doing some paperwork. Home office.

Normal days (access required)

During a recent NJBIZ virtual panel discussion on Positioning Your Company in a Post-COVID Environment, one takeaway was that companies should be prepared for significant, long-term workplace changes. That observation was reinforced in conversations with executives from one high-touch industry — accounting — who confirmed that their traditional business model appears to be undergoing a shakeup.

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