Designates month of July as "Diverse Business Month" in New Jersey.
Impact
The resolution reflects New Jersey's commitment to supporting economic diversity and equity. By officially designating July as 'Diverse Business Month', the state encourages government officials, community leaders, and business owners to engage in activities that promote the visibility and success of diverse-owned businesses. This annual observance provides a platform for discussion on the importance of inclusive economic practices and for addressing systemic barriers affecting these businesses.
Summary
SJR60 is a joint resolution that aims to designate the month of July as 'Diverse Business Month' in New Jersey. This initiative highlights the significant role that businesses owned by persons of color, women, veterans, and members of the LGBTQ+ community play in the state's economy. It aims to acknowledge and promote the contributions of diverse-owned businesses while raising awareness of the challenges they face, such as limited access to capital and significant disparities in state contracting opportunities.
Contention
One notable point surrounding SJR60 is the underlying recognition of disparities faced by diverse-owned businesses. Despite being key contributors to the economy, these businesses often struggle to secure formal contracts in areas like construction and professional services. The joint resolution serves as both a recognition of their contributions and a call to action to eliminate these barriers, potentially stirring discussions on how effectively the state can address these issues in practice.