NJJBA panel focuses on business survival

NJJBA panel focuses on business survival

The New Jersey Jewish Business Alliance hosted its Economic Development Forum last month at St. Peter’s University Sky Room in Jersey City. Participants from many industries met to talk about how businesses survive and thrive in the current economy.

David Rosenberg, NJJBA’s founder and executive director, welcomed the guests, sponsors, and presenters, and Gary Minkoff, a Rutgers Business School professor, was the moderator. Maksim Sheyn, the event chair, a Citizens Bank senior vice president and an NJJBA board member, chaired the meeting, saying that he hopes the program would “infuse some optimism in the current conditions and future conditions of the U.S. markets.” Ted Zangari of Sills Cummis and Gross P.C. recommended that business owners conduct a stress test to identify vulnerabilities in a company. Daniel Stolz, a bankruptcy attorney and partner at Genova Burns, explained how there can be benefits for some or all parties within bankruptcy cases. Sheon Karol, managing director of Hilco Corporate Finance, recommended that to stay advanced in this unstable environment, it is wise for business owners to invest in technology. Christopher Philips, Valley Bank senior vice president, talked about the role banks play in business loans and debts, stressing that businesses should make sure their debt service coverage is covered and that cashflows are set up correctly. For more information email info@njjba.com.

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