Small Business Finance News
Survey Says Small Business Owners In NJ Fear Being Sued
Written by Jenna Weiner
Published: 10/8/2010
Three out of 10 business owners in the Garden State have been involved in litigation in the past five years
Small businesses in New Jersey have found themselves in a place where few would wish to be - the middle of a court room.
According to a survey conducted by the Monmouth University Polling Institute, three out of every 10 business owners said that they had been sued or been threatened with litigation in the past five years, and one-third said they anticipated being sued in the next 10 years, the Newark Star-Ledger reports.
The report was commissioned by the New Jersey Lawsuit Alliance. Marcus Rayner, the group's executive director, told the news source that an unwarranted lawsuit can mean big headaches for entrepreneurs.
"It's a powerful law and should be used to protect consumers from businesses who are truly trying to defraud people," said Rayner in an interview with the news source. "But now, it can be used to punish all sorts of businesses."
The mood of small business owners in New Jersey has been steadily declining in recent months. In the latest news for small businesses in the state, only 36 percent of small business owners said that they were looking forward to an increase in sales, according to PNC's Economic Outlook survey.
Share this article
About Our News for Small Business Owners
If you enjoyed this article, you can find other breaking news for entrepreneurs on our site. We cover current news stories for business owners. In addition to breaking news for entrepreneurs, we also have tons of how-to articles that cover topics like getting business loans, buying advertising, selling a business and much more.
Additional Resources for Entrepreneurs