Survey says: Doing business in these NJ cities could cost you… literally

Feeling wary about a contractor or other business is one thing. Imagine feeling like an entire city might be a sketchy place to do business.

Yikes!

A direct business loan lender called Advance Funds Network did a survey of small business owners across the country to see which cities were the best and worst for paying their bills on time. Sad spoiler: No Jersey cities were on the best list.

Womp womp.

As for the worst? We had four.

Survey of small business owners identifies the cities with the best and worst payers

Four New Jersey cities were among the most untrustworthy in the nation.

Paterson

"Once a manufacturing giant, now a patchwork of small contractors and service providers," the survey says.

Elizabeth

"A logistics and port hub where timing is everything — except when it comes to paying the bills. Trucking, warehousing, and import firms often run on credit and margin, pushing suppliers to wait their turn in line," the survey says.

Newark

"Newark’s economy now relies heavily on redevelopment projects and government contracts — both notorious for payment lag," according to the survey.

Jersey City

Businesses in Jersey City emerged as the most untrustworthy in the state. Many Jersey City firms are part of the overflow economy, considering how close they are to New York City.

"Additionally, as a smaller city without NYC’s deep liquidity, local vendors sometimes compete harder for payment priority, losing out to bigger contractors with more leverage or political pull," the study says.

The post above reflects the thoughts and observations of New Jersey 101.5's Kylie Moore. Any opinions expressed are Kylie's own. You can follow Kylie on Instagram.

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