Entrepreneurs bullish on local economy

   Although the township admittedly has seen fewer businesses opening in 2009 than 2008, Business Advocate Gene Strupinsky has noted Hillsborough still has embraced the opening of more than three times the number it actually had expected.

   As noted at the Oct. 27 Township Committee meeting, 56 new businesses have opened in Hillsborough this year with another five expected to open before the end of the year.

   ”Over the 12 months of 2008, we had approximately 100 new businesses in Hillsborough,” Mr. Strupinsky said. “With the economic situation that developed the end of last year, there was a rash of closings in the first quarter of 2009.”

   In noticing that, Mr. Strupinsky said, the township expected only about 10 to 20 businesses would open this year.

   ”The approximate 60 that have opened, despite the continuing economic situation, is a notable achievement,” he said.

   Much of the success in attracting new businesses, Mr. Strupinsky said, can be attributed to the work of the Regulatory Oversight Working Group, which was established in January to make recommendations to the Township Committee for ways in which businesses can be helped in the community.

   ”(The recommendations) have resulted in reduced fees, re-zoning changes and the elimination of bureaucratic obstacles that for developers and companies has meant opportunities for more diverse types of businesses, plus a reduction in the cost and time needed for them to obtain the required regulatory approvals,” he said.

   Much of the changes came through the township’s Economic Action Plan, which has seen about 15 ordinance changes to lower permit fees, switch zoning and change requirements for building.

   ”These are (businesses) that simply would not be here if not for the changes made by the Economic Action Plan,” Committeewoman Gloria McCauley said at the Oct. 27 meeting. “We have taken a very serious approach here in Hillsborough to the economic situation, and it is beginning to pay dividends.”

   Among the diverse types of businesses opening in Hillsborough this year have been Beach Body Fitness & Nutrition, Gibraltar Rock of Belle Mead, Hillsborough Podiatry Group, LFS Printing, Stress Less Parties, Pro Blinds Inc, Philly Soft Pretzel Factory, My Clothing Calendar, College Hunks Hauling Junk of New Jersey, East Coast Photo Booths, Body & Spirit Performance LLC and Desi’s Brick Oven Pizza.

   ”Hillsborough has a broad range of retail, commercial and industrial zones that can attract a wide range of business types,” Mr. Strupinsky said. “Medical, technology and environmental-based companies, plus start-up businesses, have found Hillsborough well-suited for their needs. They are able to find what they need in terms of costs, available space and flexible leasing arrangements.”

   Still to open in the coming months are such businesses as King Wings, Kol Marble & Granite and Stellar Academy of Hillsborough while Kiddie Academy and others are slated for openings or expansions in 2010.

   But what surprised Mr. Strupinsky in the list of new businesses was the number of day care centers that opened this year, including Our Nations Children Linguistic Day Care Learning Center, Lil Sparks Montessori and several others.

   ”I thought that with so many people losing jobs, the diminishing opportunities for re-entering the job market at the same level and salary and the expense of day care, that more women would choose to become stay-at-home mothers until the economic situation turned around,” he said.

   Although Mr. Strupinsky said he asked that question of several of the newer day care centers, they “remained bullish” and decided to open anyway.

   ”I hope that the vision of these new day care businesses proves to be more accurate than mine,” he said.

   Still, Mr. Strupinsky said, the economic crisis is always an issue, and he has found businesses are doing better than originally was anticipated. He said the status of the individual businesses has a lot to do with its own cash reserves, location and how it is managed.

   ”A major problem for those who have had difficulties has been monitoring and managing their cash flow during a period of both reduced revenues and delayed or lost receivables,” he said. “Overall, the business community has done better than we had anticipated a year ago, and Hillsborough has businesses that have not only survived, but are doing well and even expanding.”

   One such example, Mr. Strupinsky said, is the Class A office building on Raider Boulevard. About two years ago, he said, the occupancy rate was about 50 percent, but recently, the owners decided to focus solely on medical professionals in the building.

   ”During 2009, it became 100 percent full,” he said.

   Mr. Strupinsky said the opportunities available in Hillsborough make it an enticing place for new businesses looking to open in addition to Route 206 running through town and guaranteeing a steady stream of traffic.

   ”When locating a business in Hillsborough, our township has the additional advantages of being an attractive community for raising a family with an excellent school system and outdoor recreational and cultural attractions,” he said. “For businesses, population demographics with their diversity and high income and education levels are added benefits.”