News Summary
New York City is experiencing a significant increase in small business startups, with 73,900 new ventures established since January 2022. This rise is attributed to the resilience of entrepreneurs navigating post-COVID challenges, highlighted by examples like NYCakes Boutique and Bodega City. Local support programs are aiding business owners in overcoming licensing hurdles and enhancing their online presence. The upcoming Small Business Month Expo further emphasizes the crucial role small businesses play in community and economic recovery.
New York City is witnessing a remarkable boom in small business startups following the economic disruptions caused by the COVID-19 pandemic. The NYC Economic Development Corporation reported that from January 2022 through the third quarter of 2024, a total of 73,900 new small businesses were established in the city. Notably, 23,400 of these ventures were launched in the past year alone, which translates to one in every eight new businesses formed.
The surge in entrepreneurship is reshaping local economies and communities throughout New York City. One cited example is NYCakes Boutique, which opened in Long Island City in November 2024. This business was founded by Martin and Gaby Miranda, who found their passion for cake decoration from a class Martin gifted Gaby nine years ago. Prior to establishing their showroom, the couple ran their operation from home and rented commercial kitchens.
The Mirandas took advantage of resources offered by the Queens Chamber of Commerce and the NYC Department of Small Business Services to facilitate essential licensing processes, such as obtaining a certificate of authority and a health letter grade. To enhance their online presence, they also engaged with a program called Open and Online for web design, which included setting up a Google Business page and receiving support for SEO.
The NYC Department of Small Business Services’ Commissioner highlighted the need for entrepreneurs to effectively navigate the complexities of licensing and permits, suggesting the use of the MyCity Business portal as a valuable tool. Furthermore, assistance through mock walkthroughs with former city inspectors is provided to help business owners prepare for inspections.
Most of the newly established businesses fall under the category of sole proprietorships, with many operating from home, showcasing a trend that speaks to the adaptability of entrepreneurs in the face of changing economic landscapes. The city is also preparing for a free Small Business Month Expo on May 29 at Center415 in Manhattan, aimed at celebrating and supporting local business growth.
Another notable entrepreneur is Jeremy Batista, who successfully transitioned from a food truck to opening a brick-and-mortar restaurant called Bodega City inside the Ogden Market Center near Yankee Stadium in April. Initial challenges involving permit delays and construction have not hindered Batista’s ambitious plans, which include a second location in Williamsburg.
Therese Gedda, CEO of Reimaginez, is among those advocating for a strategic approach to entrepreneurship. She emphasizes the necessity of understanding target customers and encourages budding business owners to develop plans for best-case, worst-case, and breakeven scenarios to prepare for financial contingencies.
The observance of Small Business Month in May serves to highlight the integral role small businesses play in sustaining local economies and communities. In a positive development for the larger business landscape, Delta Air Lines reported investments surpassing $1 billion in small businesses in 2023, which supported approximately 3,500 jobs in the process.
A recognition of excellence in small businesses led to awards for entrepreneurs including Melissa Baideme of CK Natural Fruit Juice, LLC, who was named the New York State Small Business Person of the Year as well as receiving the New York Small Business Development Center Rural Business of the Year honor. Her company focuses on freelance distribution of juice concentrates while aiming to support local agriculture.
Other notable award recipients include Julie Ambrose from St. Elmo Spa and Carrie and Levi Swanson from Sweeterson Farms. These awards underscore not only the resilience of these businesses but also their contributions toward economic growth and community support during tough times, such as those experienced during the pandemic. The Swansons emphasized the significance of family within their kitchen boutique business, which has seen remarkable growth since it was founded.
This surge in small business startups in New York City reflects a broader trend of resilience and innovation, as entrepreneurs seize opportunities in the post-pandemic landscape.
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