News Summary
New data from the U.S. Small Business Administration reveals a significant increase in small businesses in New York since the pandemic. With 73,900 new formations, the Professional, Scientific, and Technical Services sector leads. However, the Accommodation and Food Services industry continues to face challenges. The city’s Department of Small Business Services is actively supporting entrepreneurs through various programs, including an upcoming Small Business Month Expo to foster networking and resource sharing.
New York has seen a notable rise in small businesses post-pandemic, according to new data released by the U.S. Small Business Administration. The report highlights significant growth across various sectors, particularly in Professional, Scientific, and Technical Services, which boasts the highest number of small businesses in the city. With the total number of small businesses in New York reaching 73,900 new formations since January 2022, the trend indicates a resurgence in the entrepreneurial spirit despite ongoing economic challenges.
The Professional, Scientific, and Technical Services industry is leading the way, with 273,386 small businesses counted in 2023. Following closely behind, the Transportation and Warehousing sector has 248,731 businesses, while the Real Estate, Rental, and Leasing industry ranks third, featuring 190,336 small businesses. The Health Care and Social Assistance sector secured fourth place with 189,643 small businesses, and the Construction industry rounds out the top five, comprising 189,568 small businesses.
Despite the overall rise in small businesses, not all sectors are thriving equally. The Accommodation and Food Services industry continues to face challenges, with only 77,046 small businesses operating in 2023. This decline can be attributed to rising costs, staffing shortages, and changing customer preferences that have affected hospitality and food service operations.
The period from January 2022 through the third quarter of 2024 has marked a historic moment for entrepreneurship in New York, with 23,400 new small businesses started in just the past year alone. This influx reflects a growing determination among aspiring business owners to establish their ventures amidst changing economic conditions.
Success Stories of New Entrepreneurs
Two notable success stories illustrate the diverse landscape of new businesses emerging in New York. Martin Miranda opened NYCakes Boutique, a customized cake shop that transitioned from a rented kitchen space to a showroom in Long Island City. This change has allowed him to better showcase his products and cater to a larger client base.
Meanwhile, Jeremy Batista launched Bodega City, a new eatery inspired by his childhood memories. The establishment, which focuses on nine distinct chopped cheese sandwiches, opened its doors in April 2025 and represents a personal venture that connects heritage with culinary innovation.
City Support for Small Businesses
The New York City Department of Small Business Services (SBS) is playing a crucial role in facilitating the growth of small businesses through a variety of resources and programs designed to assist entrepreneurs. Initiatives such as the Open and Online program provide web design support to help businesses establish their online presence, demonstrating the city’s commitment to fostering a supportive environment for new ventures.
The SBS Commissioner has noted that the most significant growth in small businesses can be observed in waterfront areas of Queens and Brooklyn, areas that have attracted many new entrepreneurs. To further support this growth, New York City is set to host a free Small Business Month Expo on May 29 in Manhattan, aimed at providing resources and networking opportunities for prospective business owners.
Importance of Networking and Strategy
Entrepreneurs are encouraged to identify their ideal customer base and build a strong network of support to enhance their chances of success in the competitive business landscape. Additionally, strategic planning and scenario analysis are emphasized as critical components of a successful entrepreneurial journey. These insights underscore the importance of preparation and community in navigating the complexities of running a small business.
In summary, the surge in small businesses across New York marks a revitalization of the local economy as the city continues to recover from the pandemic’s impacts. With various sectors seeing growth, and resources available for entrepreneurs, New York remains a landscape rich with opportunity for aspiring business owners.
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Additional Resources
- CNYBJ: New York SBDC Presents Awards to Small Businesses
- Wikipedia: Small Business
- U.S. Chamber of Commerce: Small Business Grants and Programs
- Google Search: Small Business Funding
- CBS News: NYC Entrepreneurs on How to Start a Business
- Encyclopedia Britannica: Entrepreneurship
- CNY Central: CNY Businesses Awarded Upstate NY Small Business Owners of the Year
- Google News: New York Small Business
Author: STAFF HERE NEW YORK WRITER
NEW YORK STAFF WRITER The NEW YORK STAFF WRITER represents the experienced team at HERENewYork.com, your go-to source for actionable local news and information in New York, the five boroughs, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as New York Fashion Week, Macy's Thanksgiving Day Parade, and Tribeca Film Festival. Our coverage extends to key organizations like the Greater New York Chamber of Commerce and United Way of New York, plus leading businesses in finance and media that power the local economy such as JPMorgan Chase, Goldman Sachs, and Bloomberg. As part of the broader HERE network, including HEREBuffalo.com, we provide comprehensive, credible insights into New York's dynamic landscape.
