Small Business in New York

New York offers entrepreneurs a seemingly endless supply of opportunities, due in large part to the state’s population of over 20 million people. While the state as a whole boasts a welcoming environment for entrepreneurs, the New York City area plays a huge role in boosting small business success. In fact, Biz2Credit, an online credit resource that offers financing to small businesses, has ranked the Big Apple as the best city in the United States for small businesses for two years in a row.

New York City’s thriving construction industry and billion-dollar tourism market are two fundamental reasons why small businesses comprise over 98 percent of New York state businesses and employ millions of people. However, other New York industries (such as manufacturing, finance, and transportation) boast a large percentage of small businesses as well. While New York City offers easy access to a multitude of markets, New York state’s suburbs, rural areas, and smaller cities also present small business owners with a variety of opportunities.

If you’re thinking about starting a business in New York or just looking for information about the business climate there, this infographic offers an array of information about running a small company in the state. It covers income ranges for self-employed individuals and indicates the number of jobs small businesses have created in New York in previous years. The infographic also identifies reasons why people should consider starting a business in the state and provides detailed information about what percentage of each New York industry is comprised of small businesses.

Author: Chakraborty

Dr Chakrabarty is the Chief Innovation Officer of IntuiComp TeraScience. Earlier she was Assistant Professor of Delhi University, a QS ranked university in India. Before that she has held research positions in IITs and IISc. She holds 2 patents and over 20 publications in her name. Her area of research is in smart technologies, integrated devices and communications. She also has a penchant for blogging and is an editor of Business Fundas.