Foster an environment in which small businesses can succeed
Small businesses are critical to the city’s growth, providing entrepreneurial and employment opportunities to New Yorkers; delivering important local services; and attracting residents and visitors by adding to the urban fabric that makes New York City so compelling. Recognizing the importance of small businesses to the City’s economy and character, New York City will seek to address the challenges they experience in starting and expanding. In recent years, small businesses (with fewer than 100 employees) and very small businesses (with fewer than 20 employees) have grown more rapidly than large businesses, in terms of percentage change in number of establishments. Small businesses, especially neighborhood retailers, support economic mobility for a diverse range of New Yorkers, from immigrant families to low-income entrepreneurs looking for a pathway to the middle class.