NYC’s Small Business Recovery

Total small businesses in NYC reached a new record high, but their characteristics have changed.

Small businesses—those with fewer than 50 employees—are the backbone of New York City’s economy. From startups on the cutting edge of innovation to neighborhood retail and restaurants, small businesses not only contribute to the overall size of the city’s economy, they add layers of diversity, enriching our neighborhoods and enhancing our quality of life. They strengthen our entrepreneurial ecosystem, create jobs, and drive economic growth.