Every year there is outsized clamor linked with Black Friday and Cyber Monday and the close tie-in of those frenetic shopping days with supersized entities like Amazon, Walmart, Target and Macy's.
In the midst of all that buzz, it can be easy to forget another key rung in the American business sector, namely, the legions of small businesses that dot the country's landscape.
It is hard to overestimate the critical importance played by smaller businesses in the nation's economy.
Consider this: One financial article recently noted that small businesses "make up a huge part of New York City's economy."
How big? Reportedly, close to 90% of all businesses operating across the metro area employ 20 or fewer workers.
Small Business Saturday, which was launched back in 2010, seeks to spotlight the vitality of that singular realm by encouraging people to get out and patronize local businesses each year on a day sandwiched between Black Friday and Cyber Monday. As the above article noted, many stores across NYC's borough participate annually in the initiative.
At Rich Michaelson Magaliff Moser, LLP, we certainly appreciate the central role played by small businesses in New York and nationally. Indeed, our attorneys routinely work with diverse clients from that demographic across a wide universe of challenges and opportunities.
Among other things, our seasoned advocacy extends to risk identification and response; financing; formation and planning; employee-related matters; mergers and restructuring; vendor/supply issues and disputes; compensation concerns; and proven acumen in instances when litigation becomes necessary.
Small businesses are an important underpinning of American corporate culture and success. It is eminently satisfying as an experienced commercial law firm to support their growth and success.