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NYC small business environment: a few observations

On Behalf of | Feb 23, 2018 | Business Formation & Planning |

Certainly more than any other city in the United States (and perhaps to a degree unparalleled anywhere in the world), New York City is home to an incredibly diverse and eclectic group of businesses. An individual walking through any of the city’s boroughs can immediately see the vibrancy and sheer consumer choice that readily sets the metropolitan area apart from all others.

Is that iconic uniqueness being unduly challenged these days?

According to one author and advocate, it is. Jeremiah Moss has written a book called Vanishing New York that posits a progressive shrinking of so-called “mom and pop” businesses across the city. He and like thinkers attribute that to things like a growing move toward the suburbs, a steady influx of chain-business rivals, spiking commercial rents and additional factors.

Although the loss of some businesses in and around the city is undeniable, many critics of the NYC-is-dramatically-changing view dismiss the idea that something fundamental is afoot. Indeed, they argue, select business closings are inevitable in any commercial environment, and even point to the business health of a community in which other entities continue to emerge and thrive.

That is what the company Biz2Credit — a major online marketplace for businesses seeking funding — believes. That entity ranks New York City as the best environment in the United States for small businesses.

We certainly acknowledge at the proven business law firm of R3M Law, LLP the many opportunities and benefits that beckon start-up enterprises and other businesses to the metro area. In fact, we noted in a recent blog post strong city efforts currently being made to make the area even more attractive for new business entrants and entrepreneurs.

By any standard, New York City stands tall for the opportunities it offers business actors. A proven metro commercial law firm can provide further information and strong legal representation for any client seeking to further key business goals.