On Wednesday, May 29, 2024, the NYC Department of Small Business Services (SBS) hosted the inaugural NYC Small Business Month Expo 2024.
This landmark event saw over 10,000 New Yorkers register for complimentary services, with nearly 3,000 attending in-person to access a wide range of resources tailored for small business owners at every stage of their journey, spanning all industries and boroughs.
Resources Galore
Attendees were granted access to an impressive array of over 150 free city programs and partner resources, including:
- Financing and legal assistance
- Support for hiring workers
- Opportunities for contracting with NYC through the M/WBE Borough Forum
- Direct engagement with representatives from over 40 city, state, and federal agencies
Workshops and Learning Opportunities
Nearly 1,000 participants took advantage of the expo’s 12 workshops, covering essential topics such as:
- Show Me the Money: Financing Your Business
- Making the City of New York Your Next Customer
- Developing a Marketing Strategy
- Getting the Keys! Legal Steps to Opening Up a Storefront
- All Things Nightlife!
- Staffing for Success
- NYC BEST is Here for Your Regulatory Needs
- FastTrac® Your Business
- M/WBE Triumphs: Tips & Strategies for Government Contracting Success
- Growing Your Cannabis Business
- Small Business Owners Unite! The Power of Merchant Organizing
- Be Ready for the Unexpected
Major Announcements and Investments
New York City Mayor Eric Adams and SBS Commissioner Kevin D. Kim launched the event with a significant announcement: a $10 million investment to establish the “NYC Future Fund.”
“… accelerate the growth of hundreds of new small businesses …”
This new loan fund aims to accelerate the growth of hundreds of new small businesses by addressing the shortage of affordable capital, particularly benefiting early-stage businesses, BIPOC, and women entrepreneurs who often face challenges in securing traditional bank financing.
Small Business Boom
On the same day, the NYC Economic Development Corporation (NYCEDC) revealed promising statistics: as of 2023, New York City is home to 183,000 small businesses, exceeding pre-pandemic levels by over 1,000.
Remarkably, 62,000 small businesses have been launched in the past two years alone, accounting for one-third of all small businesses in the city.
“… the city’s commitment to fostering entrepreneurship …”
The NYC Small Business Month Expo stands as a testament to the city’s commitment to fostering entrepreneurship and supporting small businesses, ensuring that every entrepreneur has the resources and opportunities to thrive.
Photo credit: NYC Small Business.
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