Small businesses are a hugely important part of the economy. The Small Business Administration recently cited that over 99.7 % of all employers are small firms across the United States. Small businesses are especially important in NYC, employing approximately 1.7 million individuals as of Q4 2014. Recently, the Center on Urban Future, a NYC think tank, found that just over 90% of all NYC businesses actually had fewer than 20 employees. According to their research, this is a higher percentage than all but one of the 363 metro areas across the United States. This month’s economic snapshot is zooming in on small businesses to review and analyze trends, post-recession growth and ownership demographics in NYC.
'Tis the season for giving! As the headquarters for many of the world’s largest foundations, New York State ranks first in the nation in charitable contributions. This month’s economic snapshot looks at the data on charitable donations to shed some light on the giving economy in NYC.
The activation of commercial real estate is a critical means toward growing the middle class and advancing 21st century jobs. The November Economic Snapshot looks at commercial office development in New York City.
With Citywide Ferry Service set to launch in 2017, water transit in NYC is the focus of our August 2015 Economic Snapshot. Read on to learn more about the history of NYC's ferry service and highlighted stats about the upcoming ferry service.
Our first Economic Snapshot of the year spotlights the distribution of food manufacturing in New York City. Small businesses are driving growth, sustained by an increased demand for local goods and a steady supply of food-oriented entrepreneurs.
Our July Economic Snapshot examines the industries driving employment and establishment growth in NYC. From 2012 to 2013, 11 of the 18 major industry groups gained jobs relative to their historic trends.