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.
New York Fashion Week may be over, but the impact of living in one of the epicenters of the global fashion world is felt year-round. In the September 2015 Economic Snapshot, we look at the history of fashion manufacturing in NYC and where it is today.
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.
In the July 2015 Economic Snapshot, we explore the employment trends and growth of the TAMI sector in New York City. TAMI subsectors such as app and software development, research and development, and broadcasting are often characterized by rapid growth, creativity, and innovation.
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.