Mayor Eric Adams and Department of Small Business Services (SBS) Commissioner Dynishal Gross have something to celebrate: savings for New York City's small businesses totaling over $50 million in fines and fees since the start of the Adams administration. In a moment that underscores a broader economic upswing for the city, this achievement is aligned with the administration's steadfast commitment to revitalize small businesses as proclaimed during "Jobs Week."
Adams has made it clear that supporting local entrepreneurs was a priority from the outset. "Small businesses have a large impact on New York City," he said, highlighting their role as the city's economic cornerstone, according to the City of New York. Their success is made even more significant amidst reports of the city breaking its all-time high jobs record for the eighth time, and unemployment figures decreasing across all demographics since he took office.
Commissioner Gross, echoing the mayor's sentiments, acknowledged the small business sector's vigorous rebound. Initiatives like the “NYC Business Express Service Team (BEST)” and the “Small Business Forward” Executive Order have streamlined processes, eased the burden of compliance, and fostered a productive environment for over 6,000 businesses. Providing one-on-one support, these programs not only help avoid fines but also shorten the time it takes for businesses to launch. Businesses, by navigating city government rules with this provided expert support, saved more than $42.5 million in fines and fees, as cited by the City of New York.
The economic ripple effect also extends to the workforce, with the Adams administration recording significant milestones in job placement through SBS's Workforce1 Career Centers. Serving over 71,000 New Yorkers, including vulnerable groups like individuals with disabilities, veterans, and immigrants, the centers provide essential services for job readiness and placement – a testament to tackling unemployment from multiple angles. By directly pairing pre-screened candidates with businesses looking to fill roles, these centers ensure a steady supply of talent across the five boroughs. This manpower mobilization is in line with the city's larger economic goals, which include addressing pressing needs like the nursing shortage through programs like the NCLEX-RN Training Program for English Language Learners. Celebrating a 94 percent pass rate among its participants, the program has been an additional bastion of strength in New York City's labor market recovery.
Representing the legislative cheerleading for these entrepreneurial victories, New York State Assemblymember Jenifer Rajkumar stated, "They employ a million people, generate over $3 billion in economic activity, and about half are immigrant-owned." Her advocacy for the economic empowerment of New York City's 183,000 small businesses is further bolstered by the Adams administration's efforts, as detailed by the City of New York. Saving businesses over $50 million is a robust step forward in nurturing the city's diverse and vital commercial ecosystem, allowing owners to reinvest in their enterprises. With these savings, small businesses can enhance their operations, maintain the tradition of hiring locally, and contribute more meaningfully to the societal fabric of the city's bustling neighborhoods.
