Council Member Julie Menin, Chair of the Committee on Small Business, speaks at the committee hearing on June 9th. Image Credit: City Council

The New York City Council Committee on Small Business held a public hearing on a proposed digital portal to centralize the information and paperwork necessary to open and run a small business. On June 9, 2022,  the New York City Council’s Committee on Small Business held a public hearing on a proposed bill that would require the City to create and maintain the, “One-Stop Shop NYC Business Portal.” The Portal would be an on-line hub for information and functionality related to opening and running a small business. It is meant to make the process more efficient by allowing business owners to deal with all the necessary city agencies in a single, easily-accessible space. (read more…)

The Life Sciences sector has seen incredible growth in the NYC metro region. The Zoning for Economic Opportunity text amendment may change restrictions that make it easier for life sciences industries to expand and continue to grow. Image Credit: Tory Williams/EDC.

On Wednesday, June 1, Mayor Eric Adams outlined his, “City of Yes” initiative. This initiative is the next phase of his, “Rebuild, Renew, Reinvent,” plan to stimulate recovery from the COVID-19 pandemic. “City of Yes,” is built around a series of three as-yet-unwritten zoning text amendments to modernize and simplify zoning resolutions to encourage business growth, stimulate housing creation, and reduce the city’s carbon footprint. (read more…)

Mayor Eric Adams with the signed “Small Business Forward” Executive Order. Image Credit: Ed Reed/Mayoral Photography Office.

The executive order requires agencies to evaluate their most common summonses issued. On January 4, 2022, Mayor Eric Adams signed the “Small Business Forward” Executive Order to help small businesses face fewer fines and penalties as they continue to recover from the impacts of the ongoing COVID-19 pandemic. The executive order requests that agencies like the Department of Buildings, Fire Department, Department of Consumer Worker and Protection, Department of Sanitation, Department of Environmental Protection and the Department of Health and Mental Hygiene examine their business regulations to reduce fine schedules, allow cure periods, or provide warnings for first time violations.  (read more…)

Panelists discuss options on how to organize and plan for Tribeca’s future post pandemic. Image credit: CityLand

Panel welcomed small business owners, residents, and other interested parties for a discussion regarding Tribeca and the neighborhood’s ongoing economic recovery from the COVID-19 pandemic.  On March 4th, New York Law School’s Dean Anthony Crowell published an open letter in the Tribeca Citizen that discussed the economic impact of the pandemic on the Tribeca community and NYLS’s commitment to helping the neighborhood navigate its recovery following Covid-19. Dean Crowell wrote: (read more…)

NYC Comptroller Scott Stringer. Image credit: Office of the New York City Comptroller

Eighty-five percent of the survey respondents expect to go out of business within six months. On July 10, 2020, New York City Comptroller Scott M. Stringer released a comprehensive analysis of the economic hardships minority and women-owned enterprises (M/WBEs) are facing during the COVID-19 pandemic. In response to the survey findings, Comptroller Stringer announced new accountability measures to ensure the City is meeting its M/WBE goals. (read more…)

Council Member Rafael Espinal Jr./Image Credit: John McCarten and New York City Council

The law will help provide more opportunities for small businesses to remain in the City. On February 23, 2020, Introduction 1408-B was enacted into Local Law 35 of 2020. Introduction 1408-B requires developers to set aside affordable retail space for non-chain retailers within large City-funded affordable housing developments. The requirement will apply to certain affordable housing developments of at least 750,000 square feet that receive $15 million or more in City funds. The law, sponsored by Council Member Rafael Espinal, Jr., was proposed in response to the challenges local retailers face to remain in the City such as the recent increases in retail space rent and competition from chain stores.

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