Tuesday, February 20, 2024
Year : 2, Issue : 8
There is a positive sign for the economy and the state of New York. A new report shows small businesses across the country are booming, with applications for new businesses hitting a record last year.
It’s a delayed dream come true. After some roadblocks, Miguel Guadarrama opened up his East Williamsburg café with his mom in June of 2023.
“I was planning on opening something since 2018, 2019,” Guadarrama said. He said it was the COVID pandemic that truly prevented him from opening in 2020, but once the outbreak let up, his business, Café Miguel, took off.
Guadarrama an example of what the United States is reporting — new small businesses surging, post-pandemic. The U.S. Chamber of Commerce says in 2023, new business applications hit a record-breaking 5.5 million filed.
New York state saw an increase of 8.1%, with Brooklyn filing the most applications, almost 52,000.
“During the pandemic, there were a lot of businesses in the neighborhood, just waiting on the sidelines, waiting for a good opportunity,” said Yaz Mansi, community engagement manager for Grand Street Business Improvement District. Mansi says that opportunity is now, adding his district currently has some of the fewest empty shops, only 6.1% of the more than 150, and he credits the district’s cohesive mix.
Report shows Connecticut saw a slightly better increase compared New York, New Jersey is one of the few states that saw a decrease, with 1% less applications filed.
Source: CBS News
