Following the declaration of May as Small Business Month in New York City last year, the NYC Small Business Bureau (NYC SBS) held the inaugural “2024 Small Business Month Expo” on May 29 at Pier 36 in Manhattan. The event brought together hundreds of government agencies, community organizations, and banking enterprises from across the city to share essential information for starting a business, as well as details on government contracts and Minority/Women-Owned Business Enterprise (M/WBE) certifications, attracting thousands of attendees.
NYC SBS Commissioner Kevin Kim stated during his address, “We want to make life easier for small business owners. When speaking with Mayor Adams, Deputy Mayor Springer, and small business owners, we often hear feedback such as ‘I haven’t heard of this service’, ‘I haven’t heard of that service’, or ‘what more can you do to help small businesses?’ That’s why we are holding this expo.”
Kim further mentioned that over 10,000 people registered to attend the expo on the day, with more individuals signing up even as he spoke.
Mayor Adams, along with Deputy Mayor Springer, also attended the event. In interviews following his speech, Mayor Adams highlighted the removal of various restrictions since taking office, aiming to reduce unemployment and foster business opportunities for small enterprises, transforming New York – often referred to as the “Empire State” – into a business empire.
“The expo offers the public broad insights into the resources the government provides for small businesses, and we hope entrepreneurs can make good use of them. Bringing everyone together in the venue also allows for expanding business connections, exploring potential business partnerships,” Mayor Adams said.
The expo, led by various departments of the NYC Small Business Bureau, encompassed themes such as business education, licensing and legal services, information on small business loans, startup essentials, Minority/Women-Owned Business Enterprise certification forums, and government contracts, involving over 40 city departments. For small business owners, the event served as a valuable opportunity to directly communicate with government personnel.
Chambers of Commerce from Manhattan, the Bronx, Brooklyn, Queens, and Staten Island also participated, with representatives and business improvement district officials from various areas personally present at the event.
Wellington Chen, Executive Director of the Chinatown Business Improvement District (Chinatown BID), emphasized the urgent need for language support among Chinese business owners regarding government resources. He also pointed out loan and grant programs, and information on avoiding fines, all of which could be accessed at the expo.
Larry Mei, Director of the Business Assistance Center at the CMP Workforce Center (CMP), noted that the expo saw the highest participation of Chinese attendees he’s witnessed at a city-sponsored business exhibition, with a significant number of individuals visiting booths for information. Mei mentioned that the Workforce Center could serve as a bridge between aspiring entrepreneurs and government resources, offering occupational seminars and guiding individuals through the process of obtaining government licenses.
Workshops at the Small Business Month Expo included sessions on operating in the cannabis industry. Commissioner Kim joked during his speech about seeking information on applying for a cannabis business license by contacting the NYC Small Business Bureau, while directing those solely interested in marijuana consumption to look elsewhere – an Asian restaurant owner at the expo was interviewed, seeking insights into the cannabis industry.
Tom, a Chinese immigrant who has been in the U.S. for over 20 years and runs a restaurant in Queens, shared his plans to venture into the cannabis industry. Despite the legalization of cannabis businesses by the New York government, Tom noted the continued sensitivity surrounding operations in the industry. His visit to the expo was intended to gain legal resources required for opening a cannabis shop.
As New York City moves past the peak of the pandemic, its economy is gradually rebounding. According to a report released by the Partnership for New York City in April, the city added 90,000 job opportunities in 2024. Employers in New York City posted an average of 111,100 full-time job listings within the first three months of the year, a 40% decrease from the same period in 2020.
While the Small Business Month Expo provides crucial government resources for entrepreneurs, the realities of commercial rent, labor shortages, and equipment resources continue to pose challenges for small business owners.
Andrew Rigie, Executive Director of the New York City Hospitality Alliance, mentioned in an interview that many restaurants are still grappling with pandemic-related debts. Some establishments do not qualify for government grants or loan programs but are burdened by rental expenses and rising costs of labor and ingredients, placing them in a difficult position.
“Although the city has made incredible efforts, such as simplifying permit approval processes and reducing fines, there is always more work to be done,” said Rigie. He emphasized that the restaurant industry is the backbone of New York City’s economy. “I will continue to push for the relaxation of restrictions, reduction of fines and regulatory burdens, and support for the hospitality industry.”
Francisco Marte, founder of The Bodega and Small Business Group, stressed the importance of providing small business owners with more financial assistance and low-interest loans. He pointed out that physical small businesses are significantly impacted by online giants like Amazon, highlighting the urgent need for funding to upgrade equipment. Marte also called for elected officials to propose measures to protect small grocers’ leases, as failing to do so could leave businesses with nothing when leases expire.
Marte emphasized that public safety is a primary concern for safeguarding small business owners. “We need law enforcement officers to enforce the law, prosecutors to charge those who have been apprehended, rather than letting them roam the streets.”