What Makes New York, NY the Best Place to Open a Business
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New York, NY is easily one of the largest and most iconic cities anywhere, boasting countless tourist attractions including the Statue of Liberty, Central Park, and the Empire State Building – not to mention countless businesses of all kinds. Maybe your new business will be one of them! Today, Sophisticated Cloud is here to tell you how.
Numerous Small Business Resources
Whether you’re thinking about launching a new business or you’re relocating an existing business from out of town, you’ll be happy to know that New York has everything you need. After all, the Big Apple is already home to over 200,000 small businesses that serve a population of over 8 million! Just some of the local organizations to help small businesses include:
Affordability
The average home in NYC costs $820K. Given the size of the city, it’s probably no surprise that rent can vary quite a bit, depending on the neighborhood you’re interested in. Remember to apply for any applicable services like energy-efficient mortgage assistance, down payment assistance, and the special homeownership voucher programs for New York residents.
While the cost of living in New York is higher than the U.S. average, this actually has positive implications for your business. A high cost of living is typically associated with a booming economy, highly educated workers, rich culture, good healthcare, and a competitive business environment in which entrepreneurs can thrive. New York has all this and more! Although you may be paying more for housing, business supplies, and labor, you’ll also be able to charge higher rates for your products and services.
High Quality of Life
Quality of life is generally high in New York. The city is famous for its parks, attractions, delicious food, and rich cultural events that can enhance your business and your life. Parents will appreciate how highly New York’s schools rank, and adults can benefit from a jaw-dropping list of great, well-established colleges and universities. New York’s high quality of life attracts top talent from all over the country, so you will have no problem finding qualified candidates to work for your business.
Your New York Business Quick-Start Checklist
Whether you’re launching a brand-new business or relocating an existing company from out of state, you will need to navigate a number of important steps before you can open to the public. You can find plenty of local resources online to help you complete the startup process. Here are a few of the steps you will need to complete before opening a business in New York:
Choose a business structure and file your Certificate of Organization with the New York Secretary of State.
Register your trade name to the City of New York. You can do this online.
Explore state loan programs if you need funding.
Research the zoning in the location you want to open your business.
Find out which local licenses and permits you will need.
Make sure your business complies with federal and state disability access laws.
If you’re thinking about moving to New York and opening a business, you’re in for a treat. This booming, energetic city is famous for a reason. No matter your needs, you’ll find plenty of highly skilled workers, affluent consumers, and desirable urban features that make New York a great place to launch a company, raise a family, and pursue your entrepreneurial dreams.
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