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MSA: New York-Northern New Jersey-Long Island, NY-NJ-PA
Best places ranking: #9 among large metro areas Population: 19,006,798
The sprawling New York metropolitan area is anything but homogeneous. Millions of people need all kinds of jobs and services, providing significant opportunities for startups. Business owners can shop around for services, like telecommunications, that would be monopolies in smaller regions.
Multiple state and local governments wrap the region in red tape. New York City, the only city in the U.S. that encompasses five separate counties, is notorious for rigid regulations, Byzantine tax laws, and vast bureaucracy. Fortunately, the public advocate's office helps to translate between owner-speak and city-speak, and neighborhood business improvement districts let storefront business owners negotiate with the city en masse. Rents, service fees, and wages are high, so NYC entrepreneurs on a budget look toward the edges of the five boroughs, where prices drop. New Yorkers often bargain-hunt, but they're willing to pay top dollar for high quality goods and services, which keeps the money coming in even when times are hard. The number-one reason people launch in New York, of course, is that it's New York. The city has been a symbol for entrepreneurial opportunity for hundreds of years. Natives and transplants alike fall in love with New York and New Yorkers, and soon they can't imagine themselves or their businesses anywhere else. -Rose Fox |
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Launch Toolbox:
Resources for getting started in New York City, NY
LEARNLocal startup resources
BORROWLocal smallbiz lenders
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New York City Business Statistics
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"The public advocate's office was really helpful when we were having trouble with the city -- they completely turned it around and made everything happen." -Jason Minter
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