How does New York state support small businesses?

A: New York State is working to support small businesses throughout the COVID-19 crisis, by providing up-to-date resources and information about economic recovery and COVID-19-related loans, funding and business counseling.

What to do for businesses in New York?

A: NYS is currently assessing options to mitigate hardships to NYS businesses. The federal government will allow the U.S. Small Business Administration (SBA) to issue Economic Injury Disaster Loans for businesses impacted by the coronavirus. These loans would allow businesses in certain areas to apply for low-interest loans from the SBA.

How to reopen a business in New York?

For up-to-date guidance and information, visit: esd.ny.gov/nyforward . You can also use the NY Forward Business Reopening Lookup tool to help determine whether your business is able to reopen and to review the public health and safety standards with which your business must comply.

How to comply with federal and New York law?

Federal and New York law impose certain notice and other obligations on businesses before conducting large-scale business closures, layoffs, or relocations. Under New York Law, businesses with as few as 50 employees may be covered and subject to a 90 day advanced notice period prior to implementing covered closures, layoffs, or relocations.

Is it difficult to do business in New York?

“The business tax code in New York is burdensome, which makes it difficult to do business as an entrepreneur,” said Warren H. Cohn, CEO of HeraldPR and Emerald Digital. “Taxes for small and medium businesses are extremely high, which often pushes small businesses out of the cityscape.”

A: New York State is working to support small businesses throughout the COVID-19 crisis, by providing up-to-date resources and information about economic recovery and COVID-19-related loans, funding and business counseling.

What are the challenges of running a business in New York?

Here are the challenges and opportunities in the state. New York businesses contend with high taxes and a complex regulatory landscape. The proximity to New York City provides excellent access to capital and skilled labor. There are more than 2 million small businesses in New York state, which employ 4 million people.

For up-to-date guidance and information, visit: esd.ny.gov/nyforward . You can also use the NY Forward Business Reopening Lookup tool to help determine whether your business is able to reopen and to review the public health and safety standards with which your business must comply.