Agribusiness
New York is home to over 30,000 family farms spanning 7 million acres, producing more than $5.75 billion in agricultural revenue annually.
Cybersecurity
43% of small businesses face security breaches yearly, costing them over $10 billion in 2023 alone; 60% close within 6 months of a major attack.
Disaster Recovery
In the last two decades, NY businesses have faced over $200 billion in damages from disasters like Hurricane Sandy, 9/11, and the COVID pandemic.
Government Contracts
The federal government awards contracts worth over $150 billion annually to small businesses. In New York there are significant additional contract opportunities from state and local government.
International Trade
In 2021, New York’s small businesses made up 93.4%, or 30,707 of all of the state’s exporters. These small firms contributed $37.8 billion which is 54.6% of the total export value from New York.
Technology
The SBIR and STTR programs are federal initiatives funding R&D in small technology businesses with commercialization potential, investing over $3 billion annually to drive innovation.
Community Initiatives
Our community initiatives focus on unique communities across New York and tackling the unique challenges and hurdles that they face. We ensure we provide specialized support, help amplify their voices and build solutions to address their unique needs.
Childcare Provider Program
New York has over 21,000 licensed daycare facilities. Childcare providers face major issues: 53% report staffing shortages, and 48% have raised tuition due to increased operational costs.
Entrepreneurs with Disabilities
10% of New York’s working-age population has a disability. An estimated 62.5% are not participating in the traditional workforce, fueling interest in entrepreneurship as an alternative path.
MWBE
As of 2023, NYS has 9,749 certified MWBEs and is aiming for a target where at least 30% of all state contracts are awarded to MWBEs. In 2022-23 $2.8 billion was awarded to MWBE-certified vendors.
Organización de Emprendedores Latinos
Latino entrepreneurs now make up about 25% of new U.S. business owners, with 52% of Latino-owned businesses founded by first-generation immigrants.
Veteran’s Assistance Program
Veteran-owned businesses make up a significant portion of the U.S. small business landscape, with approximately 304,823 veteran-owned employer firms in 2023, representing about 5.2% of all employer businesses in the country.
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