New York, November 16, 2009 – The Department of Small Business Services (SBS) joins New York Entrepreneur Week (NYEW) as one of the event’s sponsors in the week-long event being held from November 16 through November 20 at Columbia University and Bohemian National Hall. Giving small businesses and entrepreneurs support to grow in New York City is part of the Bloomberg Administration’s Five Borough Economic Opportunity Plan.
“Supporting innovators and entrepreneurs is a critical component of the City’s Five Borough Economic Opportunity Plan and partnering with New York Entrepreneur Week helps us to serve this community better than ever," said Deputy Mayor Robert C. Lieber, who addressed entrepreneurs today during the first day of NYEW. "By providing networking opportunities, low cost incubator space and targeted support to set the stage for sector growth, we are ensuring that New York City is the place for growing businesses to locate."
New York Entrepreneur Week is featuring more than 120 speakers from 50 cities, 18 states and three continents. NYEW unites the state’s diverse entrepreneurial community, providing an exclusive educational experience for all entrepreneurs – from enterprising young idea-stage innovators to hundred million dollar revenue generators. The event includes keynote speeches from recognized business leaders, panels on a variety of topics plus a business plan competition.
“New York City is a unique place built on the ideas of innovative entrepreneurs,” said SBS Commissioner Robert W. Walsh. “We need to do everything possible, especially during these times, to keep this spirit alive. Our sponsorship of New York Entrepreneur Week is just one of the ways we are supporting these small businesses and helping to strengthen the City’s economy.”
The Bloomberg Administration has created various programs to help entrepreneurs start and grow their businesses in New York City. This summer, Mayor Michael R. Bloomberg and the NYC Economic Development Corporation (NYCEDC) welcomed the first 27 start-up companies to the first City-sponsored business incubator at 160 Varick Street in Hudson Square. The incubator is fully leased out and is already expanding by more than 30 workstations. Additional incubators targeted at sectors including fashion, food, media and technology will open in the coming months. To address the needs of a growing community off freelance professionals, NYCEDC also partnered with the Downtown Alliance to launch the Hive@55, a shared workspace facility at 55 Broad Street in Lower Manhattan.
In April, SBS started the FastTrac NewVenture program, a six-week boot camp, to help emerging entrepreneurs start new businesses. To date, 255 entrepreneurs have completed the program. Applications are currently being accepted for the next FastTrac class, starting on December 1st. For information go to nyc.gov/fasttrac.
In addition, in April NYCEDC and SUNY’s Levin Institute created JumpStart, a job training and placement program for workers laid off from the financial sector. Program participants take part in an entrepreneurial boot camp and then are placed for 10 weeks with New York City start-up companies. For more information go to www.levin.suny.edu/jumpstartnyc.
To reduce tax pressures on freelancers and small businesses, the City supported the elimination and reduction of the Unincorporated Business Tax for almost 17,000 small businesses, self employed New Yorkers and freelancers.
NYEDC is also in the process of creating an Angel Fund, an entrepreneurial investment fund, which could increase the level of early-stage angel investments available in the City by more than 25 percent.
“The Department of Small Business Services’ commitment to fostering small business growth in New York State is crucial to the maturation of New York’s entrepreneurial ecosystem,” said Gary Whitehill, Founder of New York Entrepreneur Week (NYEW). “We look forward to a long lasting partnership with a focus on implementing new and innovative methods for stimulating small business and supporting entrepreneurs throughout New York.”
SBS Deputy Commissioner David Margalit will be a guest speaker on a panel at NYEW entitled “Entrepreneurship in a Difficult Economy” on Thursday, November 19, during which he will speak about the opportunity to take advantage of services that the City offers to help businesses seeking to start, operate and expand. Throughout the week, representatives from NYC Business Solutions will be on hand to provide information about services available to entrepreneurs.
NYCEDC COO Tokumbo Shobowale will also be a guest panelist discussing “Entrepreneurship in a Difficult Economy” on Thursday, November 19. During the panel, he will speak about the City’s efforts to increase access to financing, space, and training for entrepreneurs.
NYC Business Express is a one-stop online tool that can help entrepreneurs identify and apply for the licenses, permits, certifications, examinations, or inspections needed to start their business in New York City Since its inception, NYC Business Express has received over 200,000 visits and more than 7,000 accounts have been registered. The site also offers information about incentives, and other useful resources for entrepreneurs. To learn more go to nyc.gov/BusinessExpress,
NYC Business Solutions is a suite of services offered by SBS to help businesses start, operate and expand throughout the five boroughs. NYC Business Solutions provides business courses, legal review of contracts and leases, help accessing financing and incentives, help navigating government, recruitment and training of workers, help selling the government, and minority and women-owned Business certification. To learn more, visit nyc.gov/NYCbusiness.
NYEW is a 501c(3) non-profit organization founded by 26-year old serial entrepreneur Gary Whitehill. NYEW is the first of its kind in New York State, and is also the largest aggregator of entrepreneurial events in the world during Global Entrepreneurship Week. NYEW provides a framework and the catalyst for conquering New York's economic challenges by aggregating the most important disparate entrepreneurial stakeholders so that founders, angel investors, venture capital firms and New York's top connectors can learn, grow, network and leverage opportunities to do what they do best: drive economic change in exponential ways. For more information, visit www.nyew.org
About The Department of Small Business Services
The Department of Small Business Services (SBS) makes it easier for businesses in New York City to form, do business, and grow by providing direct assistance to business owners, fostering neighborhood development in commercial districts, and linking employers to a skilled and qualified workforce. NYC Workforce1 Career Centers offer services to meet the needs of all jobseekers, including one-on-one job and career counseling, technical and educational services, workshops, and referrals to training providers. For more information on all of SBS’ services go to www.nyc.gov/sbs.