Governor Kathy Hochul today joined the Empire State Development, and the Departments of Labor, Finance and Finance, and Agriculture and Markets to encourage all New Yorkers to support their local small businesses on “Small Business Saturday” on November 26, 2022. . Small businesses make up 98 percent of New York State’s economy and create millions of jobs across the Empire State, and by choosing to shop local on Saturday, and every day, New Yorkers invest in their neighborhoods, strengthening their communities. , and keeps tax dollars in New York State.
“Small Business Saturday is an opportunity for all New Yorkers to play a role in strengthening our economy, building vibrant neighborhoods, and keeping communities connected.” Governor Hochul said. “New York’s small businesses are the backbone of our economy, and because this community was hit the hardest at the height of the pandemic, my administration is fully focused on rebuilding it. I encourage New Yorkers to benefit from all these businesses.” Pick it up. Should be offering and buying locally this Saturday.”
Empire State Development Director, CEO and Commissioner Hope Knight said, “Every time you go to your favorite restaurant or gift shop and buy something new, you are supporting a local small business. Small businesses are the fabric of our community and when they grow, we all grow. ESD to our small and small businesses through many programs during the pandemic and beyond. But we can’t do it alone—everyday customer support is essential, and we encourage New Yorkers to support their local small businesses this Saturday and every day. sell it
New York State Labor Commissioner Roberta Reardon said: “Small businesses are the foundations of our communities. By shopping at these businesses, we support families, jobs and New York State’s diverse economy. I encourage New Yorkers to shop small and often at these Small Business Saturdays and Sundays. Holiday shopping all season long.”
Amanda Heller, Acting Commissioner of the Department of Taxation and Finance, said: “Small businesses have been hit hard during the pandemic and are only just beginning to recover. To help with this process, the state has a full range of business tax credits and incentives. I urge small business owners to visit our website Check out these credits and incentives on page I also encourage New Yorkers to shop small this weekend and throughout the year.
State Agriculture and Markets Commissioner Richard A. Ball said“New York is home to more than 33,000 family farms that produce world-class food and beverages. Our hard workers take great pride in feeding their neighbors and fellow New Yorkers, and are truly vital to our state. This holiday season, I encourage you to give thanks for the delicious food and thoughtful gifts you share with family and shop local for supporting your community’s producers.
Small Business Saturday celebrates the entrepreneurial spirit of small business owners and invites customers to visit local stores at the start of the busy holiday shopping season. The small business sector is a major contributor to New York’s economic base, employing more than 40 percent of New York’s private sector workforce. Today, New York State has more than 549,000 small businesses that employ more than three million people.
New York State Support for Small Businesses
Under Governor Hochul’s leadership, New York State is providing more than $1 billion in grants through a series of programs and initiatives designed to support small business growth and help entrepreneurs maximize their opportunities for success. do
Recently, Governor Hochul announced that New York State has received $501.5 million in federal funding through the State Small Business Credit Initiative (SSBCI), a program through the federal American Rescue Plan Act. Administered by the U.S. Department of the Treasury, SSBCI provides funds to support programs for small businesses, focused on recovery from the economic impact of COVID-19 and to allow Socially and Economically Disadvantaged Individuals (SEDI) – Succeed in property business opportunities. The post-pandemic economy. New York’s $501.5 million in SSBCI funding includes a $377.1 million core allocation as well as $124.4 million for Socially and Economically Incentivized Enterprises (SEDI). Learn about New York State’s suite of SSBCI programs here. Other programs to help small businesses include:
- New York State’s $200M seed funding grant program launched in September. This program is designed to provide assistance to early-stage small businesses in the recovery of New York State’s economy. This program is open to businesses currently operating with annual revenue between $5,000 and $1,000,000 that began operations on or after September 1, 2018, for more information on eligibility requirements and how to apply. Visit nyseedgrant.com.
- The $250 million COVID-19 Capital Expenditure Tax Credit Program provides financial assistance to New York State small businesses that are burdened with a range of operating expenses caused by the COVID-19 pandemic, including structural changes and health-related goods and supplies. From raising. The program offers relief from additional economic burden by providing tax credits to eligible businesses to help mitigate the financial impact associated with the pandemic. Small businesses can receive a tax credit of 50 percent of eligible expenses up to $25,000 in tax credits based on $50,000 of eligible expenses.
New York State also supports a network of Entrepreneur Assistance Centers (EAC) in communities throughout the state that provide mentoring, training, technical assistance, and support services to individuals who are interested in or have recently started their own business. Or entrepreneurs looking to expand. or strengthen businesses in their early stages. To find an EAC near you, visit https://esd.ny.gov/entrepreneurship-assistance-centers.
The NYSDOL offers free services for all businesses, including more than 220,000 job postings on the NYSDOL website, access to tens of thousands of qualified candidates in our talent pool, career fairs and Traditional appointments. , and human resource consulting services. Thousands of businesses work with the NYSDOL each year to list their jobs, find the right candidates, access hiring and training incentives, receive business tax credits and incentives, get help with labor law and safety and health compliance services, and find Sources of discount prevention. For more information, visit: https://www.labor.ny.gov/business. The department will also launch a new PSA on social media, promoting New York State’s small businesses and encouraging New Yorkers to shop small this holiday season.
New York State offers dozens of tax credits and incentives to help small business owners and entrepreneurs make a positive impact in their local communities. Small businesses can always access a variety of resources and programs at the Department of Revenue’s dedicated business incentives website, a one-stop shop for details on tax credits and incentives for companies in a variety of industries – agriculture and From agriculture to research and development. production
Businesses may apply for job credits and incentives for hiring and training local workers, or for tax credits and exemptions aimed at encouraging property development. The Department of Revenue’s website, www.tax.ny.gov, has information on available credits and incentives, as well as details on new income tax exemptions for many small businesses. Online services for business websites provide efficient ways to make payments, view filing information, or otherwise communicate with the tax department.
The New York Department of Agriculture and Markets supports New York’s agriculture industry, which includes more than 33,000 farms, 700 farmers markets and farm stands, and thousands of small agricultural businesses. The department also administers the NYS Grow and Certified Program, which markets local farmers and producers who participate in safe food handling and environmental sustainability programs, helping them better compete in the marketplace. does Additionally, the Taste NY program showcases New York’s food and beverage businesses at major public events and at Taste NY stores, state welcome centers, exhibits and concessions in more than 70 locations throughout New York. This year, ShopTasteNY.com, Taste NY’s online marketplace, will be offering several deals throughout the holiday weekend, including 40% off sitewide on Black Friday, 50% off on Small Business Saturday and Sunday. discount, and a provision. $25 e-gift card when you spend $50 or more on Cyber Monday. New Yorkers can also shop for the holidays at Taste NY Welcome Centers, which will feature local producers with gift baskets that include local food, handmade goods and other unique products. Find out more at ShopTasteNY.com. The department supports small agribusinesses and farmers with critical services that help them grow their businesses and increase productivity, profitability and competitiveness.
How to support small businesses every day
- Shop local – Try shopping at small, local stores instead of big box chains. By shopping small, you stimulate your local economy as small business owners buy goods and supplies nearby.
- Buy Gift Cards – Many small businesses, your favorite restaurant, bar or coffee shop, your neighborhood specialty retailer, or your local hair salon, offer gift cards or gift certificates. By purchasing gift cards, it will be a necessary investment in this business past the holiday season.
- Visit your local farmer’s market – Many outdoor farmers’ markets may be indoors this time of year, but there are still many one-of-a-kind, unique offerings. From crafts to seasonal greens – your local farmer’s market is a great place to support local small businesses.
- Visit or order takeout or delivery from your local bar or restaurant – don’t forget to tip well. Restaurant workers have been hit the hardest by the pandemic. Many restaurants still offer curbside delivery.
- Give Positive Reviews – If you’ve found a great product, food, or service, or even a great promotion or sale, let your friends and family know. Don’t forget to leave a great review on your social media feed. The best advertising is word of mouth.
- If you want a return, take store credit on the return – if you can. It keeps money in small businesses and every little bit helps.