Small businesses are the lifeblood of New York City’s economy and communities. To support these businesses, business improvement districts (BIDs) play a crucial role in their local communities. Their efforts were recognized during outreach events held across the five boroughs on Monday.
Commissioner Kevin Kim emphasized the positive impact of the 75 BIDs in New York City, which cover 300 miles of commercial corridors and contribute $194 million annually to the economy. Mayer Eric Adams also announced significant investments totaling nearly $7 million to support small businesses, with the goal of boosting tourism and revitalizing commercial areas throughout the city. These investments are aimed at driving economic growth and creating opportunities for local entrepreneurs.
One upcoming event that aims to promote and support small businesses is the New York City Small Business Expo, scheduled to take place on May 29. This event will bring together hundreds of businesses from across the city, providing networking opportunities and resources to help them thrive. The expo is a testament to the city’s commitment to supporting the small business community and fostering economic development.
