Protecting Small Businesses

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Working to Protect and Grow Our City's Small Businesses

Roughly 98 percent of New York City firms have fewer than 100 employees. These firms employ almost half of all New York City private sector payroll employees and are without a doubt the backbone of our economy.

As City Comptroller, Bill has worked tirelessly to create a healthy and successful small business environment in New York City. Among his efforts, he has:

• Spearheaded an initiative that allows City funds to be deposited in new bank branches in under-served communities throughout the five boroughs. With total deposits of $200 million, these Banking Development Districts have nurtured the growth of new businesses, created new jobs, and promoted community revitalization.

• Proposed establishing a database within the New York City Department of Business Services in coordination with our City's largest companies and non-profits to identify available space that could be used by established and emerging businesses.

• Highlighted the growing impact of self-employed New Yorkers in a report that documented how self-employment has accounted for about one-half of New York City's job growth over the past 10 years.

• Identified taxes, fines and fees that unfairly hamper the growth of businesses.

• Proposed changing tax regulations that unduly burden small firms, such as the unincorporated business tax, or UBT, and the double taxation on sub-chapter S corporations.

As Mayor, Bill will work to implement the following 10-point small business plan:

1. Create a citywide Local Retail Retention Taskforce where employers, workers, and the City collaboratively develop new mechanisms to better support small, retail sector employers.

2. Create new zoning tools, such as Retail Retention Zones, that restrict the type and size of retail establishments in targeted areas in order to prevent large, national chains from putting locally-owned retail establishments out of business.

3. Incentivize property owners to keep rents low by using financial tools like Real Estate Tax Abatements and Commercial Rent Tax Special Reductions developed by the Downtown Alliance and approved by the NYC Department of Finance.

4. Reform the Department of Small Business Services so it provides real, customized assistance that helps small businesses open and stay afloat, including one-on-one counseling to connect business owners with government programs such as low cost financing, tax incentives and the City's Industrial Business Parks, such as the Brooklyn Navy Yard, which provides reduced cost space.

5. Streamline the permitting and inspections process for new small businesses trying to get off the ground. Applicants should be assigned a Department of Small Business Services point of contact who they can work with to complete permit applications and schedule onsite inspections.

6. Ensure that developers who receive City financing for commercial developments over 50,000 square feet are required to reserve retail space for locally-owned businesses.

7. Develop a centralized, online, searchable database of all available commercial space under 5,000 square feet to connect vacant space with tenants looking for new commercial space.

8. Stop the ticketing harassment of small businesses that has resulted in legally parked trucks-making store deliveries-receiving parking violations.

9. Ensure that drivers first receive a warning when they are illegally double parked and inside their car-instead of automatically receiving a ticket.

10. Increase communication and coordination between the Department of Transportation, local businesses, and merchant associations in order to facilitate more timely repairs to roadways, sidewalks, and signs.