April 2022 • Volume 18 • Issue 4
NYC Small Businesses Recover after COVID CONTINUED FROM PAGE 11
25,000 restaurants that were previously in operation. During the pandemic, the department even went so far as to create a 24/7 hotline that handled over 80,000 calls for help. SBS also helped connect small businesses to a couple of hundred million dollars worth of grants and loans and formed a program called commercial lease assistance, which provided pro bono assistance for businesses to renegotiate their lease terms. Within SBS there are four major divisions: The first, the Division of Business Services, is what people traditionally think about when they hear about SBS. This division is dedicated to helping launch, operate, and grow businesses. The second is the Neighborhood Development Division which helps manage the 76 business improvement districts (BIDs) throughout the city. The third is the Division of Economic and Financial Opportunity, which is in charge of all of the Minority and Women Owned Business Enterprises (M/ WBE) certifications for New York City. Kim said that to date, there are approximately 11,000 M/WBE certified businesses. During the pandemic over $1.2 billion in COVID-19 relief funds
were awarded to MWBE businesses. The fourth division is dedicated to managing 18 Workforce One Career Centers throughout the city, connecting job seekers with careers and job training programs. “We are about trying to give access to capital, to give people the basic business services they need to support our neighborhoods by supporting the BIDs, and then connecting job seekers with training programs that lead to well-paid careers,” Kim said. In addition to the department’s four main divisions, Kim said that they provide several programs and services, such as BENYC—a robust mentorship program connecting over 1500 current and aspiring Black entrepreneurs—and NYC Quick Start, which helps aspiring business owners launch their companies by providing a small business advocate to help get through the regulatory requirements. However, it is important to note that SBS is not a regulatory agency. They only serve as an advocate, meaning that the department will do what they can to contact these agencies on the behalf of the business in order to help get through the process smoothly. “I think what people don’t realize is that you have to think about SBS as your free business advo-
cate,” Kim said. “We’re here, not as a regulatory agency, but to hold your hand if need be to get you through the opening and reopening process as soon as possible. That’s our sole goal.” Compliance advisors on the other hand are trained individuals with the department who understand what the regulatory agencies are looking for when they make inspections and they provide businesses with a free preview of what is required in order to be up to code. Back in January, Mayor Adams issued an executive order prioritizing the City’s economic recovery. The executive order, better known as “Small Business Forward,” called for the creation of an interagency working group to closely examine the fines being issued on small businesses, with the goal of seeing which could be reduced, which warrant a warning, and which can be eliminated altogether. “By mid-May, we will be making a recommendation to the mayor after our thorough analysis and discussions with the relevant regulatory agencies,” Kim said. SBS is also involved in the Mayor’s economic recovery blueprint, specifically the revamping of the NYC business portal website, which will provide one-stop services for small businesses.
“We want to make it so that small business owners can really focus on what they do well, which is operating their business,” Kim said. “And it’s a challenge. It’s not easy, but we’re hoping to also look at various technology tools to coordinate this kind of schedule.” He also understands that economic recovery actually promotes public safety. “When commercial corridor has a lot of storefront vacancies and no foot traffic, quality of life issues arise,” Kim said. “So we do all that we can to help mom-and-pop stores reopen, grow, and thrive.” One of the things that Kim said he hopes to accomplish as SBS commissioner is to improve the visibility of the agency. “We have so many resources and tools to help business owners in various stages of their business life, but if people don’t know that we offer these services, all of our planning and effort goes to naught,” Kim said. “If more people took advantage of our services, we feel that it’ll definitely speed up the reopening of businesses… it’ll definitely prompt the financial health of businesses.” For more information on the Deapartment of Small Business Services visit sbsconnect.nyc.gov or call (212) 513-6300.
FAQS
How can SBS help? For Starting Businesses •
Developing your business idea
Every business starts as an idea. Take advantage of free business planning courses to translate your business idea into a business plan. •
Seeking out advice
Get feedback on your business idea and plan. SBS offers handson, intesive instruction for your business plan and connects you with a business coach. •
Understanding your industry
Each
industry
has
different
demands. If you are a NYCHA resident, SBS offers specific programs to help build a food or childcare business. •
Writing your business plan
A business plan is a living document that serves as a road map for your business. SBS provides an online guide to create your business plan.
For Operating Businesses •
Securing necessary financing
•
Finding educational resources
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Licensing and permit approval
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Providing free legal advice
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Saving money through government incentives
•
Help building and training a team of employees
•
Help selling to government and corporations
•
Prepare for emergencies
Certifying with the City More than 10,000 businesses benefit from certification with the city, which enables these companies to compete for government contracts. NYC spends up to $17 billion per year on goods and services. Certification provides greater access to these opportunities.
What else does SBS provide? SBS provides assistance with licences, permits, grant applications, emergency preparedness, hiring, job training, identifying/avoiding violations from regulatory agencies, reopening storefronts, and establishing connections with local BIDs and Community Based Development Organizations (CBDOs). The department also focuses on programs centered around M/WBEs, Emerging Business Enterprise (EBE), Locally Based Enterprise (LBE), Equal Opportunity Employers (EEO), LGBT-Owned Business Enterprise (LGBTBE), nonprofit management assistance, and storefront improvement.
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