The United States is regarded as the land of opportunity, and rightly so. Small businesses have been the backbone of the United States’ thriving economy for many years. Most businesses that are started begin with a passion, someone’s lifelong ambition, which then turns into a small business.
New York is no stranger to small businesses; it ranks 4th in the U.S. for the most number of small businesses in the state. If you want to be a small business owner, then New York might be for you!
The Empire State is considered to be one of America’s economic powerhouses. Over the past several years, it has been consistently voted as one of the top states for business due to the government’s pro-business approach, having the fourth-largest workforce, an excellent education system that produces many skilled workers, proximity to one of the world’s largest consumer markets, and quality of life like no other.
Number of Small Businesses in New York
So, how many small businesses are there in New York? There are 2,267,870 (2.3 million) small businesses in New York, according to the latest figures (2022) from the SBA.
It is not just Americans and New York small business owners that set up shop in New York; the state is a hotbed for international entrepreneurs. Hispanic entrepreneurs in New York account for 13.1% of all New York business owners.
The following bar graph shows the number of small businesses in New York in 2018, 2019, 2020, 2021 and 2022.
Of the 2,267,870 small businesses in New York in 2022, there is a wide array of different enterprises from small, one-person sole proprietorships or LLCs, local businesses serving specific areas, and much larger businesses with several hundred employees. If you want to join the 2.3 million-plus small businesses in New York, it is fairly easy to register a business in New York.
To be a small business owner in New York, you have to qualify as one. So, to operate as a New York small business, you must have a company with less than 500 employees.
Let’s take a deeper dive into the number of small businesses in New York by looking at the top industries, business owners, local businesses, employees, and more!
Small Businesses Statistics in New York for 2022:
- Small businesses equate to over 99.8% of all businesses in New York.
- There are 4,134,448 small business employees in New York, 48.1% of the state’s employees.
- Small businesses employing fewer than 20 employees created the most job gains!
- There are 679,000 self-employed minorities in New York, demonstrating the diversity in the state.
- Trade is huge for New York businesses, and there are 31,887 small business exporters in New York.
- There are more professional, scientific & technical services in New York small businesses than any other type – 335,071.
- Transportation and Warehousing firms make up the 2nd largest small businesses in New York – 256,388.
How Many Small Businesses in New York?
Over 2.3 million New York small businesses are a lot to be registered in any one state. When you look at the size of the Empire State’s economy and its influence on business, it is hard to argue as a small business owner why so many have chosen New York.
Compared to the rest of the U.S., the total number of small businesses in New York is 6.8% of all U.S. businesses. There are 33.2 million small businesses in the U.S.
New York has an incredible amount to offer employers, employees, companies, and entrepreneurs worldwide.
The state has small business development centers, economic development councils, and an abundance of business resource centers, and as a small business owner, you have access to one of the largest consumer markets in the country.
As an entrepreneur, you can take advantage of international access by land, sea, and air, world-class infrastructure, an extremely healthy import/export market, strong population and job growth, and an amazing education system.
If you would like to download the latest 2022 Small Business Profile on New York from the U.S. Small Business Administration, Office of Advocacy, the full Profile can be downloaded here.