There is much more to New York than its towering Sky-scrappers. For a start up to thrive, it is crucial to pick a favorable location. New York is an excellent location for any aspiring entrepreneur, thanks to various dynamics at play in the concrete jungle. In case you are wondering where to set up your business, here are sure reasons to consider New York City:
Presence of Major Players
One great thing about New York is the presence of major business players and the availability of resources necessary for small businesses to thrive. In New-York, you can find the major financial lenders and a host of renowned multinationals, making the city the place to be. Large companies based in New York include IBM, Verizon, JPMorgan Chas, Citi and Pricewaterhouse Coopers.
Large Community-Guarantees Market
As of 2019, New York’s population stood at 8.4 million, making it the USA’s most populous city. This large community is not just a melting pot of diversity but a constant consumer of products and services. With great innovation and persistence, the opportunities are limitless for any determined entrepreneur. New York’s population is hungry for new ideas and incredibly rewarding for innovative businesses.
Ease of Establishing Business
New York has well laid out standards and procedures for businesses wishing to set up in its territory. Nowadays, it is even much easier for start-ups who can seek the services of business registration agencies. These agencies take up the registration process and will furnish you with all the requirements, including the New York Seller’s Permit, as you engage with other aspects of your setup.
Availability of Qualified Employees
New- York attracts large masses of qualified job seekers from all parts of the world. The city’s vibrant economy provides a consistent supply of jobs for its ever-rising population. However, the pool of job seekers in New York is constantly growing, making the city ideal for businesses looking for skilled personnel to join their team.
Excellent Transport Infrastructure
The city of New-York is widely known for its ultra-modern transport network, comprising of the Roosevelt aerial tramway, ferry systems, ample buses, dozens of airports, commuter rails and numerous taxis. The city is way ahead of others when it comes to effective public transportation, easing movement into and out of the city. This makes it conducive for business owners to traverse the city in record time when they need to meet clients or close deals.
Efficient Public Services
The New York City Government has made great strides to make the city one of its kind in efficiency levels in modern times. This role encompasses various components of its economy, including revenue collection, fleet management, managing real estate, human resource management and Information Technology Management, which are all crucial for small businesses to survive.
Starting a business in any part of the world poses various challenges. Choosing an excellent location for your start-up can save you from uncertainty, giving your business abetter chance for survival. New York City presents a combination of strategic factors that are difficult to find in other parts of the world.