Shop, business grant, NYC, small business, small businesses

New Money! NYC Small Business Services Aim To Revive Local Businesses With New Grants

New York City has announced a substantial allocation of grants aimed at providing a lifeline to small business owners.

In a concerted effort to revive struggling local businesses grappling with the aftermath of the pandemic, New York City has announced a substantial allocation of grants to provide a lifeline to small business owners, according to CBS News.

Among the beneficiaries of this initiative is the 9 Tails Coffee Shop in Harlem, a hidden gem between 125th and 126th streets. Barista Youssoupha Gueye, expressing the sentiments of many small business owners, emphasizes the need for increased visibility: “We need more signage. We need more stuff to show we are here.”

The city’s Small Business Services is spearheading this endeavor, recognizing the pivotal role small businesses play in the fabric of local communities. Commissioner Kevin D. Kim underscores the importance of these investments, stating, “Investment into the neighborhoods is [an] investment in the communities.”

The newly announced business grants, totaling hundreds of thousands of dollars, are designed to enhance the appeal of small mom-and-pop shops to local patrons. Kim emphasizes the multifaceted benefits these businesses bring, from promoting public safety through vigilant staff to maintaining cleanliness in bustling commercial areas.

Initiatives include augmenting commercial lighting in shopping districts and infusing music into public spaces, such as the trees along 125th Street. Barbara Askins, president and CEO of the 125th Street Business Improvement District, stresses the significance of ongoing communication and creating a memorable experience for customers.

Highlighting the severe impact of the pandemic, officials note the closure of 30,000 shops in the city. Councilman Oswald Feliz acknowledges the resulting challenges, stating, “That created vacated storefronts and that created quality-of-life issues.”

Despite these challenges, there’s a silver lining, as 1 in 6 businesses currently operating in the city has emerged since January 2022. Notably, half of these small businesses are now owned by immigrants, bringing diverse flavors, products, energy, culture, and enthusiasm to the city.

City officials stress the ripple effect of supporting local businesses, emphasizing that every dollar spent locally circulates back into the community. Commissioner Kim urges residents to recognize the symbiotic relationship: “It’ll come back to benefit them and their family as well.”

As the city strives to rejuvenate its small business landscape with these grants, business owners like Gueye hope the community will rally around local establishments, fostering a sense of unity and resilience.

RELATED CONTENT: 4 Success Tactics For Trailblazers In Business