Small businesses are the lifeblood of New York City’s local communities, and business improvement districts (BIDs) play a crucial role in supporting them. On Monday, the positive impact of the 75 BIDs in the city was recognized during outreach events held across the five boroughs. Commissioner Kevin Kim emphasized the importance of these districts, which cover 300 miles of commercial corridors and contribute $194 million annually to the economy.
In addition to their efforts, Mayor Eric Adams announced significant investments totaling nearly $7 million to support small businesses throughout the city. The goal is to boost tourism and revitalize commercial areas by driving economic growth and creating opportunities for local entrepreneurs.
One upcoming event that aims to promote and support small businesses is the New York City Small Business Expo, scheduled for May 29. This expo will bring together hundreds of businesses from across the city, providing networking opportunities and resources to help them thrive. The expo is a testament to the city’s commitment to supporting small businesses and fostering economic development.
