It is fair to say that New York City is one of the most famous places in the entire world, and whether you visit it for business or pleasure, it is a place that most people want to see at least once in their lifetime. Therefore, it is no surprise that it is a hot spot for small businesses, with the Small Business Administration (SBA) estimates that there are currently around 2.2 million small businesses set up in New York today.
These small businesses have around 4 million employees, which makes up over half of the private workforce. This country offers huge benefits to small business owners as it is the center of the world’s economy. New York powdered many economics engines for its beneficial services.
As New York has one of the third-largest economies in the country, it would be bad for you if you would not at least consider doing business in the Big Apple. If you are planning on opening up a business in the Big Apple, then here are the top 6 benefits of doing so.
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The Location
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New York City is well known everywhere in the world, and no matter how many miles away you are from it, its reputation precedes it. Therefore, if you were to do business there, you would also be able to benefit from the location’s reputation. It is one of the world’s largest financial centers, and to say you have an office here is at the very least impressive to potential clients. The location has so much to offer, from the sights and attractions to the business districts that are ready and waiting for new minds to get set up.
It is Buzzing with Start-ups
The benefits of doing business here are so plentiful that many new start-ups from all over the world come every year to get their piece of the Big Apple pie. New York has recently been named one of the top cities in America to open a small business, especially those in the IT and entertainment industries. Some of the more famous start-ups in New York in recent years include BuzzFeed, Etsy, and Birchbox.
The Accommodation
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If you do decide to do business in New York City, then you won’t be short of places to stay while you are there. There are many different types of accommodation available to suit your needs that can offer a home away from home. You may decide to start or relocate your business for a trial period, and in this case, you should look into renting a furnished apartment available for both long-term and temporary lets.
There are furnished, and equipped apartments in New York City offered for mid to long-term stays by companies like theblueground.com. It’s premium and comfortable accommodation that you can make your own for the duration of your stay.
Tax Benefits:
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New York is the biggest and most powerful city in the world as it is the house of many elite universities and colleges. The new graduate students provide immense value to the business world. The corporation franchise tax of this country helps to grow a small business. The state attempts many financial reporting; for business, it minimizes taxes.
It imposes four ways to calculate the due taxes of the business owners; those were based on various subjects. The simple calculation based on net income. For small business which net income is less than is 290,000 dollars then they will pay 6.5% from their total income. The corporation taxes may be based on business capital investment and liabilities.
New York also has a few different tax incentives and benefits that give a helping hand to the small businesses that are trying to start up. For example, START-UP NY is a program established to help new businesses grow by providing innovative academic partnerships and specific tax-based incentives. It also helps to facilitate direct access between businesses and schools so that start-ups can benefit from resources and industry experts, not to mention the chance to operate for ten years tax-free. That is not a benefit to be snubbed at!
Reputation:
The prestigious image of a country can help to begin a business. The prestigious images of any operating offices in New York are a great advantage for companies that help to hold the world market. Reputation immensely influences over the worldwide eCommerce, culture, finance, fashion, politics, entertainment, and many more that are representing the industries.
It is Easy to Get to
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Another great benefit of doing business in New York City is that it is very accessible from other countries all over the world. Not only are there many different local airports to choose from when you are based in New York, including major hubs like JFK airport and La Guardia, but two of the main ones also fly internationally, meaning that you can easily get to anywhere in the world.
Transportation
The main strengths of New York are its smooth and strengths transportation service that is essential for any successful business. The higher speed and efficiency of the transportation system help this city to grow a small business. New York City is beautifully interwoven with the help of numerous routes and services. The flexible staff system of this country remains your greenery look. If you want to really enjoy the ride, you could get a limo from a company like Islip Limo.
Huge Talent Pool
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Another benefit of doing business in New York City is that thousands of professionals head there every year to find work, extending the large pool of experts and potential employees that already reside in the city. It is estimated that around 45 percent of New Yorkers are college-educated, and many college-educated individuals come from all over the country to find the best jobs. Caddell Prep has been able to recruit tutors who are graduates of the NYC specialized high schools, including Staten Island Technical HS. If you are looking for the best professionals to employ for your business, then New York is the place to be.
There are many benefits to doing business in New York, and if you want to be at the center of a unique and diverse business hub, then it is the perfect location for your company! Are you considering doing business here? Let us know.
