While New York City has fared relatively well emerging from the recession, the City That Never Sleeps does face a number of challenges in getting its massive small business sector back to work. The city's unemployment rate has been falling slowly, but remains high at 9.1 percent.
However, many analysts may take comfort in a recent small business employment survey that found higher-than-expected gains nationwide. The Intuit Small Business Employment Index registered 0.3 percent in growth in employment for December, marking a 3.4 percent annual growth rate and the creation of 57,000 jobs.
"Small business is still the most vigorous sector of the employment picture," said Susan Woodward, an economist who worked with Intuit to create the index. "We generally see a rise in employment for all businesses in December, but this year it is unusually strong. We can hardly see the recovery in overall national employment, but among small businesses, the recovery, albeit slow, is unambiguous."
While the Big Apple has seen a recent surge in entrepreneurial activity, particularly in its emerging tech industry, many are hoping the growth in small business employment will be complimented by entrepreneurs seeking to incorporate in New York City.
Tags : ny, operations, small business management
Posted: Jan 4th, 2011