The mayor announced a $1.5 million investment in the Small Business Resource Network

Mayor Eric Adams. Photo credit: facebook.com/NYCMayor

On July 26, 2022, Mayor Eric Adams announced a $1.5 million investment in the NYC Small Business Resource Network. Building on commitments from the Mayor’s Economic Recovery Blueprint, this investment will allow Resource Network to expand programming through 2023.

The Small Business Resource Network is a public-private partnership for the City of New York and the Partnership for Partnership Fund, the Peter G. Peterson Foundation, the Five Borough Chamber of Commerce, and the NYC Economic Development Corporation (EDC). Peter G. The Peterson Foundation first launched the program in September 2020, funding its first two years through $5.6 million in grants.

In July 2021, the Small Business Resource Network launched its “Open + Online” initiative to help businesses without a digital presence. This initiative helps businesses develop websites and e-commerce sites, search engine optimization, and brand development. The “Open + Online” program has successfully expanded its customer base to hundreds of retailers and restaurants in local neighborhoods, and will complete 800 projects by the end of summer.

To date, the Small Business Resource Network has supported more than 10,000 NYC small businesses, 76 percent of which are minority- or women-owned. The program provides free, one-on-one support to help small businesses meet the needs of a changing economy and recover from the COVID-19 pandemic. The network assists with grant and loan applications, digital tools, accounting and legal services, marketing assistance, and business strategy.

Mayor Adams’ $1.5 million investment will enable business recovery experts to continue providing personalized guidance, as well as access to more than 150 curated resources, to small businesses in all five boroughs. The Small Business Resource Network will continue to focus on minority and women-owned businesses, particularly in low-income communities.

Randy Pierce, president and CEO of the Brooklyn Chamber of Commerce, shared that the Small Business Resource Network “represents one of the most effective models for business recovery anywhere in the country.” Jessica Walker, president and CEO of the Manhattan Chamber of Commerce, described the Small Business Resource Network as “an innovative public-private initiative that will change lives and accelerate economic recovery.”

NYCEDC President and CEO Andrew Kimball added, “As a powerful engine of employment and economic growth, New York City’s recovery depends on the success of the small business community. We are proud to see the milestone of 10,000 small businesses already supported and to be a part of SBRN’s efforts to expand our programs to promote a more equitable and diverse economy.”

Maria Torres-Springer, Deputy Mayor for Economic and Workforce Development: “New York City is anchored by the entrepreneurial spirit of small businesses, and the Small Business Resource Network has proven to be an important resource for New Yorkers during the COVID-19 pandemic. The program has already reached more than 10,000 businesses. 6 and I’m happy to hear that we’ve helped them access the resources and tools they need to thrive; this kind of public-private partnership is what our administration is all about.”

Mayor Eric Adams: “Small and minority- and women-owned businesses are a core part of the equitable, inclusive recovery our administration is delivering for New York City. Thanks to this funding, the Small Business Resource Network will be able to provide more free, personalized support to thousands of New York City small businesses. will be able.”

by: Cassidy strong (Cassidy is a CityLaw intern and a New York Law School student, class of 2024.)

Mayor Adams announced a $1.5 million investment in the NYC Small Business Resource Network on July 26, 2022.

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