National Small Business Month: New York launches new programs to support local entrepreneurs

STATEN ISLAND, N.Y. — The nearly 700,000 small businesses that call New York home are getting some extra love from the state.

In honor of National Small Business Month, Gov. Kathy Hochul has announced new programs to support the state’s small businesses, including a $6 million Innovation Matching Grants Program which will provide application support and technical assistance for entrepreneurs applying for federal Small Business Innovation Research and Small Business Technology Transfer grant programs.

“Small businesses are part of the core of New York State’s communities,” Hochul said. “Through signature economic development programs, we are making sure small businesses in every corner of the state can compete, grow and thrive. We are building a modern 21st century economy and it could not be done without New York’s small business community, which is the backbone of our economy.”

The new program, administered by Empire State Development, will provide grants of up to $200,000 to local small business, with applications and guidelines now available online.

To support the nearly 100,000 businesses insured by the New York State Insurance Fund, the state has created a Small Business Support Team to assist new businesses with things like preparing audits, obtaining certificates of insurance, keeping accurate business records, managing claims and obtaining safety services.

New York State Insurance Fund policyholders will also have a new equal monthly billing option which will eliminate large deposits and allow businesses to spread their payments over the course of 12 months.

“We’re excited to celebrate National Small Business Month with programs and services that help drive growth and innovation for small businesses looking to thrive in New York. Under Governor Hochul’s leadership we are continuing to make New York State the most small-business-friendly state in the nation,” said Empire State Development President, CEO and Commissioner Hope Knight.

In addition to the new programs, Hochul announced that the state has reached its goal of shortening response times for Minority and Women-Owned Business Certifications to less than 90 days.

Under the Hochul administration, the state has provided more than $1 billion in support small businesses, including business recovery funding and seed funding during the coronavirus pandemic.

“Small businesses not only drive our local economies but they are the heartbeats of our communities, offering unique services and providing vital employment opportunities. At the DOL, we’re committed to supporting these essential pillars of economic strength. From offering customized solutions that meet diverse business needs to facilitating access to funding and technical assistance, we empower small businesses to thrive and expand their potential,” said New York State Department of Labor Commissioner Roberta Reardon.