Empowering New York City’s Small Businesses: The Launch of the NYC Future Fund

In honor of NYC Small Business Month, city officials have announced the launch of a new $10 million investment, the NYC Future Fund. This fund aims to address the gap in affordable capital access for small businesses in their early stages of growth and help them expand and flourish in New York City.

New York City is home to 183,000 small businesses, which is the highest number ever recorded. Over the past two years alone, 62,000 new small businesses have been established. While many new businesses have emerged in central business districts, it is important to note that the net growth of small businesses has been most pronounced in the outer boroughs.

North Brooklyn has been particularly successful in small business recovery, with an increase of 1,000 new small businesses since 2019. This growth underscores the dynamic and diverse small business landscape in New York City. The NYC Future Fund will be a valuable resource for entrepreneurs looking to start or grow a business across various neighborhoods throughout the city.

By providing access to affordable capital for these businesses at a crucial time in their development, the NYC Future Fund will not only support their success but also contribute to the economic vitality of New York City as a whole.