Surviving the Struggles: A Look into the Challenges Facing New York’s Small Businesses and Their Need for Support

New York’s residents often turn to small businesses for their shopping needs, whether it be for a special occasion outfit from a local boutique or everyday food items from nearby grocers. However, these small businesses face numerous challenges that threaten their survival and require support to continue operating.

Small business owners in New York are facing a variety of challenges that impact their ability to thrive, including employee shortages, increasing costs of salaries and benefits, and the impact of federal interest rates. Ashley Ranslow, the New York state director of the National Federation of Independent Business (NFIB), recently discussed these struggles in an interview with Spectrum News 1.

Ranslow emphasized the importance of recruiting and retaining staff, especially during a time when many are experiencing employee shortages. She also highlighted the increasing costs of salaries and benefits, as well as the impact of federal interest rates on small businesses. Additionally, she shared the NFIB’s priorities for the upcoming legislative session in New York, hoping to address the issues faced by small businesses in the state.

As July marks National Independent Retailer Month, it serves as a reminder of the importance of supporting local businesses and celebrating the unique contributions they make to our communities. By recognizing the challenges faced by small businesses and offering them necessary support, we can help them thrive and continue to serve the needs of New Yorkers.