July 26, 2022
Building on the Mayor’s Plan for Economic Recovery, the new funding will extend the program that provides personal assistance and resources through 2023
The program has already connected more than 10,000 small businesses with grants, loans and marketing tools
NEW YORK – New York City Mayor Eric Adams today announced a $1.5 million investment in New York’s Small Business Resource Network (SBRN), which will allow SBRN to expand its schedule through 2023. A public-private partnership of the New York City Economic Development Corporation (NYCEDC), the Partnership for New York City and Partnership Fund, the five borough chambers of commerce and the Peter G. Peterson Foundation, the SBRN has already supported more than 10,000 New York City small businesses, 76% of which are minority or women-owned. ownership: with free, one-on-one support to help them access critical resources to recover from the COVID-19 pandemic and meet the needs of the changing economy. The investment builds on Mayor Adams’ commitment to supporting small business, entrepreneurship and a more equitable economy, as outlined in his “Rebuild, Renew, Reinvent: A Plan for the Economic Recovery of New York City.”
“Small, minority- and women-owned businesses are at the core of the equitable and inclusive return our administration is delivering to New York City,” he said. Mayor Adams. “Thanks to this funding, the Small Business Resource Network will be able to provide more free, personalized support to thousands of small businesses in New York City. With more than 100,000 private sector jobs created over the course of our administration and five months followed by job growth, New York City’s economic recovery is in full swing.”
“New York City is anchored by the entrepreneurial spirit of small businesses, and the Small Business Resource Network proved to be a vital resource for New Yorkers during the COVID-19 pandemic,” he said. Deputy Mayor of Economic and Labor Development Maria Torres-Springer. “I’m glad to hear that this program has already reached over 10,000 businesses and helped them access the resources and tools they need to thrive; this type of public-private collaboration is exactly what our administration is all about.”
The SBRN provides support with grant and loan applications, marketing assistance, business strategy, accounting and legal services and digital tools. The funding will allow SBRN business recovery specialists to continue providing personalized guidance and access to more than 150 select public and private resources to small businesses in the five boroughs, with a focus on minority and women-owned businesses in low-income communities.
Among SBRN’s unique strengths is its ability to react quickly to emerging challenges facing local businesses, such as increased consumer demand for digital commerce options driven by the pandemic. In response, the SBRN launched “Open + Online” in July 2021 to build websites and e-commerce sites, and provide SEO consulting and brand development for small businesses that lacked a digital presence. To date, the program has already successfully expanded the customer base of hundreds of merchants and restaurants beyond their local neighborhoods and will complete 800 projects by the end of the summer. The Peter G. Peterson Foundation launched the program in September 2020 and funded its first two years with $5.6 million in grants.
“As powerful engines of employment and economic growth, New York City’s recovery depends on the success of the small business community,” he said. Andrew Kimball, NYCEDC President and CEO. “We are proud to witness the milestone of 10,000 small businesses that have already attended and to be part of the effort to expand SBRN’s programming in support of fostering a more equitable and diverse economy.”
“The pandemic hit small businesses hard, and the New York Small Business Resource Network offers critical resources to help them recover,” he said. Kevin D. Kim, Commissioner of the New York City Department of Small Business Services (SBS). “SBS fully supports SBRN’s efforts to lift up minority- and women-owned businesses as we move full steam ahead toward an equitable economic recovery.”
“Small businesses are the lifeblood of New York City’s economy and a powerful engine of growth and prosperity,” he said. Michael A. Peterson, CEO of the Peterson Foundation. “This collaborative network has helped more than 10,000 small business owners, focusing on businesses in communities hardest hit by the pandemic and in need of the direct services provided by SBRN. Expanding on this successful program, the city will be able to reach thousands more entrepreneurs, further empowering those who drive our city and helping ensure a stronger and more inclusive future for New York City.”
“The Small Business Resource Network helped thousands of small businesses weather the pandemic by connecting entrepreneurs with valuable resources to adapt and meet the demands of the digital economy,” he said. Maria Gotsch, President and CEO, Partnership Fund. “It serves as a model of effective public-private partnerships in its ability to quickly respond to and directly address challenges faced by local entrepreneurs. Thanks to Mayor Adams for ensuring this important resource continues” .
“Covid-19 highlighted the urgent need for accessible, high-quality business services in real time, meeting businesses where they are. The Small Business Resource Network does just that: providing vital services at the backbone of our economy: the businesses that make New York, New York In short, we’ve reached out and provided real-time services to more than 10,000 businesses in New York City, ensuring our city’s recovery is equitable and visionary of the future,” he said. Lisa Sorin, president of the Bronx Chamber of Commerce. “I am grateful to Mayor Eric Adams, the Peterson Foundation and the Partnership for the City of New York, as well as my colleagues at the five New York City Chambers of Commerce for their commitment to this program and this necessary investment in the fabric of our local economies”.
“The Small Business Resource Network represents one of the most effective models for business recovery across the country,” he said. Randy Peers, president and CEO of the Brooklyn Chamber of Commerce. “The Brooklyn Chamber team is proud of the work that has been accomplished over the past two years, and we thank the Adams administration and NYCEDC for recognizing the important role we continue to play in the city’s economic recovery “.
“This is a smart investment, as the Small Business Resource Network has already proven to be effective in strengthening local businesses and supporting new entrepreneurs after the pandemic,” he said. Jessica Walker, President and CEO of the Manhattan Chamber of Commerce. “This is an innovative public-private initiative that has changed lives and accelerated economic recovery. We are grateful to the Adams administration for helping push the model.”
“Thanks to the skill, knowledge and hard work of the business recovery specialists at the Small Business Resource Network, small businesses in Queens and across New York City are getting back to doing what they do best: creating jobs and serve our communities,” he said. Tom Grech, president and CEO of the Queens Chamber of Commerce. “We are grateful to Mayor Eric Adams and Andrew Kimball, President and CEO of the New York City Economic Development Corporation, for continuing to support this vital effort that has provided vital support to more than 10,000 small businesses, the vast majority of which are minority or women-owned. This effort would not be possible without the leadership and vision of the Peter G. Peterson Foundation and the Partnership for New York City.”
“We are very pleased that Mayor Adams has extended funding for the Small Business Resource Network beyond 2022,” he said. Linda Baran, President and CEO of the Staten Island Chamber of Commerce. “The effects of the COVID-19 pandemic continue to linger; it’s good to know that this administration has the back of our local small businesses. This funding ensures they will continue to receive the resources, advocacy and assistance they need.”
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