The backbone of New York City are small businesses, which offer a wide range of products and services. However, these businesses face challenges that threaten their survival. Independent retailers are particularly impacted by these difficulties, according to Ashley Renslow, director of the New York State National Federation of Independent Business.
One major challenge that small businesses face is the lack of employees. This makes it difficult for them to hire and retain staff. Ranslow offered strategies to help overcome this obstacle and ensure continued success. She also highlighted the rising costs of wages and benefits, as well as the impact of federal interest rates on small businesses.
As National Independent Retailer Month approaches in July, it is more important than ever to support and celebrate these businesses that are essential to our communities. Ranslow emphasized the need for policies to support small businesses in the next legislative session in New York. By coming together to support these businesses, we can help ensure their continued success and presence in our local communities.