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"A recent study commissioned by Citigroup, and conducted by the Economist Intelligence Unit, found New York to be the most competitive city in the world, edging out London for the top honour.
What's behind New York City's success?"
"A recent study commissioned by Citigroup, and conducted by the Economist Intelligence Unit, found New York to be the most competitive city in the world, edging out London for the top honour.
What's behind New York City's success?"
Fluff articles like this are written about every city on the planet.
New York is not particularly kind to small business but is rather a megalopolis catering to the most powerful corporation on Earth who eat "small businesses" for breakfast.
(Unless they arre referring to Duane-Reade, Starbuck's, Macy's and Subway as "small business.")
This is a misleading view because it totally misses one of the bigget obstacles in NYC for startups and other small businesses to overcome -- the cost of real estate. Whether its a factory, a workshop, a retail store, or office space, those costs are consistently higher in NYC (and not just Manhattan) than most of the rest of the country. Then add to that the cost of housing for the new workers a start up might want to attract, even though they can't yet pay the salaries commensurate with NYC housing prices, and its much clearer why businesses have a tough time making it here. Real estate is a serious deterrant to start ups and an ongoing problem for established small businesses that want to grow.
..because there are more consumers in one place than
anywhere else for small businesses to get exposure
i guess. it doesn't mean every small business will
prosper though; only the most popular, who then
stand a better chance to keep the lights on and
expand.
even though they can't yet pay the salaries commensurate with NYC housing prices,
They can always hire "interns" and pay them with "experience".
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