Overcoming Challenges: Strategies for Small Businesses in New York City

Small businesses are the lifeblood of New York City, offering a diverse range of products and services that are essential to our daily lives. However, these businesses are facing numerous challenges that threaten their existence. According to Ashley Ranslow, the New York state director of the National Federation of Independent Business, independent retailers are feeling the brunt of these challenges.

One significant issue that small businesses face is a shortage of employees, making it difficult for them to attract and retain staff. To overcome this obstacle and ensure their success, Ranslow suggested several strategies for businesses to implement. In addition to this, she highlighted the increasing costs of salaries and benefits as well as how federal interest rates impact small businesses.

As National Independent Retailer Month approaches in July, it is more important than ever to support and celebrate these vital businesses that contribute to our communities’ vibrancy. Ranslow emphasized the need for policies in the upcoming legislative session in New York that will help small businesses thrive despite the challenges they face. By working together to support these businesses, we can help ensure their continued success and presence in our local communities.