Photo via the Gotham Gazette
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New York City is the financial capital of the world, full of big businesses and corporations; it’s easy to forget the small businesses that keep us going. Thankfully, NYC BEST doesn’t forget. NYC BEST has helped over 8,500 small businesses and saved them more than $60 million in fines and fees. The program was initiated in response to the escalating challenges small businesses faced, such as navigating complex city regulations, high compliance costs, and lengthy bureaucratic processes that significantly hindered their operations and competitiveness. Unfortunately, many small businesses continue to struggle with city bureaucracy, licensing, inspections, and compliance costs. Programs like NYC BEST show how local government intervention can help small businesses survive and strengthen local economies.
What is NYC BEST? If you are like me, you’ve probably never heard of NYC BEST, especially if you are not from New York. NYC BEST was launched in 2022 through SBS, a New York City government department that supports small businesses and the city’s workforce, to help small business owners navigate permits, licenses, fines, and inspections. In my opinion, these small business owners have a passion, and that’s what they know; it’s unfair for them to get lost in all of the legality. BEST provides services such as pre-inspection walkthroughs, compliance consultations, and licensing support to help these owners focus on their dreams. During pre-inspection walkthroughs, specialists visit businesses to identify potential compliance issues early and offer guidance on addressing them before official inspections. Compliance consultations provide tailored sessions that guide business owners in understanding and effectively adhering to city regulations, reducing the risk of costly violations. NYC continued this work with Small Business Forward 2.0, announced in May 2025. Small Business Forward 2.0 focuses on cutting red tape and speeding up city processes. This will add to $50 million in savings business owners have already seen under Adams’ administration. Part of this was an investment in a new small business loan program called the NYC Future Fund, aimed at underserved communities. The NYC Future Fund provides financing to help small businesses access the capital they need to grow and navigate market changes.
As previously mentioned, NYC BEST’s major milestone was the $60 million in fines and fees saved for small businesses. From this change, NYC has reported a record number of small businesses, around 183,000, the highest in New York City history. 62,000 small businesses were created in the past two years alone, representing one in three of the city’s small businesses. Small businesses with fewer than 50 employees account for approximately half of all new jobs created. Over $265 million in grants and loans has been facilitated or administered to small businesses through SBS. These programs specifically expanded financing for minority and women-owned businesses. “This $10 million investment will serve as a catalyst for thousands of new businesses, particularly those owned by BIPOC and women entrepreneurs, that often face systemic barriers to traditional financing,” said First Deputy Mayor Sheena Wright.
Unless you own one or know someone who does, why should you care about small businesses? Small businesses make up 98% of NYC’s businesses and employ millions of residents. “Small businesses with fewer than 50 employees account for approximately half of all new jobs created.” Unfortunately, high compliance costs and fines historically posed barriers for small owners, especially in outer-borough and immigrant communities. Programs like NYC BEST are at reducing structural obstacles rather than providing temporary relief. NYC businesses had the highest average annual revenue in the country: $1,016,446. To put NYC’s approach in a broader context, cities like Los Angeles and Chicago have also initiated programs to support small businesses, yet New York City’s efforts are often highlighted for their focus on cutting red tape and providing substantial savings. A Forbes article confirms, “Construction firms have plenty of work, and the contractors that service them… are thriving.” Small businesses contribute to neighborhood development and revitalization. “They’re creating housing in Brooklyn in neighborhoods that my father told me not to drive through; now you have $1 million homes,” said Alan Rapaport of Rapaport Wood Flooring in Fort Lee, NJ.
To close, NYC BEST delivers measurable results, cost savings, and streamlined regulations, making it one of the city’s most effective small-business programs. As cities across the U.S. explore how to support small businesses after COVID-era losses, NYC’s model gives a practical example of a policy that works.
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This article was edited by Abigail D’Angelo.
John Virgil Aton 
Lara Ejzak 
Nadia Garriga