Supporting the small businesses of our city
We’ve reached a “most wonderful
time of the year,” where our minds
turn to big Thanksgiving meals and
Black Friday deals to fulfi ll our holiday
Everyone’s looking for a bargain,
and thousands of shoppers across
the city will head out to the malls or
log on to fi nd the best deals possible
to please their families and friends
And let’s face it, that’s not a bad
thing. People should always go bargain
hunting and maximize how
they spend their hard-earned money.
But in doing so, we should spend
some of our money at the local small
businesses near our homes and workplaces.
Thed display of Modern Fresh’s brand new state-of-the-art store on Arthur Avenue. Hundreds of thousands of dollars were invested by the
store owner to provide an enjoyable shopping experience. File photo
BRONX TIMES REPORTER, NOVEMBER 2 12 9-DECEMBER 5, 2019 BTR
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Small businesses are no charity
case, and we’re not here to make
them sound like one. We all, however,
need to be reminded of their importance
to the city’s livelihood.
Every small business in New York
City is an employer — perhaps not to
the scale of a big-box store, but they
are job creators no less.
According to the city’s Small Business
Services department, 98 percent
of the city’s 220,000 businesses have
fewer than 100 employees; 89 percent
have fewer than 20. These businesses
employ millions of New Yorkers who
are taxpayers and pump billions of
dollars back into the local economy.
This leads to a certain co-dependence
on each other. When small
businesses do well, the city does well;
when small businesses struggle and
fail, the city suffers economically.
The late Art Buchwald wrote a column
in 1975 about economics and small
businesses, called “Squaring the Economic
Circle.” Essentially, when one
person stops using a small business, it
causes a domino effect which impacts
other businesses negatively, causing
an economic downturn.
Amidst all the challenges of New
York — the high costs of living, the
even higher rents, especially — every
dollar counts, and small businesses
are counting on every dollar
they can to stay healthy.
Part of the beauty of our city is
that you don’t need to travel far or
wait several days to get what you
want and need — you can go right
around the corner, or hop on a short
subway or bus ride, to fi nd it.
We’re thankful for our small businesses,
and we urge all of you to
throw some extra business their way
this holiday season.