Joseph P. Addabbo Jr's Reports

Energizing New York's Small Businesses

While headlines focus on individual unemployment and the travails of big-name firms, New York City’s small businesses have suffered greatly in the current re- cession. Even in the best of times, small firms in the city often get by with razor thin profit margins. But with their customers spending far less in this downturn while many of their fixed costs—from taxes and rent to insurance—remain as high as ever, numerous local companies have had to downsize or shut down. Countless others are just trying to hang on until business picks up again.

Energizing New York's Small Businesses

April 15, 2010
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