As New York City navigates a transformative commercial landscape, a key insight emerges from the recent primary election: “supporting small businesses means investing in the commercial districts they rely on.”
This crucial takeaway comes into sharper focus through the lens of Zohran Mamdani’s campaign, which showcased how innovative strategies can effectively challenge traditional establishments, even without substantial financial backing.
Utilizing digital tools and leveraging strategic tactics, Mamdani was able to engage New Yorkers, reshaping the prevailing conversation around support for small businesses.
For the city’s small business owners, this election season highlights encouraging possibilities for the future.
In the economic landscape of New York, microbusinesses—defined as having fewer than 20 employees—represent about 15 percent of the city’s workforce, employing approximately 635,000 people.
This statistic does not encompass the estimated 65,000 app-based delivery workers who support these businesses, nor the growing number of gig workers and sole proprietors that flourished during the COVID-19 pandemic.
In New York City, microbusinesses predominantly thrive in sectors such as food service, retail, personal care, and professional services.
Critical to urban vitality, these enterprises are not typically found in shopping centers; rather, they invigorate the bustling retail streets and corridors that define urban life.
Yet, as retail experiences a profound transformation—shaped by hybrid work models reducing weekday foot traffic and consumer preferences increasingly influenced by social media—small businesses face the imperative to adapt.
Currently, over 60 percent of retail sales are digitally influenced, as reported by the National Retail Federation.
This shift particularly affects Gen Z and Millennial consumers who expect integrated online and offline shopping experiences.
Indeed, failure to meet these evolving expectations places small businesses at risk of falling behind.
Despite these challenges, the foundational principles of street-level retail remain vital.
For retail districts to thrive, they must become desirable spaces for consumers.
Drawing upon extensive experience with commercial districts nationwide, three enduring principles can help cultivate vibrant streets that attract and retain consumers:
Firstly, access matters.
Successful commercial corridors must be easy, convenient, and comfortable for visitors to reach.
This necessitates a multimodal approach to accessibility that includes reliable public transit such as trains, buses, and ferries, as well as well-designed biking infrastructure.
For instance, a study in Toronto revealed that replacing just 12 parking spaces with a bike lane quadrupled retail sales on that block.
In addition, walkable streets and, in some cases, adequate parking options remain essential.
Secondly, public spaces are crucial for driving foot traffic.
Safe, clean, and appealing public spaces, along with unique amenities, help draw people toward local businesses.
District-level marketing campaigns can significantly benefit small businesses that lack capacity for self-promotion.
Improvements in parks, plazas, and streetscapes also yield positive results.
Recalling personal experiences, a visit to the P.S. 69 playground in Jackson Heights often ended with a family stop at Lety’s Bakery on 37th Avenue—demonstrating the synergy between public spaces and small businesses that enrich neighborhoods.
Lastly, access to capital is paramount for small businesses.
In today’s competitive environment, investments in digital tools, physical improvements, and storefront enhancements are critical.
However, capital remains elusive, with US small businesses holding an average of only 27 days of cash reserves.
For Black- and Hispanic-owned firms, this figure is even lower, dropping below 21 days.
Compounding the issue, outdated signage regulations often limit businesses’ ability to market themselves effectively, necessitating more flexible options like blade signs, sandwich boards, outdoor displays, and affordable outdoor dining spaces.
Moreover, the impending generational transition, often referred to as the “Silver Tsunami,” poses another challenge.
In New York City, approximately 73,000 businesses owned by Baby Boomers are expected to change hands or close over the next decade.
Without appropriate support, these businesses risk being shuttered instead of passed down to new owners.
With the right frameworks and tools in place, a successful transition can facilitate these handoffs, whether to family members, employees, or aspiring young entrepreneurs.
For City Hall to effectively support small businesses, it’s essential to align the often-separate programs and policies affecting them across various agencies such as Small Business Services, Transportation, Sanitation, and Planning.
This alignment calls for decisive leadership from the mayor’s office, providing a comprehensive vision to invigorate and sustain the city’s small businesses.
As New York stands at a critical juncture, the city has both the opportunity and responsibility to reimagine support for small businesses in the contemporary age.
This moment demands proactive engagement and decisive steps to leverage an evolving urban landscape.
image source from：citylimits
