According to the SBA, there are more than 2 million businesses in New York. These businesses have employed up to 4 million people or about 50% of the state's private workforce. It is safe to conclude that the business industry is thriving in New York.
The state has the third largest economy in the US, which is a favorable prospect for those who are looking to set up business here. There are distinct advantages for new businesses and it's no surprise why it is a buzzing destination for startups. After all, it is the largest finance center in the US and a hotbed for entertainment and technology. It is also home to finance, banking, media, and telecommunication businesses.
While New York is not always business-friendly, there are tax benefits that business owners can take advantage of. The New Markets Tax Credit Program, for instance, provides funding for businesses in order to create employment opportunities in low-income neighborhoods.
You also have access to a huge talent pool in New York. Meanwhile, it is melting pot of culture so it provides access to a diverse market for your business. Finally, tourism in New York is booming all year round. There is plenty of opportunities to be exploited no matter what type of business you are in. For business insurance related info please refer to our more in depth article.
At the request of our visitors we've included the below local insurance contacts for most cities in New York. The state of New York requires all residents to have auto insurance in order to register their car. Policyholders must have New York State auto liability coverage - policies from other states are not an acceptable form of coverage. Our local contacts are the perfect resources for finding low cost insurance from companies that offer New York State coverage. Before buying insurance, it's always a smart idea to compare multiple rates and quotes if you want to obtain cheap coverage. Even though New York is known for its high prices, it's not difficult to find affordable car insurance. For additional information on traffic laws or driving schools please navigate to your respective state using the map. And for manufactured home insurance, please refer to the respective article.
Located in the Mid-Atlantic and Northeastern regions of the United States, the state of New York is one of the original 13 colonies that formed the country. The state is distinguished from its largest city and largest metropolitan, New York City. Its capital city, Albany, was one of America's first cities.
While New York City is widely considered as one of the greatest cities in the world, and known for its fast-paced and high-energy vibe, Albany is a historic haven mixed with modern marvels. While New York City has all the glitz and glamour of a modern city, the streets of Albany are like history books that houses some of the oldest sites in the country.
As of 2020, the state is home to more than 19 million people, making it the fourth most populated state in the country.
The state's economy ranks among the biggest and strongest in the world. It also accounts for a significant chunk of the overall gross domestic product of the country. Mostly, the state's economy is predominated by the service sector, followed by manufacturing.
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