Owning a Business in NYC should be easy
To make it a better experience for you, NYCEDC has put together a comprehensive guide of incentives for business in New York City. From financing to tax to energy to R&D, NYC has incentives for all industries to run a successful business!
Click on the digital booklet (to the right) to read it in full and scroll down to find the websites of the resources mentioned in the guide.
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NYC SBS Funds Finder
This platform is a program of NYC Small Business Services, powered by Next Street. On the platform, small businesses can access funding products and connect with Financing Advisors who can provide guidance on suitable financial products, help with document preparation, and connect with multiple providers.
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NYC Accelerator Services
Provides free on-site compliance consultations to help businesses navigate rules and regulations, obtain permits, and open or expand their operations quickly.
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NYC Business Solutions Centers
Offers a range of services including business planning, financing assistance, legal advice, marketing strategies, and operational guidance through one-on-one consultations.
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Business Improvement District (BID)
Collaborates with local BIDs in the Bronx to support businesses in specific commercial districts, including marketing campaigns, beautification efforts, and events to attract customers.
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NYC Industrial Development Agency Tax Incentives
If an industrial project is in an Industrial Business Zone (IBZ), a full land tax abatement may be available (after 20 years, benefits phase out at not more than 20 percent per year). For industrial projects outside of IBZs, land tax abatements may be further abated based on the value of improvements.
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NYC Small Business Continuity Loan Program
Offers zero-interest loans up to $75,000 to help small businesses recover from physical damage or economic losses due to emergencies or disasters.
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Commercial Lease Assistance Program (CLAS)
Provides legal services and lease negotiation assistance to small businesses facing rent increases, eviction threats, or other commercial lease challenges. Supports small businesses in obtaining affordable commercial space by offering financial incentives to property owners who provide long-term leases at below-market rates.
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NYC Business Express
An online platform that simplifies the process of starting, operating, and expanding a business by providing step-by-step guidance, resources, and access to permits and licenses.
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NYC Restaurant Resource Guide
Offers specialized support to restaurants, bars, and food-related businesses in the Bronx, including permits, health code compliance, menu development, and marketing strategies.
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NYC Department of Small Business Services (SBS) Certification
Helps eligible small businesses in the Bronx obtain certification as Minority and Women-Owned Business Enterprises (MWBEs), which offers access to government contracts and procurement opportunities.
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BankOn
Bank On’s goal is to ensure that everyone has access to a safe and affordable bank or credit union account. BankOn partners with many banks in New York, such as Webster Bank and Spring Bank.
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NYC Love Your Local
A campaign that promotes and supports local businesses in the Bronx, providing resources, marketing assistance, and exposure through a directory and social media platforms.
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NYC Small Business Resource Network
Connects small businesses in the Bronx with a network of experts and industry professionals who offer pro bono services, including legal, financial, marketing, and technology assistance.
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NYC Commercial Expansion Program (CEP)
Offers tax incentives to businesses expanding or relocating to certain areas of the Bronx, encouraging investment and job creation.
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NYC Employee Ownership Initiative
Provides resources and guidance to help small businesses in the Bronx transition to employee-owned models, such as worker cooperatives or employee stock ownership plans (ESOPs).