Is New York A Good Place To Start A Small Business In 2024?

I've had this said to me more times then I can count, "New York is a difficult place to be a small business owner." But apparently, New Yorkers shouldn't actually be scared off from opening their own businesses here.

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Did you know that New York State ranks fourth in terms of small business interest for 2024? According to a study by The Small Business Blog, New Yorkers are showing some serious entrepreneurial spirit.

We aren't number one but 4th place isn't bad. Utah takes the top spot with their residents looking for new business ideas like crazy. In fact, the study looked at search data from Google Keyword Planner and found that New York has an average of 330 monthly searches per 100,000 residents.

330 New Yorkers per 100,000 people are looking to start their own small businesses or side gigs. So, what kinds of businesses are our fellow New Yorkers searching for? Well, it's no surprise that terms like 'side hustle', 'side gig', and 'startup business' top the list.

We're always on the lookout for ways to make some extra cash since it isn't easy making a living in the Empire State. In 2023, over 2 million small to medium-sized businesses thrived in New York, so it's apparent that New York has a pretty big small business scene and could get bigger.

Let's not forget about the states that beat us to the top of searches for what it would take to start a small business. Utah, Arizona, and Colorado have a slight edge when it comes to small business interest, but we're aren't far behind. By the way, Nevada rounds out the top five.

On the other side we have Mississippi where they have the least interest of all residents in all states to start a small business or side job. The study also looked at how people really need additional sources of income across America.

With the cost of living on the rise, many households are looking for extra ways to make ends meet. In fact, the Bureau of Labor Statistics reports an 8.29% increase since 2021 in Americans taking on multiple jobs.

Whether you're dreaming of starting your own business or looking for a side job to bring in some extra cash, New York could be the place to be!