Much like its demographics, New York City has an incredible level of diversity when it comes to sizes and types of businesses. From mom and pop eateries to Wall Street - it’s all there. For an entrepreneur, it can be an extremely exciting place. But it does take some guts, willingness to burn the midnight oil, and some ingenuity.
Unfortunately, New York's business environment has ranked low on the scale for its rather dismal tax policies - and that is putting it mildly. But there are still numerous opportunities to start, grow or expand a business there. It just takes some savvy financial planning.
A friend of mine recently opened up shop in what he says is a growing private sector. Despite Wall Street Syndrome, he is doing very well for himself. One way my pal saves on expenses is his lack of rent. No, he doesn’t do business out of his apartment, he has a virtual office with a fancy Park Avenue address for $50 a month. That’s incredible, given NYC's beyond expensive real estate market.
But it’s true. He has a Davinci Virtual Office with an assistant who answers his phone and forwards his calls. He loves the find-me feature because he likes to play hooky a lot. His name is on the directory and he has a lobby greeter for his clients. When he needs a conference room or day office, he just books one. He can order catering, too - which is less expensive and time consuming than going out and a lot healthier than eating at a greasy spoon.
He travels a lot for business development and often books rooms in different parts of the country - and the world - for just an hour, a day or more. This whole scenario is a testament to the fact that perceptions are all relative. One man’s challenge is another man’s victory. So really, anyone who wants to can start a business in New York City. There are never any guarantees -- but are there anywhere else?