New York SBDC Research Network

Annual Report on the State of Small Business Empire State Development 2019 Annual Report on the State of Small Businesses In accordance with section 134 of the NYS Economic Development Law, Empire State Development (ESD) is required to compile an annual report on the state of small businesses, particularly businesses with less than 25 employees which are often referred to as “microbusinesses.” Please note that the data provided in this report are the most recent available. The data includes such topics as:  Growth & Economic Trends of Small Businesses Employment and Economic Data of Small Businesses in New York State Programs to Improve Small Business Growth in NYS Employment in New York State Small Businesses with 0 - 19 Employees, By Industry (4th Quarter 2017*)  Improving the Business Climate State & Local Business Regulations

Excerpt from an article by Megan Ray Nichols To read more, visit Thomasnet "You probably already know about consumer sharing services such as Uber and Airbnb. These services involve the peer-to-peer acquiring or providing of goods and services, which are selected by users via an online platform or app. This system is mutually beneficial, since the people who rent out their cars or houses on these marketplaces and platforms can earn money and develop a positive reputation, and the people purchasing have a viable, often much more affordable and personalized alternative to traditional services. When the greater economy subsides, the sharing economy rises. In these situations, people generally have less individual wealth to devote to temporary goods or services, prompting them to search for shared resources. The sharing economy is also growing as the supply chain shifts. Consumers now expect fast deliveries, from anywhere in the world. As a result, shared fulfillment centers

From the Office of the New York State Comptroller : Among the more than 455,000 businesses in New York, over 451,000 are small businesses. In addition, there are over 1.6 million non-employer businesses in New York, which are primarily self-employed individuals. Of the small businesses with paid employees in 2013, almost two-thirds had fewer than five employees, with over 80 percent having fewer than ten employees. These 369,000 microbusinesses provided nearly 943,000 jobs with total payroll close to $40 billion. Businesses with fewer than 20 employees reported total employment of nearly 1.5 million, with total payroll of $63.2 billion. Over the most recent decade for which figures are available, New York’s small businesses fared better than the nation’s on three key metrics – number of firms, employment, and total payroll. Small business employment in the State rose by a net 1.6 percent, or 59,000 jobs, in the ten-year period through 2013, while declining nationally by 1.1 percent

From the Bureau of Labor Statistics High-tech industries are an important part of the U.S. economy, employing nearly 17 million workers in 2014. While this accounted for about 12 percent of total employment, the high-tech sector contributed almost 23 percent of output. According to a study funded by the Workforce Information Council, the high-tech sector can be defined as industries having high concentrations of workers in STEM (Science, Technology, Engineering, and Mathematics) occupations. Although the term high-tech has been notoriously difficult to define, as technology changes all the time, this analysis provides an approach to defining jobs that are in in this sector. This issue of Beyond the Numbers applies the approach used by WIC to Bureau of Labor Statistics (BLS) data on industry employment and output. It provides an overview of which industries make up the high-tech sector and analyzes historical and projected industry employment and output data from the BLS Employment

This week, the Office of Advocacy released the Annual Report of the Office of Economic Research, FY 2015. This report details 26 OER publications and eight Small Business Economic Research Forums that were produced during fiscal year 2015. This year, OER produced research on the following topics: ·         Access to Capital ·         Employment ·         Innovation ·         Minority- and Women-owned Businesses ·         Veterans The report includes links to all the original documents. It can be found on Advocacy's website at https://www.sba.gov/advocacy/annual-report-office-economic-research-fy-2015

Sentiment among sole proprietors and other small business owners fell in July, according to the latest Thumbtack survey, suggesting similar readings in other surveys. Thumbtack noted concerns about future conditions and referenced headlines about Greece. Inflation expectations fell further and employment sub-indexes were lower. The Thumbtack index of small business sentiment has shown a tendency to anticipate moves in other sentiment indicators. • The Thumbtack sentiment index dropped ... Its three-month moving average has also declined modestly, bringing it in line with declines in major consumer sentiment surveys, although it has remained somewhat more resilient than the Small Business Optimism Index published by the National Federation of Independent Businesses (NFIB). All four indexes have declined over the course of 2015. Bloomberg See Thumbtack

U.S. consumer spending accounts for about 68 percent of gross domestic product (GDP). As goes the consumer, so goes the economy. This month, AIER looks at various aspects of Americans' economic behavior and factors that tend to drive spending such as attitudes, income and wealth. In particular, it highlights areas that may contribute to consumer sentiment since historically this has been a good indicator for future consumption.  Click here to read more.

For those who track trends, this is the most important time of the year. It's when we get a status update on the economic well-being of the nation's households. The Census Bureau releases the latest income data from the Current Population Survey. The Bureau of Labor Statistics releases the latest spending data from the Consumer Expenditure Survey. An added bonus this year is the Federal Reserve Board's release of findings from the triennial Survey of Consumer Finances. All three surveys tell the same story: the average American is still struggling to recover from the Great Recession. Median Household Income Has Stalled The $51,939 median household income of 2013 was not significantly different from the $51,758 of 2012, after adjusting for inflation. This is the second year in a row of no significant change in median household income, according to the Census Bureau , following two years of decline. Median household income in 2013 was 8.0 percent below the median o

The Data Analysis team within the Office of Trade and Economic Analysis (OTEA), as part of the International Trade Administration, seeks to provide a solid foundation of trade and industry data to support the development of national trade policies. The Office of Trade and Economic Analysis provides industry and policy decision makers with information on the impacts of economic and regulatory policies on U.S. manufacturing and services industries, as well as provides a solid foundation of trade and industry data to support the development of national trade policies. OTEA performs in-depth industry analysis on the effects of both domestic and foreign policy developments on U.S. business competitiveness. Our core projects are benchmarking the environment facing U.S. industry, analyzing regulatory reform outcomes, issuing antitrust exemption certificates for export trading company mergers, and assessing foreign investments in the United States. OTEA publishes research papers that an

D&B delivers a monthly perspective on U.S. small business health, jobs growth and overall business growth. Read the U.S. Economic Health Tracker , and peruse the archive for previous reports and visit related videos and webinars for the latest trends. New updates are published the Tuesday prior to the first Friday of each month.

Everyone deserves the opportunity to have an occupation that provides a decent standard of living. Increasingly, earning a middle class income requires that workers have a post-secondary credential and regularly upgrade their skills. The recession accelerated this occupational transformation.  For the nation’s economic well-being, workers and their communities need to adjust to the new realities of the labor market. However, evidence suggests a growing mismatch between worker capabilities and employer needs. Left unchecked, this gap will impair the economic health of the nation and its workforce. To address this issue, U.S. labor markets require access to current, accurate, detailed statistics. Labor market participants—individuals, educators, and employers—and policymakers at all levels of government need good data to make informed choices about, for example, career paths, training programs, hiring, and public investments. At present, however, labor market participants and policy

Source: Organisation for Economic Co-operation and Development : After five years of crisis, the global economy is weakening again. In this we are not facing a new pattern. Over the recent past, signs of emergence from the crisis have more than once given way to a renewed slowdown or even a double-dip recession in some countries . The risk of a new major contraction cannot be ruled out. A recession is ongoing in the euro area. The US economy is growing but performance remains below what was expected earlier this year. A slowdown has surfaced in many emerging market economies, partly reflecting the impact of the recession in Europe. The weaker outlook has several causes. A significant drop in confidence is a key driver. This takes place against a background of deleveraging, simultaneous fiscal consolidation across countries and a large multiplier, and weakening global trade. High and, in some countries, rising unemployment is further depressing confidence and spending.

IRE and the Sunlight Foundation launched EconoCheck , a resource for journalists who want to fact-check the economic claims made by politicians. This will make it easier for folks to understand key economic indicators and how they are created. Also, there are links to the source data so journalists can download the files themselves. Bill Allison, Sunlight’s editorial director, blogged about how journalists can use the data to report on the things politicians say about the economy .

The Small Business Quarterly Bulletin from Advocacy's Office of Economic Research is a brochure-style publication that contains commentary and analysis on the current employment and financing trends of small businesses. From the current issue: "While small firms with 20-499 employees provided three-quarters of the net employment growth since the end of the downturn, more recently, even the very small firms (fewer than 20 employees) and large firms (500 or more employees) showed solid net increases (Chart 4). Increases were driven by existing firms, as birth and death employment essentially netted each other out leaving little to no impact on the overall employment level. The decline in employment from births over the last decade has been accompanied by a corresponding decline in employment from deaths."

The Small Business Authority, announced today the next live radio broadcast focusing on job outlook, economic trends related to hiring and employment trends with recent graduates. The show will broadcast from "The Small Business Authority Studio" at 77WABC Radio in New York. National listeners can also tune in at www.wabcradio.com and click listen live. The program, The Small Business Authority Hour, will be broadcast on Saturday, May 5, 2012 at 4:00 p.m. EDT. The show, dedicated to independent business owners across the United States, will feature guest Maury Harris, Managing Director and Chief Economist for the Americas for the UBS investment bank. Maury has been named numerous times to the Institutional Investor (II) All-America Research Team over the past two decades. In the January 2012 edition of Bloomberg Markets magazine, Dr. Harris and his team were cited as having the most accurate week ahead forecasts of U.S. economic data among 78 US forecasters over the two yea