Short-Term Small Business & Entrepreneurship
Expand agency programmatic focus on connecting underserved businesses to capital
Population focus: Underserved communities
Geographic focus: Underserved neighborhoods (unspecified)
Goal ID: SBS-G01
SBS · Agency plan
Department of Small Business Services
Preliminary REP pages 92-95
Plan area: Economy
3 Short-Term
3 Medium-Term
1 Long-Term
Mission & Commitment
SBS is committed to supporting equitable access to economic opportunity for all New Yorkers, with a focus on underserved communities. The agency provides workforce development, small business support, and contracting assistance to businesses and jobseekers across NYC.
Spotlight wins
In 2025, three out of every four M/WBEs awarded City contracts had first received procurement and capacity building assistance from SBS.Between January 2023 and January 2024, SBS and partners supported 1,046 businesses through the NYC Small Business Opportunity Fund, with loans totaling more than $85 million in affordable low-interest capital.Since 2023, SBS expanded services for people with disabilities and connected New Yorkers with disabilities to over 1,350 jobs.Since 2022, SBS and LinkNYC have provided eligible businesses with free marketing and promotion through the LinkLocal program.
Short-Term Goals
Short-Term Workforce Development & Employment
Expand the Jobs NYC initiative through a community-centered approach
Population focus: General
Outcome & strategies
Outcome:
- Expand the Jobs NYC initiative through a community-centered approach to connect disadvantaged jobseekers to quality employment
Goal ID: SBS-G02
Short-Term Workforce Diversity & Staff Training
Build an alternative recruitment pipeline for SBS talent
Population focus: General
Goal ID: SBS-G03
Medium-Term Goals
Medium-Term Small Business & Entrepreneurship
Expand access to financial assistance for underserved businesses to address historical disparities in financing and growth opportunities
Population focus: Underserved communities
Geographic focus: Underserved neighborhoods (unspecified)
Outcome & strategies
Outcome: By 2028, offer 4,000 financial consultations to underserved businesses.
- Conduct research to identify financial challenges among underserved businesses
- Expand notification of capital access opportunities, partnering with local CBOs and community development financial institutions
Goal ID: SBS-G04
Medium-Term Workforce Diversity & Staff Training
Connect individuals from economically disadvantaged communities facing high unemployment to quality workforce services via Jobs NYC initiative
Population focus: General
Outcome & strategies
Outcome: By 2028, register 5,000 jobseekers from disadvantaged communities into the Workforce 1 hiring system.
- Leverage hiring halls in disadvantaged communities to engage jobseekers
- Tailor engagement to meet the needs of individual communities to increase registration and connect individuals to jobs and trainings
Goal ID: SBS-G05
Medium-Term Small Business & Entrepreneurship
Address racial and gender wealth gaps/disparities and historical harm from cannabis prohibition through entrepreneurship
Population focus: General
Outcome & strategies
Outcome: By 2028, assist 1,000 new businesses in starting a cannabis business and in receiving paid industry employment, ensuring concerted efforts have been made to engage justice-involved individuals and those from underserved communities.
- Provide no-cost support for entrepreneurs and jobseekers looking to enter the cannabis market
- Equip entrepreneurs and jobseekers with the tools and education they require to succeed in the cannabis industry
- Leverage additional, non-cannabis specific programming for emerging small businesses
Goal ID: SBS-G06
Long-Term Goals
Long-Term Small Business & Entrepreneurship
Expand efforts to notify small businesses and M/WBEs about agency solicitations and contracts
Population focus: M/WBE owners
Outcome & strategies
Outcome: By 2034, achieve an increase in engagement with underutilized firms.
- Provide capacity-building services to M/WBEs and EBEs; as necessary, SBS will tailor programs and solutions based on the needs of such firms to small businesses
- Analyze the sectors where sizable procurements are anticipated
Goal ID: SBS-G07