Empire State officials are adding new ways to support New York businesses negatively impacted by the pandemic and inflation.
Many small and medium-sized businesses believed New York had suffered from the long-term effects of the pandemic, the effect of inflation on people’s ability to spend, and a labor shortage. For these reasons, as well as other factors, New York State is looking to do something that could help improve the bottom line for many entrepreneurs and businesses.
Empire State Development created the New York State Seed Funding Grant Program to help small businesses succeed while the New York State economy is in recovery mode.
The program can provide additional funding to various types of businesses, including micro-enterprises, small businesses, or for-profit arts and culture organizations, if they qualify.
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Businesses may be eligible for grants totaling up to $25,000.
Development of the New York State empire
According to the Empire State Development website, to be eligible for a grant, businesses must meet the following requirements:
- Be incorporated, licensed, or registered in New York State, and the business owner must also be a New York resident.
- Businesses must be considered viable and operational for at least 6 months before submitting an application.
- Businesses must also have followed all laws, rules and codes that apply to them.
- and, Company may not be liable for any federal, state, or local taxes or fees.
Other Small Business Resources
This new grant program is just one of many other small business resources available in New York. You can learn more about these resources here.
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