NEW YORK CITY-The Big Apple may be home to many large corporations but it is increasingly the place in which entrepreneurs are making a mark, according to a new report from the Center for an Urban Future. And not only are many more businesses starting than the number of businesses that were launched 20 years ago, Manhattan is no longer the only borough where every business wants to be, the report says.
“Nearly twice as many new businesses were incorporated in the city in 2011 than in 1991,” says an announcement of the report. Also surprising: the fastest growth in startups was seen not in Manhattan but in the outer boroughs, the announcement says.
“We're in a new entrepreneurial age in New York,” declares Jonathan Bowles, executive director, Center for an Urban Future, to GlobeSt.com. “It's much more a part of the city's DNA than it was 15 or 20 years ago.” By comparison, , in 1991, 35,218 new businesses filed incorporation papers in the city, according to the report. By 2011, that number increased to 65,658, an 86% rise.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
