State Small Business Centers Report Surge in Local Investment and Job Creation

New York’s Small Business Development Centers (SBDC) played a significant role in the city’s economic landscape throughout 2025, according to an annual impact report released by Governor Kathy Hochul. The network, which provides entrepreneurs with free or low-cost guidance on business planning, financial management, and regulatory compliance, supported more than 4,800 clients across the five boroughs last year.

Data from the report indicates that these efforts contributed to the launch of over 330 new businesses and generated nearly $41 million in local investment. Beyond startup support, the centers were credited with helping to create or maintain more than 9,300 jobs citywide. Staten Island led the city in both capital investment and job retention, followed by Brooklyn and Queens.

State SBDC Director Sonya Smith noted that the program’s long-term impact remains robust, citing an 80% five-year survival rate for businesses that utilize their services—a figure significantly higher than the national average. Smith suggested that for every dollar invested in the SBDC, the program yields four dollars in measurable economic return.

Local success stories highlighted in the report include Brooklyn-based businesses like Bush Box LLC, which secured a six-figure loan to expand its operations, and the candle retailer Nose Best, which leveraged SBDC mentorship to transition from a home-based hobby to a brick-and-mortar storefront.

Funded by the U.S. Small Business Administration and administered through the State University of New York (SUNY), the SBDC operates out of various college campuses and satellite offices. Looking ahead, the network is set to expand its footprint in New York City. CUNY Chancellor Félix Matos Rodríguez confirmed that a new center will be established at the City College of New York, aimed at bolstering resources for entrepreneurs in Upper Manhattan.

Prospective business owners can access these services by booking appointments online, where they are matched with advisors for personalized support. The program offers a range of resources, including webinars, workshops, and one-on-one consultations regarding marketing and financial strategy.