Governor Kathy Hochul encouraged New Yorkers to support local businesses during the holiday shopping season by highlighting the critical role New York's small businesses play in building vibrant communities across the state. On November 29, New York will mark Small Business Saturday to celebrate the significant impact small businesses have on local economies across the state. In honor of the day, Governor Hochul is taking the opportunity to emphasize how choosing local retailers, restaurants and service providers creates a ripple effect of economic growth throughout New York's communities.
“Every time we choose a local shop, restaurant, or service provider, we’re investing in our neighbors and our neighborhoods,” Governor Hochul said. “As the daughter of a small business owner, I know the long hours, hard work, and heart that go into running a family business. Small Business Saturday is a reminder that our local enterprises aren’t just places to shop, they’re engines of opportunity and cornerstones of community. This holiday season, I encourage New Yorkers to shop small and help keep our main streets thriving.”
New York’s retail sector includes more than 70,000 stores, of which approximately 56,700 — 81 percent — are independently owned. Retailers are a critical engine of economic activity: 7.35 percent of all New York small businesses are retailers, the sector generated $507 billion in sales in 2024, and retail stores collected $20.3 billion in state sales tax. Retail workers across the state earn an average of $971 per week, underscoring the industry’s essential role in supporting jobs, household income, and local economic growth.
Under Governor Hochul’s leadership, New York State has expanded access to capital, technical assistance, and training to help entrepreneurs launch, grow, and strengthen their businesses. Empire State Development offers a suite of programs tailored to meet the needs of startups, early-stage ventures, and established small businesses across every region of the state, including:
- Main Street Capital Loan Fund: Provides loans of up to $100,000 to startups and early-stage businesses, with a focus on communities that have historically lacked access to affordable credit. Loans may be used for working capital, equipment, essential assets, and hiring. To lower early startup costs, borrowers make interest-only payments during the first year. Learn more: https://esd.ny.gov/main-street-capital-loan-fund
- Small Business Technical Assistance: A statewide program offering free expert legal, accounting, and financial services to help small businesses and startups navigate funding requirements and improve access to capital. Learn more: https://esd.ny.gov/ssbci-technical-assistance-program
- Entrepreneurship Assistance Centers: A network of 26 centers providing training, technical assistance, and business development support to new and early-stage entrepreneurs. Learn more: https://esd.ny.gov/entrepreneurship-assistance-centers-program
- Low Interest Capital Program (LINC): Formerly the Linked Deposit Program, LINC was expanded by Governor Hochul to increase total loan capacity from $560 million to $1.1 billion. The program helps small businesses secure financing at more affordable interest rates, supporting approximately 6,000 businesses, enabling $2 billion in lending, and leveraging over $4 billion in new capital investments. Learn more: https://esd.ny.gov/linked-deposit-program
The New York State Department of Labor offers a number of no-cost services for businesses of all sizes. Businesses have access to nearly 190,000 job postings and tens of thousands of qualified candidates in our talent pool on our website. NYSDOL also provides career fairs, customized recruitments, and human resources consultation services. Each year, more than 25,000 businesses partner with NYSDOL to list open positions, find candidates, access hiring and training incentives, obtain business tax credits, and get expert help with labor law, workplace health and safety, and layoff resources. For more information, visit: dol.ny.gov/services-businesses.
The New York State Department of Agriculture and Markets supports New York's nearly 32,000 farms, 700 farmers' markets and farm stands, and thousands of small agribusinesses through a variety of initiatives that aim to enhance their business and increase productivity, profitability, and competitiveness. It also provides direct promotional opportunities through initiatives like the NYS Grown & Certified program and the Taste NY program. New Yorkers and visitors alike can support New York farmers and food and beverage businesses by shopping for the holidays at any one of the more than 70 Taste NY locations across the State, including Taste NY Markets at the State's Welcome Centers. The markets are stocked with local products made and produced by New York farms and food and beverage producers unique to the State’s 10 regions. From local, gourmet food items and locally produced craft beverages to novelty items and even bath and beauty products, gifts at stores range in size and price and can be customized. Visit taste.ny.gov to find your local Welcome Center and Taste NY Market.
Taste NY’s online marketplace, ShopTasteNY.com, operated by Cornell Cooperative Extension Sullivan County, also offers opportunities to shop for New York agricultural products and gifts from the comfort of home. ShopTasteNY.com offers a variety of products from across New York, from honey and jams to hand crafted creations, reflecting each region’s unique offerings. Shoppers can get 30 percent off on their order during Small Business Saturday.
Ways To Support Small Businesses Every Day
- Shop Local: Visit independently owned retailers and service providers in your community.
- Buy Gift Cards: Support local businesses with upfront sales that encourage future visits.
- Explore Farmers’ Markets: Find unique, locally made gifts and seasonal foods.
- Shop Taste NY: Discover the best of New York’s farms and artisans at Taste NY locations or online at Taste.NY.gov.
- Dine Locally: Enjoy meals at neighborhood restaurants and cafés.
- Spread the Word: Share your experiences on social media and review sites.
- Choose Store Credit: When returning items, opt for store credit to keep money circulating locally.
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