Double the size of the DSBS budget
If elected, I will fight to ensure small businesses get the support they need starting by giving our Department of Small Business Services teeth. The budget for the DSBS is one of the least funded agencies in the entire city. It receives on average less than $300 million dollars a year and is responsible for “unlocking economic potential, creating economic security for ALL New Yorkers by connecting New Yorkers to good jobs, creating stronger businesses, and building thriving neighborhoods across the five boroughs”. The Department does not have the funding necessary to do anywhere near what its mission statement proclaims to do. The city needs to support its small businesses now more than ever and by expanding this department’s scope we can truly begin to provide that relief.
Small Business Grants
There is no economic recovery for NYC without its small businesses. The federal government has singularly failed to support small businesses through the botched Small Business Loan Programs. City Hall must step up with a much more robust response.
I support significantly expanding existing and new small business grant programs through the NYC Department of Small Business Services. As an example, the NYC Love Your Local grant program gave out a total of 40 small businesses $90k each or $3.6 million.
I support increasing the funding for such a program 100x. $360 million dollars for 4,000 small businesses only amounts to less than 1% of the city expense budget. Doing more for our small businesses is not only possible, it is necessary and urgent.
Create an Office of Small Business Liaisons
The city must create an office of Small Business Liaisons because the city cannot afford to keep our small businesses in the dark. Any and every penalty or regulatory violation imposed, is desperately needed capital for our mom and pop shops. I want to model this office in part from the NYC Campaign Finance Board also known as the CFB. The CFB pairs every political candidate and organization with a liaison that guides them through any questions or concerns in the campaign process from start to finish.
I want to do the same for our small businesses. Each business would be assigned a liaison that shepherds them from violating obscure city regulations and answers any outstanding questions under the umbrella of the Department of Small Business Services. If elected I pledge to pursue the fruition of such an office to stand by our small businesses.