New York’s Top Small Business Industries and the One Struggling Most

If you’ve been daydreaming about starting your own business in New York, you’re definitely not alone. The Empire State is buzzing with small business activity, and in some industries, things are really taking off.

Thanks to new data from the U.S. Small Business Administration, analyzed by Eton Venture Services, we’ve got a clear picture of which industries are on the rise and which ones are having a tougher time.

The Top Small Business Category in New York

At the very top is the Professional, Scientific, and Technical Services category. Sure, the name sounds like something straight out of a government form, but it covers a ton of highly skilled fields. Think legal work, accounting, architecture, engineering, graphic design, advertising, and even veterinary services.

In 2023 alone, there were 273,386 small businesses in this space across New York. If you’ve got specialized skills and the drive to go solo or launch a boutique firm, this is a great lane to explore.

Transportation and Warehousing Keep New York Moving

Rolling into second place is the Transportation and Warehousing industry, home to 248,731 small businesses. This includes everything from delivery services and trucking companies to passenger transport and warehouse operations. Basically, if you like the idea of keeping people and products on the move, this is a sector worth checking out.

Real Estate Is Still Hot Property in New York

In third place, with 190,336 small businesses, is Real Estate, Rental, and Leasing. This isn’t just about selling houses, it also includes property management, appraisals, and leasing commercial spaces. Given the constant demand for housing and workspaces, it’s no surprise this field continues to thrive.

Health Care and Social Assistance Stays Strong in New York

Fourth on the list is the Health Care and Social Assistance sector, home to 189,643 small businesses in 2023. From private medical practices and therapy offices to daycare centers and community support programs, this is a space where your work can make a real difference and still bring in steady business.

Construction Holds Its Ground in New York

Rounding out the top five is Construction, with 189,568 small businesses. This field covers everything from building homes and offices to roadwork and site preparation. Yes, it can be tough, physical work, but the payoff for small business owners in this industry is clear.

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New York Struggles in Hospitality and Food

Not every industry is having the same level of success. The toughest spot right now? Accommodation and Food Services. Despite New York’s love for dining out and travel, only 77,046 small businesses in this sector were active in 2023.

Rising costs, staffing challenges, and shifting customer habits have made it harder for restaurants and hotels to thrive the way they once did.