Question

Starting a really small business in New York City?

I'd like to start a really small fishing reel repair business here in NYC. For example, I will be doing the repairs in my garage, I will order the parts as needed, I will probably put up a small sign in my front yard, put a small ad up with my number in tackle shops, and just keep it small.

What do I have to do to start something like that? NYC has some of strictest business laws and I don't know where to start! Are there even any laws concerning something this small? I'm not trying to start a big business or anything. It's just so local people who want their reel fixed for a good price can just drop it off and get it fixed. Again, it's something really small and I don't plan on making it any bigger. Any info would be great!

Mike

1 year ago - 4 answers

Best Answer

Chosen by Asker

Two things to check - need for a business license (probably need one). Second and most important, the need fora zoning variance. You may or may not need a variance depending upon what regulations the zoning commission has put in place (for example, if you pick up up the stuff to be repaired, you may not need a variance since only the work is being done on the premises which would not affect the neighborhood, versus having people drop off the stuff to be repaired, which would increase traffic in the neighborhood).

1 year ago

Other Answers

I was thinking of asking the same question but I want to open a pastry shop in NYC, sorry I don't have much info

by Khatereh - 1 year ago

You need a business license and a taxpayer ID number. You will need to collect sales taxes. You will need insurance. There is more, but that is enough to get you started.

Unless you will be making at least $15,000 annually, this would not be worth your time at all.

NYC has a whole department dedicated to helping small businesses:
www.nyc.gov/html/sbs/html/home/home...
You might want to try them for assistance.

by Casey Y - 1 year ago

The City of New York, Goldman Sachs, and the New York Bankers Association are providing $15 million in emergency loans to help New York City businesses damaged by Hurricane Sandy. NYC Business Solutions and the New York Business Development Corporation (NYBDC) will administer the loan program. If you are a small business in need of an emergency loan to recover from business interruption, you can now access loans of up to $25,000. Loans are interest-free for the first six months and 1% interest for the following 24 months. Businesses that are approved for a loan and have been displaced from their workplace for three weeks or more can also receive up to an additional $10,000 through the NYC Matching Grant.

Source(s)

by Shah - 1 year ago