Swaths of New York City small businesses face extinction in the wake of coronavirus

United States News News

Swaths of New York City small businesses face extinction in the wake of coronavirus
United States Latest News,United States Headlines
  • 📰 politico
  • ⏱ Reading Time:
  • 78 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 35%
  • Publisher: 59%

As New York City begins to emerge from the coronavirus shutdown, thousands of its small businesses — many already struggling before the pandemic hit — will face a near-impossible road to recovery

“It’s the kind of thing that rhetorically brings right and left together, but it hasn’t converted into effective political power or leverage.”

“While we continue to hope that much of that need be met by the federal government … hope isn’t a plan," said Council Member Daniel Dromm at the same hearing. Now, as the pandemic plunges many local stores into even worse straits, enacting a workable solution has only become more difficult. Even before the pandemic, small businesses were a fractured political bloc. Residential tenant groups organized for years around a series of changes to rent laws, enough to make their concerns a central issue in elections to the state Senate that turned the body from Republican to Democrat. Within months, the new tenant-friendly legislators overturned decades of laws that had favored landlords.

“Even though there’s a moratorium for eviction proceedings, the rent bill is really accumulating,” said Randy Peers, president and CEO of the Brooklyn Chamber of Commerce. “This is going to be the big challenge, because even if you open your doors in the next few weeks, that’s three months worth of rent, that in itself can put businesses out of business.”

Lander, whose Park Slope district is overflowing with indie coffee shops and artisanal boutiques, said the majority of small businesses he’s spoken to haven’t been able to strike deals with their landlords, leaving them vulnerable to permanent closure and potentially sparking a surge in commercial vacancies.

But there hasn’t been a groundswell of support behind any one proposal that would accomplish this, and different groups have been pushing different priorities.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

politico /  🏆 381. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The Housing Market Around New York City Is BoomingThe Housing Market Around New York City Is BoomingReal-estate agents say more home shoppers are looking to buy outside the city, often because they are concerned about a second wave of pandemic-related restrictions.
Read more »

Maskless woman coughs on customer in New York City bagel shopMaskless woman coughs on customer in New York City bagel shop'I was really scared. It started to make me paranoid because I was thinking, did she actually infect me?'
Read more »

New York City police disband rough street unit amid pressure for reformNew York City police disband rough street unit amid pressure for reformThe New York Police Department is disbanding its aggressive anti-crime unit, a move aimed at turning alienated residents into crime-stopping allies, part of a nationwide push for policing reforms following the killing of George Floyd.
Read more »

New York says it's 'tamed the beast' of coronavirus while some states see record hospitalizationsNew York says it's 'tamed the beast' of coronavirus while some states see record hospitalizationsMore than 115,000 people have died from Covid-19 in the United States, according to Johns Hopkins University. As of Saturday, coronavirus cases were still increasing in 18 states — several of which saw record or near-record highs.
Read more »



Render Time: 2025-03-01 23:23:46