Hochul stops in Troy for Small Business Saturday

Gov. Kathy Hochul toured Troy businesses in support of Small Business Saturday.

Hochul said in a statement that small businesses – those with fewer than 100 employees – represent 98% of the businesses in the state. They employ nearly 40% of the private sector workforce.

In addition, New York is home to more than 71,000 stores. Around 55,000 are independent local retailers, which contribute around $40 billion in wages in 2023 and are projected to provide over $20 billion in state sales tax revenue, according to Hochul’s office.

“After helping my mom start a small flower shop in our community, I’ve seen first-hand how challenging – and rewarding – owning a small business can be,” Hochul said in a statement.“ This holiday season, let’s make sure we’re supporting the locally-owned retailers who create jobs, grow our economy and give our neighborhoods their unique charm and character.”