Small businesses in New York are facing numerous challenges that threaten their survival. These include recruiting and retaining staff, high costs of salaries and benefits, and the impact of federal interest rates. Ashley Ranslow, the New York state director of the National Federation of Independent Business, recently discussed these struggles in an interview with Spectrum News 1.
Ranslow emphasized the importance of small businesses focusing on staff recruitment and retention, especially during a time when many are experiencing employee shortages. She also highlighted the need for businesses to address the increasing costs of salaries and benefits, as well as the impact of federal interest rates on their operations.
Despite these challenges, Ranslow shared that the National Federation of Independent Business has several priorities for the upcoming legislative session in New York. These priorities include addressing issues faced by small businesses and working to ensure their continued success in the state.
As July marks National Independent Retailer Month, it serves as a reminder of the importance of supporting local businesses and celebrating their unique contributions to our communities. By recognizing these challenges faced by small businesses and offering them necessary support, we can help them thrive and continue to serve the needs of New Yorkers.