New York small business statistics
New York logged 301,047 business applications in 2025, up 3.1% from 2024 and 31.7% from the pre-pandemic 2019 baseline. Professional services added the most private-sector establishments since 2019. Health care and social assistance added the most private-sector jobs.
Business applications, employment, lending, tax, bankruptcy, and contracting records cover different parts of New York's business economy.
At a glance
New York logged 301,047 business applications in 2025, up 3.1% from 2024 and 31.7% from the pre-pandemic 2019 baseline.
Through May 2026, total applications were up 8.2% from the same months in 2025; high-propensity applications fell 3.8%.
New York County filed 54,695 applications in 2025, the largest county total in the state. Albany led the high-volume counties after adjusting for population.
Professional services added the most private-sector establishments since 2019. Health care and social assistance added the most private-sector jobs.
SBA 7(a) and 504 approvals to New York businesses reached $2.1B in FY2025 across 5,518 loans, led by retail trade, accommodation and food services, construction, wholesale trade, and professional services.
Business bankruptcy cases tied to New York counties rose from 2,124 to 2,192 in the 12-month period ending March 31, 2026.
New business formation
New York business applications reached 301,047 in 2025, up 3.1% from 2024. Through May 2026, applications were 8.2% higher than in the same months of 2025.
Why compare with 2019
2019 is the last full year before the pandemic. The shutdown period and the business churn that followed changed EIN filing patterns. High-propensity applications totaled 52,045 through May 2026, down 3.8% from Jan-May 2025. Projected business formations within eight quarters rose 10.1% over the same period.
Census BFS counts applications for employer identification numbers. Applications are early filings; confirmed operating-business counts arrive later.
Where applications are concentrated
New York County is the largest application market by raw volume. Among the high-volume counties shown below, Albany stands out most after adjusting for population.
Applications relative to population
Each rate divides 2025 Census BFS applications by the county’s Census Vintage 2025 resident population estimate. New York County still has the most total filings, while Albany has the highest application volume relative to resident population among these high-volume counties.
Census BFS counts EIN applications. The denominator is 2025 resident population, which adjusts the filing count for scale. Startup conversion requires a business-based denominator.
| County | 2025 applications | Change vs 2024 | Change vs 2019 |
|---|---|---|---|
| New York | 54,695 | +5.2% | +17.6% |
| Kings | 48,687 | -0.3% | +24.6% |
| Queens | 34,304 | -3.1% | +22.9% |
| Nassau | 24,390 | +1.1% | +24.3% |
| Suffolk | 21,701 | +6.7% | +32.3% |
| Bronx | 15,247 | -1.9% | +31.1% |
| Westchester | 14,407 | +2.3% | +20.8% |
| Albany | 12,859 | +27.8% | +235.6% |
| Erie | 8,846 | +7.1% | +39.7% |
| Monroe | 7,603 | +3.5% | +40.8% |
| Rockland | 7,090 | +2.1% | +50.7% |
| Richmond | 6,206 | +4.0% | +38.9% |
Jobs, establishments, and wages
In 2024, New York had 691,628 private-sector establishments and 8,303,012 private-sector jobs. The establishment count was 10.3% higher than in 2019, and employment was 2.2% higher.
Professional services led establishment growth.
Professional services added 15,625 establishments from 2019 to 2024. Health care and social assistance added 195,966 jobs over the same period.
BLS QCEW counts employer establishments and jobs, along with wages, payroll, and local industry structure.
| Industry | 2024 establishments | Change vs 2019 | 2024 jobs | Change vs 2019 |
|---|---|---|---|---|
| Professional services | 86,857 | +15,625 (+21.9%) | 719,071 | +33,810 (+4.9%) |
| Other services | 68,310 | -4,120 (-5.7%) | 347,485 | -23,733 (-6.4%) |
| Health care and social assistance | 60,750 | +3,045 (+5.3%) | 1,818,891 | +195,966 (+12.1%) |
| Accommodation and food services | 54,474 | +1,475 (+2.8%) | 751,254 | -27,939 (-3.6%) |
| Construction | 52,642 | +2,210 (+4.4%) | 388,163 | -17,487 (-4.3%) |
| Administrative services | 37,957 | +237 (+0.6%) | 524,141 | -14,182 (-2.6%) |
| Real estate and rental | 36,565 | +1,528 (+4.4%) | 199,540 | -2,675 (-1.3%) |
| Wholesale trade | 32,433 | -1,723 (-5.0%) | 309,344 | -16,625 (-5.1%) |
| Finance and insurance | 29,548 | +1,275 (+4.5%) | 532,752 | +14,149 (+2.7%) |
| Information | 18,295 | +5,483 (+42.8%) | 279,451 | +2,043 (+0.7%) |
SBA lending
SBA 7(a) and 504 approvals to New York businesses totaled $2.1B in FY2025 across 5,518 loans. The SBA files report 43,895 jobs supported for those approvals.
Retail trade drew the most SBA capital.
Retail trade drew $309.9M in FY2025 SBA approvals. Accommodation and food services, Construction, Wholesale trade, and Professional services received the next-largest approval totals.
SBA fiscal year 2025 ran from Oct. 1, 2024, through Sept. 30, 2025. The published files were current as of April 28, 2026.
| Sector | FY2025 loans | FY2025 approvals | SBA jobs supported |
|---|---|---|---|
| Retail trade | 755 | $309.9M | 4,850 |
| Accommodation and food services | 634 | $261.0M | 8,456 |
| Construction | 755 | $254.3M | 4,844 |
| Wholesale trade | 366 | $225.6M | 2,542 |
| Professional services | 703 | $218.2M | 5,081 |
| Health care and social assistance | 400 | $165.6M | 4,063 |
| Manufacturing | 296 | $161.4M | 2,533 |
| Other services | 510 | $158.8M | 3,318 |
| Administrative services | 319 | $80.2M | 2,912 |
| Arts and entertainment | 197 | $78.8M | 2,107 |
| County | FY2025 loans | FY2025 approvals | SBA jobs supported |
|---|---|---|---|
| Kings | 766 | $303.2M | 5,648 |
| Suffolk | 549 | $258.1M | 4,849 |
| New York | 603 | $220.8M | 6,064 |
| Nassau | 480 | $207.2M | 3,954 |
| Queens | 465 | $182.1M | 3,492 |
| Rockland | 285 | $106.5M | 1,547 |
| Orange | 218 | $104.3M | 1,329 |
| Westchester | 281 | $101.6M | 2,604 |
| Erie | 299 | $91.4M | 2,662 |
| Monroe | 255 | $60.3M | 1,945 |
The unincorporated business economy
IRS SOI data show 1,845,965 New York Schedules C and partnership returns/forms in Tax Year 2023. Those businesses reported $510.2B in gross receipts and $30.4B in the combined income/profit measure.
Sole proprietors account for most returns.
New York had 1,518,421 nonfarm sole-proprietor Schedules C in Tax Year 2023, with $98.2B in gross receipts and $26.9B in net profit.
Partnerships reported more gross receipts.
New York partnerships filed 327,544 Forms 1065 in Tax Year 2023 and reported $411.9B in gross receipts.
| County | Returns/forms | Gross receipts | Combined income/profit metric |
|---|---|---|---|
| Kings | 279,514 | $40.5B | $2.6B |
| New York | 251,548 | $218.3B | -$226.5M |
| Queens | 236,065 | $27.0B | $2.1B |
| Nassau | 155,592 | $44.7B | $3.9B |
| Suffolk | 136,693 | $32.8B | $4.1B |
| Bronx | 114,341 | $10.6B | $1.3B |
| Westchester | 110,246 | $30.7B | $4.5B |
| Erie | 61,256 | $19.3B | $2.1B |
| Monroe | 54,762 | $9.5B | $1.2B |
| Richmond | 37,940 | $5.1B | $555.7M |
Business stress signals
Business bankruptcy cases tied to New York counties rose from 2,124 to 2,192 in the 12 months ending March 31, 2026. Chapter 11 accounted for 1,068 cases.
Why county totals can jump
New York had the largest business-bankruptcy count in the latest F-5A table. Related business cases filed in the same venue can create a sudden change in one county’s total.
Definition: U.S. Courts classifies debt as business when the debtor is a corporation or partnership, or when business-related debt predominates.
| County | Business cases, 12 months ending Mar. 31, 2026 | Change vs prior 12 months | Chapter 11 cases | All bankruptcy cases |
|---|---|---|---|---|
| New York | 494 | +106 | 342 | 1,502 |
| Kings | 456 | +8 | 236 | 2,748 |
| Queens | 252 | +29 | 118 | 2,730 |
| Nassau | 226 | -75 | 103 | 1,938 |
| Suffolk | 188 | -23 | 66 | 3,067 |
| Rockland | 108 | +30 | 44 | 431 |
| Westchester | 78 | -28 | 31 | 919 |
| Bronx | 63 | +22 | 27 | 1,731 |
| Erie | 38 | -9 | 10 | 980 |
| Monroe | 31 | +1 | 7 | 607 |
National credit backdrop
The 2026 Fed Small Business Credit Survey appendix reported that 94% of U.S. employer firms faced a financial challenge in 2025, 38% applied for financing, and 52% of applicants were fully approved.
Federal contract demand
USAspending reports $14.2B in FY2025 federal procurement obligations to recipients located in New York. USAspending assigns these obligations to the recipient’s state and includes award type codes A, B, C, and D.
| NAICS | Federal procurement category | FY2025 obligations |
|---|---|---|
| 336413 | Other Aircraft Parts and Auxiliary Equipment Manufacturing | $1.3B |
| 334511 | Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing | $1.2B |
| 334220 | Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing | $905.7M |
| 541712 | Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology) | $832.8M |
| 541330 | Engineering Services | $764.4M |
| 481211 | Nonscheduled Chartered Passenger Air Transportation | $757.3M |
| 334290 | Other Communications Equipment Manufacturing | $754.9M |
| 541715 | Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology) | $658.2M |
| 541614 | Process, Physical Distribution, and Logistics Consulting Services | $444.3M |
| 541511 | Custom Computer Programming Services | $437.7M |
How the numbers fit together
New York's business applications rose 3.1% in 2025. The employer base has expanded since 2019, with establishments up 10.3% and employment up 2.2%.
Sources and definitions
Each dataset updates on its own schedule. Annual figures use the latest complete year, and partial-year comparisons are labeled beside the relevant number.
- Census BFS monthly CSV
Updated June 10, 2026, 14:00 GMT - Census BFS county workbook
Updated June 10, 2026, 14:22 GMT - Census county population estimates
Vintage 2025 county resident population estimates - BLS QCEW annual area files
2019 and 2024 annual API files - SBA 7(a)/504 FOIA package
Updated April 28, 2026, 14:42 GMT - IRS SOI Tax Year 2023 unincorporated tables
Tax Year 2023 county combined, sole proprietor state, and partnership state tables - U.S. Courts F-5A bankruptcy XLSX
12 months ending March 31, 2026 - Fed SBCS Main Street Metrics appendix
Last updated March 23, 2026 - USAspending API
FY2025 procurement obligations
Alex Morgan turns Census, BLS, SBA, IRS, court, Federal Reserve, and USAspending records into state-by-state business comparisons.