When buying a business in New York, we recommend a more nuanced approach that contemplates matters beyond mere cost-benefit analysis. Small businesses are the engine of the American economy. According to a 2012 Small Business Administration report, small businesses “produced 46 percent of the private non-farm GDP in 2008 (the most recent year for which the source is available), compared with 48 percent in 2002.” New York is one of the best places to establish a business in many industries, because of its educated labor force, high net worth, and business infrastructure.
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