Considered by many as “The City that Never Sleeps”, New York City is one of the world’s financial and entertainment hubs. It is home to the largest global companies, financial institutions, and media outlets and stations. This megacity offers countless opportunities to any entrepreneur, whether you are into consulting, retail, entertainment, real estate, or any other sector. Our team at Black Sheep Business Consulting will assist you in preparing a winning business plan to impress investors, lenders, and business partners. This will be your launchpad to starting a new business here in New York.

Consulting

Management consulting is one of the top contributors to New York’s economy, as it is projected to bring in $87 million annually by 2025. The fast pace of digital transformation is now creating more opportunities for the consulting industry, allowing businesses to flourish. The presence of almost all major companies in New York makes it an attractive market for consulting firms. Among the key players in this space are Deloitte, McKinsey & Company, Boston Consulting Group, and PwC. The growth of this industry could be advantageous to you, especially if you want to set up a consulting firm here.

Retail

New York City and its surrounding areas benefit from over 65 million annual tourists, which generate nearly 350,000 jobs and $55 billion revenue for the retail industry. Whether it is premier department stores or world-famous restaurants and hypermarkets, New York has it all. From Fifth Avenue and Orchard Street in Manhattan to iconic shopping corridors like Arthur Avenue, retail has defined the city’s streetscape for generations and provided a livelihood for many people. Companies and startups working in retail, sales, manufacturing, product development, logistics and ecommerce will find success here in New York.

Film Development

New York’s film industry is divided into seven sectors, namely motion picture and video production, talent, subscription programming, television broadcasting, media buying, post production, and distribution and consumption. These sectors combined have an economic impact of over 100,000 generated jobs, over $10 Billion in wages, and around $60 Billion in total economic contribution. Companies in this space, including the American Media Company, are mainly located in Broadway, Manhattan and Brooklyn. Alongside film, TV production is also thriving in the area. With these developments, New York offers numerous opportunities to film entrepreneurs and professionals.

Real Estate

Real estate is a major contributor to New York’s economy, with over $1 Trillion worth of real estate portfolio across the city. It is home to some of the world’s most valuable real estate, including Time Warner Center and 450 Park Avenue, recently valued at over $500 million each. Meanwhile, Fifth Avenue commands the highest retail rents in the world, while Manhattan remains a highly-sought after address, with studio lease starting at $3,145 per month. The leading companies in the city are The Corcoran Group, Keller Williams and Douglas Elliman. Nearby areas are also thriving, particularly Brooklyn. Real estate entrepreneurs, whether in residential or commercial, can make it big here in the “Big Apple”.