Entrepreurship boom leaves out low-income New Yorkers: report

 

Many tech businesses have launched near the Flatiron building, but in other parts of the city, entrepreneurship is not booming. (Facebook)
Many tech businesses have launched near the Flatiron building, but in other parts of the city, entrepreneurship is not booming. (Facebook)

New York might be wooing tech entrepreneurs, but few of the entrepreneurs starting businesses in New York are low-income residents.

According to a new study released today by the Center for an Urban Future, few low-income, non-immigrant New Yorkers are becoming entrepreneurs, even as New York business booms in places like “Silicon Alley.”

The self-employment rates are lowest in poor neighborhoods with a lot of native-born residents.

The 18 neighborhoods with the lowest rates have a median income of $25,150, according to the report. These areas include East New York and Brownsville in Brooklyn and Throgs Neck in the Bronx.

And the number of entrepreneurs in Manhattan is close to the total in all the other four boroughs – in Manhattan, 97,000 native-born people are self-employed, but in the other four boroughs combined about 124,000 are entrepreneurs.

The report notes that even though low-income residents are not starting formal businesses, “There is no lack of entrepreneurial spirit or creativity among the native-born poor.”

Many start informal jobs like selling cakes out of kitchens, cutting hair in an apartment or hosting a day care.

“People are always looking for a side-hustle because people need to patch income,” said Catherine Barnett, executive director of Project Enterprise, a group that helps small businesses. “That’s the reality. That’s not going away anytime soon.”

If they had more support, they might be able to formalize these businesses, the report suggests.

“There is an opportunity to do something in the Harlems and the Bed-Stuys and those other communities,” added Sheena Wright, the CEO of United Way of New York City.



News
Entertainment
Sports
Lifestyle
Local

MTA announces service changes for Sunday

The MTA has announced service changes ahead of Sunday's People's Climate March, which will be held from 11:30 a.m. to 4:30 p.m. Sunday. Riders using…

Local

NYPD launches Twitter account for L train

The NYPD recently launched a Twitter handle dedicated to the L train and its riders. According to @NYPDLtrain, officers went underground Thursday morning to hand…

Local

Bushwick community space offers activists a place to…

A new Bushwick community space offers community activists to meet, create, learn and throw back a few cold ones. MayDay, located 214 Starr Street in Bushwick,…

Local

Activists gearing up for Sunday's "historic" People's Climate…

If all goes according to plan, more than 100,000 people will gather near Central Park West on Sunday morning and march through midtown to raise…

Arts

EXCLUSIVE: Backstage with Adam Jacobs at 'Aladdin' on…

Metro shadowed Adam Jacobs backstage at "Aladdin" on Broadway.

Movies

Review: Terry Gilliam's 'The Zero Theorem' is better…

Terry Gilliam's latest, "The Zero Theorem," concerns a reclusive malcontent (Christoph Waltz) struggling with the search for the meaning of life.

Music

Esperanza Spalding and a being called Emily get…

Esperanza Spalding is about to spiral off in a brand new direction that may or may include an alter ego named Emily.

Movies

Review: Bickering family dramedy 'This is Where I…

A talented cast sits Shiva in the bickering family dramedy "This is Where I Leave You," although it's more sap than yuks.

NFL

J.J. Watt poses unique challenges to struggling Giants…

Watt, arguably the best defensive player in the league, is the leader of a surprising Texans (2-0) team that has already matched last season’s win total.

NFL

Eric Decker 'unlikely to play' against Bears: Source

Jets wide receiver Eric Decker's status for Monday night’s game against the Bears is in doubt after he missed practice again Wednesday.

NFL

Preston Parker, not Odell Beckham, will replace Jerrel…

Tom Coughlin noted the next man up will be unheralded veteran Preston Parker.

NFL

NFL Week 3 full schedule (kickoff time, TV)

NFL Week 3 full schedule (kickoff time, TV)

Parenting

A sneaky way to serve kids fruits and…

"My First Juices and Smoothies" gives smoothie recipes for kids.

Style

3 things we love from Day 1 of…

The highlights from Day 1 of Milan Fashion Week.

Sex

Why don't more couples use condoms?

  Call it the “condom moment.” That’s the name the authors of a new study have given to the pivotal conversation every couple should be…

Sex

Need an idea for a first date? Here's…

Picture your idea of a nice first date. Is it dinner and a movie? A visit to an interesting museum exhibit? Instead, an expert on…