If you were to step onto a crowded Manhattan sidewalk, your ears would likely be overwhelmed with the “vrooms” of yellow taxis, the honks of bumper-to-bumper traffic, and the squawks of pigeons fighting over hotdog crumbs. But if you were to lean in and listen closer, beneath the blatant noise of the city, you would also hear the thrum of ambition that courses through New York City streets. Not only can you hear it, you can see it all around you. Look at the pedestrians beside you: they don’t just walk, they stride with purpose, their eyes lit with determination. New York City’s goal-driven atmosphere is contagious, to say the least. The people you pass make you want to walk faster, and they make you want to work harder. This is exactly why New York City is a hub for creation and innovation, with people constantly uprooting their lives elsewhere in order to create a successful business in the city. New York City provides the perfect opportunity for new enterprises to thrive.
The effects of the opportune commercial circumstances in New York City are observable. In 2024, it was found that nearly one in every three small businesses in New York City was created in the past two years. New York City now has over 183,000 small businesses operating, a height that has never been reached before.
In general, the majority of businesses are started by older, more experienced individuals. In the United States, 51% of business owners are above the age of 50. This trend is undoubtedly present in New York City, a city with a steep cost of living that older residents are more well-equipped to deal with. However, a significant number of younger entrepreneurs have emerged recently. According to Robert Piercey, the regional director of the Network for Teaching Entrepreneurship, NFTE now works with over 30 states domestically and in over 20 countries around the world, representing a 20% growth rate since 2018. Founded in 1987, this organization was originally created to reduce dropout rates from high schools in the Bronx. Now, it has grown into a meaningful experience for high school students to turn passion into tangible change. Evidently, entrepreneurship among young people, especially students, has steadily increased in the last few years, not just in New York City, but across the globe.
With a new generation of entrepreneurs taking the reins, new methods of running a business have surfaced. Younger business owners are reshaping the traditional definition of success with their priorities lying in flexibility, innovation, and adaptability. Many of these entrepreneurs rely heavily on digital platforms, using social media as a key marketing tool. Instagram pages, TikTok videos, and online marketplaces have become just as vital as physical locations, allowing businesses to reach customers from every corner of the city with little to no expenses.
Recently, lil sweet treat, a new candy store specializing in international sweets, experienced an explosive success across New York City and beyond. On their very first day of opening in September of 2024, hundreds lined up down the blocks of the West Village to pick and mix through lil sweet treat’s selection of foreign delights. After just a little more than a year since this day, they have opened three more stores in the city and three other locations across the East Coast.
With seven stores opening up in such a short period of time, lil sweet treat’s instantaneous growth is practically unheard of. The enormous success behind this emerging chain candy store can be almost entirely attributed to Elly Ross, their young founder. From the very beginning, Ross has played an instrumental role in lil sweet treat’s immense popularity. Starting with a series called “Day in the Life Opening a Candy Shop in NYC,” Elly Ross used short-form videos on social media to provide viewers with behind-the-scenes footage of what her daily routine looked like as someone actively building a business in New York City. This series truly started it all, capturing the attention and interest of her customer base. Even after opening several stores, Ross has continued to post consistently and listen to her viewers’ input, making her fanbase feel like they are riding shotgun on lil sweet treat’s journey. Elly Ross’ marketing strategy is a key example of a young entrepreneur bringing fresh, yet successful ideas to the table.
Nowadays, younger entrepreneurs emphasize social responsibility. Many new businesses in New York City are focusing on sustainability and inclusivity, reflecting the priorities of a generation more conscious of its impact on the world. In a city as diverse as New York, businesses that reflect the values and identities of their communities are more likely to resonate with consumers. Take Realer Estate, for example, an online portal created by 17 year olds Beckett Zahedi and Derrick Webster Jr; it uses public data and real estate listings to find affordable housing across the city.
There is a defining trait of this new wave of entrepreneurs: an eager willingness to take risks and embrace change. Unlike traditional business models that play it safe in order to guarantee stability, many younger business owners are open to experimentation, frequently adapting their strategies in response to trends and customer feedback. Pop-up shops, collaborative workspaces, and limited-time product launches have become increasingly common throughout the city. The city’s dense population and cultural diversity create a built-in consumer base eager for new ideas and products.
Beyond individual ambition, New York City itself plays a crucial role in nurturing entrepreneurship. The city offers an extensive network of resources designed to support new business owners, including incubators, accelerators, and co-working spaces that foster collaboration and mentorship. Government-backed programs, grants, and small business initiatives provide guidance and financial assistance to entrepreneurs navigating the complexities of launching a company in such a competitive market. Robert Piercey states that “more high schools are offering business programs” leading to “an increase in the amount of incubators and fellowships that engaged young people can pursue,” demonstrating the growing presence of entrepreneurship in young people’s lives and education. Entrepreneurs in New York City are constantly surrounded by other driven individuals, making it easier to form partnerships, exchange ideas, and learn from shared experiences.
New York City, along with the people in it, make noticeable efforts to support the aspirations and innovations of young people. Specifically, nonprofits that exist across the city aim to support student entrepreneurs, making entrepreneurship accessible to all.
One specific nonprofit organization that aims to make youth entrepreneurship accessible to all is the organization Build NYC. Its mission is to increase accessibility to young individuals seeking to start an enterprise, no matter where they live, what their race is, or what their socio-economic status is. To carry this out, BUILD’s team teaches not just students about entrepreneurship: it guides educators on how to encourage innovative thinking. So far, the organization has served around 3,300 students across New York City, enabling the creation of 326 youth-led organizations.
BUILD is only one of such organizations. Another similar nonprofit is the Network for Teaching Entrepreneurship, an organization focused on teaching the next generation of entrepreneurs across the globe. Although NFTE doesn’t solely operate in the city, it’s reached over 2,500 students in the Mid-Atlantic region! This organization’s model includes providing educators with an entrepreneurship-centered curriculum, teaching students about business through instructional programs and hosting competitions where students can create and pitch their own startups.
Organizations such as Build NYC and NFTE are essential to maintaining the small-business-supporting environment that New York City offers. Robert Piercey, the regional director of the Northeast Region for NFTE, shares: “NFTE finds that young people that go through our programs are often more prepared when they enter the workforce and earn a higher salary after five years.” Clearly, encouraging innovation from a young age is vital to the enrichment of the next entrepreneurial generation, allowing them to take hold of their futures.
Nonprofits have also fueled a movement of hands-on youth entrepreneurship summer programs that transform theory into practice. Across the five boroughs, students are spending their summers immersed in learning financial literacy, strategic marketing, and how to confidently pitch their ideas through intensive summer programs.
Just one out of the plethora of summer programs available is Bossgirls, which specializes in empowering girls with an interest in entrepreneurship to help them create their own startup and teach them the entrepreneurial process. Simone Ginsburg ’26, who participated in this program last summer, shared that it “made the idea of launching a start-up feel tangible by immersing us in the real entrepreneurial process.” Experiences like Bossgirls demonstrate how summer programs go beyond classroom learning, giving students practical skills, mentorship, and the confidence they need to turn their ideas into action. By investing in youth during these formative months, New York City ensures that its culture of innovation continues to thrive, carried forward by a new generation ready to build, adapt, and lead.
Yet, the city’s investment in young entrepreneurs doesn’t end when the summer does. Rather, it is engrained in the culture of the city itself. While the hustling and bustling of the city may initially intimidate young people interested in starting a business, in reality, that same energy is what fuels opportunity. The fast pace pushes entrepreneurs to think creatively, adapt quickly, and take initiative. The very hustle that may seem overwhelming initially is what transforms New York City into an entrepreneurial hub for young innovators.
The fast pace pushes entrepreneurs to think creatively, adapt quickly, and take initiative. The very hustle that may seem overwhelming initially is what transforms New York City into an entrepreneurial hub for young innovators.