REMARKS
Council Member Feliz emphasizes the importance of small businesses and outlines the budget hearing objectives
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3 min
Council Member Feliz underscores the vital role of small businesses in New York City's economy and neighborhoods, presenting an overview of the fiscal 2025 preliminary budget for the Department of Small Business Services. He expresses his commitment to ensuring fair, transparent, and accountable budgeting that meets the needs of small businesses and the city.
- The fiscal 2025 preliminary budget for SBS totals $173.9 million, with nearly 20% allocated for personal services
- Feliz highlights concerns about the agency's double-digit vacancy rates and the need to address them
- The council member emphasizes the importance of equity in funding and assistance for small businesses
Oswald Feliz
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Small businesses, are the backbone of our economy.
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And small businesses in New York City in particular are what give our neighborhoods their unique flavor and feel.
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The contributions of our small businesses are endless.
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They create local jobs.
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They keep neighborhoods vibrant.
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And they generate so much economic activity.
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As the council member of District 15, I know this very well.
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My district covers Fortum Road, the busiest commercial corridor in the entire Bronx, also arthur Avenue, another vibrant commercial corridor.
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It is crucial that New York City continue to support our small businesses.
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Not only as they continue to recover from the long lasting effect of the coronavirus pandemic, but also particularly in this era of consolidation and monopolism of large multinational corporations.
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I'm excited to hear from the agency on how this preliminary plan is responding to the needs of our small businesses our small business community, and also how resources will be utilized.
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For a little context, The fiscal 2025 preliminary budget for SBS totals 173,900,000 with 34,400,000 or nearly 20% proposed for personal services to support 302 current full time employees.
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Of the total budget for the agency, 103,800,000 or nearly 60% supports the department's operations.
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The remaining $70,100,000 of SBS's budget is passed through funding for the New York City Economic Development Corporation And NYSE And Company.
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The department's fiscal 2025 preliminary budget is 109,600,000 or 38.7% less than the fiscal 2024 adopted budget of 283.5 in.
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The agency while improving continues to have double digit vacancy rates.
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It'll be important for the committee to understand what steps the agency is taking toward those these vacancies so that it can appropriately carry out the poor emission of supporting our small businesses.
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It is the council's responsibility to ensure that the city's budget is fair, transparent, and accountable to all New Yorkers.
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This includes equity and funding and equity and assistance.
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As the new Chair of the Committee on Small Business, I will push recomability and accuracy and ensure that the budget reflects the wants, the needs, and the interests of the city.
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This hearing is a vital part of this process, and I expect that SBS will be responsive to the questions and concerns of council members.
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I look forward to an active engagement with the administration over the next few months to ensure that the fiscal 2025 adopt the budget meets the goal.
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That this council has set out.
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I would like to thank commissioner Kim.
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Thank you for joining and for test tonight today.
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I also want to thank the staff of the small business department who have been very responsive to our many requests.
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We would not be able to analyze the city's budget so thoroughly and at such detailed level without your cooperation.
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So thank you.
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I would also like to thank my staff and the staff of the finance and the legislative divisions for their help and preparing for this hearing.
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I also wanna thank committee councils, Rebecca Barela, and Jessica Bouley for helping organize today's hearing.
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Thank you.
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I would also like to recognize council member Zuan and Anh, who have joined us today.
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Thank you, and I'll pass it back to our committee council, Jessica Bouley, so that she can imagine that all.
