I was looking at the business news section of BBC and I came across an article called ” Brooklyn: New York City’s hip start-up hub “. Brooklyn, NY seems to be the spot to start your dreams. Manhattan with its high expense and less room has fallen out of favor for many.
According to this article on BBC “The New York borough of Brooklyn has become a hub for the Big Apple’s cutting-edge crowd – and among them are a new generation of entrepreneurs kick-starting successful new businesses despite the economic gloom.” The article puts a spotlight on a group of entrepreneur who started a soda business called Brooklyn Soda Works. The drive from these young entrepreneur to start their company was admirable. One of the founders said that he would come home from work, grab a quick bite to eat, then go off to make sodas till three or four in the morning, and go back to work again later; they apparently did this for two years, seven days a week. The entrepreneur of Brooklyn Soda Works started producing the sodas at home and selling to friends. They are now selling the products in bars and restaurants. As I stated in the beginning Brooklyn is a lot easier to launch a business because of good real estate.
According to the article, “The borough used to be famous for its large-scale manufacturing and was home to companies like the pharmaceutical giant Pfizer – the US Navy Yard also employed thousands of people. But in recent decades, many factories closed down, and tens of thousands of Brooklyn’s industrial jobs were lost.As a result, commercial real estate became easily available – and much cheaper than Manhattan. Perfect for start-ups. In turn, markets like the Brooklyn Flea have become incubators for small businesses – a boon during the recent economic downturn.” Another product being produce in Brooklyn is called People’s Pops shops.
In conclusion, I think this increasing trend of small business starting outside of Manhattan will continue. Manhattan will continue to be a favorite spot for many living and visiting NYC; due to its lack of space as well as increasing prices the charm of the outer boroughs will grow. Click here to find more information on People’s Pops Shops and read the full article. Do you know of any one who started a small business in Brooklyn.