Retail Experts Clash with Small Business Proponents Over NYC Law

Retail Experts Clash with Small Business Proponents Over NYC Law



The New York City Council is debating a bill it says could help storefront vacancy by giving small businesses a leg up on the competition. It held a hearing on the Small Business Jobs Survival Act, a bill that proponents say could help small businesses negotiate more equitable lease terms—in turn, keeping them in business when they otherwise would have to go dark. Small retail space vacancies in certain areas of the city are increasing at a fast clip, mainly because small tenants are being priced out of space due to increasing rents.

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