Small businesses seeing fewer fines, opening faster: city

Small business owners have seen their fines slashed by 40 percent since 2014, according to a new progress report released by the city. That translates to more than $6 million of penalties avoided.

The report also touts the city’s progress in cutting red tape and allowing businesses to open faster. The process to open up a restaurant in the city has sped up by three months, according to the report. Nearly 95 percent of restaurants also earned an “A” letter grade after sanitary violations fell by 40 percent.

Roughly 500 business owners have also received free legal advice since 2015, which helped them negotiate more favorable lease terms, the city said.

“From boutiques to bodegas, small businesses are at the heart of the New York City economy,” said SBS Commissioner Gregg Bishop. “By helping these businesses to start, operate and grow, we’re building a vibrant city where economic mobility includes all New Yorkers.”