Mergers & Acquisitions Advisory

A Neumann & Associates, LLC

March 27, 2019

Buy a business in New York: The New York Business Climate

By Achim Neumann

New York is one of the most prominent and populous states in the US with an estimated population of over twenty million. The state is known to be the cultural, financial, and media capital of the world. New York is also one of the most important centers for international diplomacy.

So what does it take to start or buy a business in New York? As a home for the most sophisticated business entrepreneurs to the largest corporations alike, what is the business climate of New York?

The business climate of New York has been labeled as one of the most complicated. But you can’t help but wonder how large corporations still retain their status as yet a progressive company. How do ordinary residents live in New York even under the circumstances?

What are the Setbacks in New York?

For many reasons, there have been numerous negative feedback on the business climate of New York. The state is known to have the highest tax from individual income tax, unemployment insurance tax, to property taxes.

Union Workforce is also among the highest in the Country. The union serves as the intermediary for the employee and the employer. It is also dedicated to protecting its member’s interest such as an improvement of their wages and working conditions. However, with a large labor union, it forces the hiring sector to hire union workers with a high salary rate but lower working hours.

While New York might be a bit more difficult than other states, it’s for good reason. Other states are attempting to allure businesses while New York is one of the largest economies in the world (much larger than some country’s total GDP!). Doing your due-diligence in selling or buying a business in New York is paramount, but there is serious upsides as well.

What Good is there in New York for you?

New York is home to the largest companies in the United States. As such, it also offers numerous opportunities to anyone looking to move into the bustling state. On the plus side, New York has an industrial workforce with an economic pool of professional and educated laborers. The Empire State is also rich with cultural and recreational resources. New York prides itself as being the global hub of business and is home to 10 % of the largest companies in the United States.

Final Verdict on New York’s Business Climate

New York is a state that is run by people who are passionately driven. They utilize what resources the State has to give to their advantage. If you are set in moving to New York, what you need is to adjust to a competitive environment with a high cultural and economic standard and you should be able to prosper.

Does Business Climate matter? Yes, it does. To start a business or move to a new place, is to have an in-depth study of its environment and use that knowledge to set a stepping stone for your envisioned goal.

Another main advantage is the fact that if you want to buy a business in New York, it will most likely already have been established and profitable meaning the hard part was taken care of and with good management, implementation of new processes, etc. things could very well skyrocket.


About A Neumann & Associates, LLC

A Neumann & Associates, LLC is a professional mergers & acquisitions and business brokerage firm having assisted business owners and buyers in the business valuation and business transfer process through its affiliations for the past 30 years. With an A+ Better Business Bureau rating, the company has senior trusted professionals with a deep knowledge based in multiple field offices along the East Coast and has performed hundreds of business valuations in its history. The firm’s competitive transaction fees are based on successfully completing transactions. For more information, please contact A Neumann & Associates at 732-872-6777 or

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Andrey O, Investor

“Finally enjoying retirement after recently selling my business using the services of A Neumann & Associates. Joe Oddo provided the conduit to a successful transaction. Joe knew when to inject input and when to simply listen and allow the buyers to vent, step back and regroup. The outcome met our expectations and got us to the finish line, which included my staying with the company six months in order for the buyers to get their footing and keep our workforce in the loop. He helped at every step by providing his expert guidance & resources. Thank you!”

Emily Parker Myers, Co-Owner - Myers McRae

“I had been in touch with Karin and Gary from A Neumann & Associates regarding some opportunities and was looking forward to meeting with them. Hence, when they organized a seminar in Princeton, NJ, I was quick to sign up. The seminar was very informative as the team walked the attendees through various scenarios and referenced real life buying/selling situations they had been through. The sessions by Gary, Karin and Achim were crisp and focused and brought clarity to potential seller and buyers. I strongly recommend the team and look forward to continue working with them.”

Gaurav Tyagi

“Thank you for your Event on "How to value, Sell, and Buy A Business for Maximum Profit" and the insight into ANA’s approach on what is involved in the Business Exit for sellers. Garys Hervieiou's "Business Valuation", Achim's "Deal structure" presentation and Karin’s "Preparing the Package" are real street knowledge shared. They answered attendees questions which makes it more interesting for learning from others. Great for small businesses like us. The presentations were totally worth our time and travel for the event to Princeton, NJ from Rockville MD. Ravi Bhutani, President, CIPS”

Ravi Bhutani

“Gary, this is to thank you for an excellent job done in selling our business. We could never have done it without your professional expertise, dedication and time put in without reservation to make it happen. We will gladly and highly recommend you to anybody in our position.  It was a pleasure to work with you.”

Pat Iammatteo, Owner

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“I recently contacted A. Neumann and Associates about getting a valuation of my business done. I spoke with Marc, who explained the process in detail. After meeting with Marc in order to get a clear understanding of my business, and what I was hoping to accomplish. His patience in answering all my questions and his knowledge of the proper way to market my business gave me great confidence that this is the firm I will be using to sell my business for max value. Working with Marc at A Neumann & Associates was very easy and professional. I did not know all that was going to be involved in selling my business but they helped me through the process. What I thought was going to be a just another one of those pushy sales companies was just the opposite. Polite, knowledgeable, and a pleasure to talk to and deal with. I highly recommend this firm to anybody who wants to sell now or down the road. Marc not only knows his stuff, but actually is a real nice guy.”

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