With the third-largest economy in the United States, New York boasts a gross state product of approximately $1.7 trillion. This financial strength rivals that of countries like Canada and South Korea. Despite their size, small patenting firms in New York demonstrate remarkable productivity, generating an average of 13 patents per employee compared to larger firms. Furthermore, 36% of the state's small businesses are under five years old, reflecting a thriving entrepreneurial spirit.
Small Business Stats: