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City Savvy

If you can make it there, you'll make it anywhere. Never before has this popular saying rung more true. For ages, New York City's charm has been encapsulated in the efforts of enterprising entrepreneurs.

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This story appears in the January 2008 issue of Entrepreneur. Subscribe »

Working off of ambitious dreams in a miniscule space, these entrepreneurs have made it big in the Big Apple. But the barriers to entry are becoming formidably restrictive. Bigger chains are moving in, "Store Closing" signs are common and rents are constantly rising. "When it's too expensive to live in a place without being on some kind of corporate salary with benefits, entrepreneurs stop coming," says Jerilou Hammett, editor of The Suburbanization of New York: Is the World's Greatest City Becoming Just Another Town?, who foresees a time when entrepreneurial opportunities will no longer exist in the boroughs, let alone in Manhattan. "That's one of the most serious implications of where New York [City] is going today."

 

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