Get All Access for $5/mo

What New York City's New Mayor Bill de Blasio Will Do for Entrepreneurs A look at the policy changes Bill de Blasio pledged during his campaign that are geared toward small-business owners and entrepreneurs in New York City.

By Catherine Clifford

Opinions expressed by Entrepreneur contributors are their own.

New York City has a new boss.

The Big Apple has voted Bill de Blasio as its next mayor, ending the three-term reign of billionaire entrepreneur Michael Bloomberg. De Blasio handily defeated Republican nominee and former chairman of the Metropolitan Transit Authority Joe Lhota, becoming the first Democrat to take the seat since David Dinkins won in 1989.

Related: Step Aside, San Francisco: New York-Based Companies Expected to Steal the IPO Show

De Blasio was behind in the race for the Democratic nomination and staged a late-in-the-game comeback against then frontrunner Christine Quinn. He aggressively campaigned on a platform that marks an intentional right angle -- or, perhaps, "left" angle -- turn from the political agenda of Bloomberg. De Blasio won significant political favor for his biracial marriage with once avowed lesbian Chirlane McCray.

One concern about de Blasio is whether he has enough political experience to manage the responsibilities of running New York. His career, thus far, has included only minimal time in the public eye. After working on Hillary Clinton's 2000 race for U.S. Senate, de Blasio was sworn in to become the City's public advocate, the second-highest elected office in the city. In his time as the public advocate, de Blasio sued New York to get access to data on the nature of fines being levied on small-businesses.

Related: Where New York Mayor Candidates Stand on Business and Entrepreneurship

Here is a rundown of the policy changes de Blasio pledged during his campaign that are geared toward small-business owners and entrepreneurs in New York City.

  • Establish local economic-development groups in every neighborhood throughout the city, bringing together business owners, community leaders and teachers. Those local groups will serve as loan officers in a NYC Innovation Equity Fund, which would be funded with money from the city pension funds.
  • Crack down on what he calls "nuisance fines," those levied for non-serious infractions on small-business owners. Local economic groups would educate small-business owners, helping them to avoid unnecessary fines.
  • Provide outreach and technical assistance specifically for immigrant entrepreneurs.
  • Replicate the success of the Brooklyn Navy Yard by supporting manufacturing business throughout the city in land owned by the city.
  • Give local businesses a leg up on winning New York City government contracts by giving them a second chance at winning a contract if a non-local business makes a more competitive bid.

Related: New York's Business Community Waxes Sentimental for Its Departing Billionaire

Catherine Clifford

Senior Entrepreneurship Writer at CNBC

Catherine Clifford is senior entrepreneurship writer at CNBC. She was formerly a senior writer at Entrepreneur.com, the small business reporter at CNNMoney and an assistant in the New York bureau for CNN. Clifford attended Columbia University where she earned a bachelor's degree. She lives in Brooklyn, N.Y. You can follow her on Twitter at @CatClifford.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Leadership

7 Telltale Signs of a Weak Leader

Whether a bully or a people pleaser who can't tell hard truths, poor leadership takes many forms.

Fundraising

Will Investors Bite on a Pizza Wallet? Find Out on the Wild Season Finale of 'Elevator Pitch.'

On the season 12 finale of "Entrepreneur Elevator Pitch," contestants teach investors to look at ordinary things in a whole new way.

Business News

Barbara Corcoran Says the Best Entrepreneurs Are Good at This One Thing

Real estate entrepreneur and investor Barbara Corcoran says a few key traits prove effective when starting a business. Here's her top pick.

Side Hustle

At Age 15, He Used Facebook Marketplace to Start a Side Hustle — Then It Became Something Much Bigger: 'Raised Over $1.6 Million'

Dylan Zajac, now a 21-year-old senior at Babson College, wanted to bridge the digital divide.

Business News

I Tried Buying a Car on Amazon. Here Are the Pros and Cons.

Amazon Autos just launched, and users can buy a new car online. Here's how it works and what needs to improve.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.