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Bitcoin News

A couple of weeks ago, a key license for Bakkt was approved by state regulators in New York, enabling it to become a limited trusted company.  Bakkt – founded last year – was created in order to “build the future of digital asset infrastructure.” This will facilitate the process for customers to keep their bitcoins and make cryptocurrency purchases. What this means in practical terms is that Bakkt will be able to store a variety…

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Conducting Businesses in New York: Pros and Cons

Many people dream of having their own businesses.  But how practical is it?  What are some of the obstacles involved in opening and maintaining a business in America today? According to a recent National Bureau of Economic Research report, immigrants are twice as likely to have their own businesses in America than those who grew up in the country.  This generates $1 trillion in annual sales review.  One possible explanation for this is that people…


New York State Tightens Privacy Laws

New York State will soon have a new data security program to help protect businesses. Governor Andrew M. Cuomo just signed the bill that will update the state’s privacy law and will go into effect in 240 days. The law will expand what is defined as personal information and will add requirements and timelines for people to be notified of data breaches. As Cuomo said, “As technology seeps into practically every aspect of our daily…


Wind Energy Coming to New York

Recently, Governor Andrew Cuomo selected the European wind farm giant Equinor to build the 816-megawatt offshore wind farm coming to the area. Equinor is considering leasing the South Brooklyn Marine Terminal in Sunset Park for both the logistics and creation of the wind farm, which would create hundreds of jobs and offer valuable investments into the area in Brooklyn. As a spokesman for the potential partnership said, “The effort to bring hundreds of green manufacturing…


NYC and Minimum Wage

January 1, 2019 marked the implementation of NYC’s minimum wage increase to $15 per hour.  Any place of work that has 10 members of staff or more, has to pay them at least $15 per hour.  NYC will be the 43rd state to raise the minimum wage legally like this. In this article, we look at the impacts of that. In addition, the first US city that is implementing minimum wage for ride-sharing driver employees…


Booming Business Brands

Last week the Brooklyn Chamber of Commerce kicked-off a “Brooklyn Made” program in order to certify the authenticity of products who dare to claim that they are actually and 100% truly “Made in Brooklyn.” Not only will the certification tell consumers where the manufacturer is headquartered, but a rating of gold, silver or bronze will allow the most discerning customers the ability to distinguish between products merely from Brooklyn and products that create manufacturing jobs…


New York Business Champions

Earlier this year Phil Andrews of the Long Island African American Chamber of Commerce (LIACC) was named President of the 2019 Small Business Champion.  The recognition and commendation comes from the US Small Business Administration (SBA)’s NY District Office. The LIAACC is the largest African American Chamber of Commerce in New York. it provides services to Kings, Nassau, Queens and Suffolk. The criteria for selection by which Andrews was commended is: Made significant endeavors to…


New Mergers and Acquisitions

Mergers and acquisitions can be very beneficial to a state’s economy. As stated in an article in Economy Watch: “Mergers and acquisitions generally succeed in generating cost efficiency through the implementation of economies of scale. An increase in cost efficiency is effected through the procedure of mergers and acquisitions. This is because mergers and acquisitions lead to economies of scale. This in turn promotes cost efficiency.”  Here we take a look at a few recent…



Thriving Businesses

A look at the success of Peter Luger’s steakhouse – a restaurant that has been thriving in Brooklyn, NY for over 130 years. Described as the “quintessential, old school NYC steakhouse experience.”  According to the eatery’s VP, David Berson promote “simple goodness” family owned business is one of the few Michelin starred restaurants in the city and has made Zagat’s list of Top Restaurants for over 30 years.