The City has successfully implemented Small Business First, a set of interagency policy and procedural changes that are expected to save businesses $50 million annually. Since the launch of this initiative, the time to complete common business transactions, such as obtaining permits and licenses, has been reduced by 30 percent.
The de Blasio Administration launched a new program designed to help women entrepreneurs access affordable lines of credit to start, grow and sustain their businesses. The new program, called WE Credit, will provide up to 250 women entrepreneurs with lines of credit at below-market interest rates. WE Credit is made possible through a public-private partnership between the City, Goldman Sachs, Squarespace, and Fundation.
Through a service called Priority1, job seeking veterans and their spouses are provided with priority services throughout the Workforce1 Career Center system. Select centers are equipped with dedicated Veteran Specialists, many of whom have military backgrounds, to help jobseekers navigate the transition to civilian employment.
Through the program, called WE Connect Mentors, 22 women founders and CEOs will offer mentorship sessions to aspiring women entrepreneurs. The new mentors come from a range of industries including tech, fashion, and financial services. WE Connect Mentors has already connected more than 1,000 women entrepreneurs with expert advice and support from more than 40 mentors since 2016.
During the first year of the program, called the Citywide Nurse Residency program, 500 newly-hired nurses will be provided with specialized training that promotes job retention. The program will support participating hospitals with implementing a year-long residency that bridges the gap between education and practice for newly-graduated nurses.