Our expert team has studied New York state based upon changing market trends, demand & supply of products & services, government schemes & policies and have identified, traditional as well as new emerging business opportunities, and collected a few potential & profitable business ideas. And prepared a “Market Research & Opportunity Analysis Report for the New York state”.
New York state is located in the Mid-Atlantic and North-eastern region of the USA having a geographical area of 54,556 square miles that ranks it as the 27th largest state in the USA. It is the 4th most populous state of the country with a population of 20.2 million in the year 2020 and had a population density of 416 per sq. miles that ranked it 7th as per population density.
It has diverse geography with central part consist of Finger Lakes, western part has Great Lakes region, upstate New York region has ranges of mountains and the southern region is a part of the Atlantic coastal region. It shares international border with Canada and has the largest city in the country, i.e., New York city.
The GDP of the state is estimated to be US$ 1.75 trillion in the year 2021 that ranks it as 3rd state in the country and equal to 8.12 % of the country’s total GDP. The GDP per capita is also one of the highest i.e., US$ 87,025 in the same year. The composition of the state GDP as Financial Activities (30%); Professional and Business Services (13.5%); Transportation, Trades and Utilities (13.5%); Government (10.5%); Information (9.5%); Education and Health Services (9.2%); Manufacturing (5%); Leisure and Hospitality (4%); Construction (3%) and other services.
The state shipped goods of worth US$ 61.9 billion in the year 2020 that equals to 4.3 % of the country total export. The top exported items were Diamonds (10.7%); Gold (9.3%); Hand-drawn paintings (6.9%); Jewellery articles (4.5); Aircraft including engines, parts (1.7%). The major export partners of the state are Canada, Switzerland, United Kingdom, Hong Kong, Germany. In the same year 2020, the state imported goods of worth US$ 153.8 billion, i.e., 6.6% of the country total import value. The top imported items were Precious metal (14.3%); Gold (unwrought) (13.9%); Diamonds (7.3%); Gold (semi-manufactured form) (2.6%); Jewellery articles (1.9%). The import was from the countries as Switzerland, China, Canada, India and France.
The state government supports business environment by providing Tax-based Incentives, Operational Support, Innovation Support, Growth Support, Export Assistance, Minority and Women’s Business Development Programs, etc.
The transposition system for people and goods transit is world-class with a wide network of roads, rail-lines, airports and waterways. It includes 162 public airports; fright rail consists of 4 Class-1 railroads, 36 Class-2 (regional) and Class-3 (short line); major canal waterways as the Erie, the Champlain, the Oswego and the Cayuga-Seneca Canals; and 31 Interstate highways.
Business ideas for the New York state consist of
- Service businesses as Event management, Bicycle renting, Food delivery, etc.
- Food related business as Brewpub, Cloud Kitchen, Healthy Snacks manufacturing, etc.
- Clean Energy Businesses as manufacturing of Solar panels, Biofuel, etc.
We have done market research and analysis and come up with the best business opportunities in New York state that are focusing on present situations. The ideas are based on the availability of resources and have huge growth potential in this state.
What I will get from this report?
- You will get researched based business ideas for the region.
- You will get geographical, demographical, and market data.
- You will get the market insights & dynamics (growth drivers, opportunities, threats, restraints).
- You will get the demand-supply matrix which will show the market potential.
- Most importantly you will get key details for each business idea.
Key questions answered in the report: –
- Which are the most profitable businesses in the selected locations?
- What are the major drivers, trends, restraints, threats, and opportunities of business ideas?
- What Infrastructure is available in a selected location.
All these and many more questions will be answered in the report with detailed information.
Why one should get this innovative report?
- This is the most innovative format of the report which helps you make the decision about the business idea on the basis of information provided.
- Most systematically researched and constructed report.
- Prepared by experts and professionals from the industry.
How I can order this report?
- You can ask for all business planning reports related to the subject.
- Drop a line about your interest to info@meticulousbplans.com
- OR fill up the inquiry form.
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