New York is the beating heart of the world as its residents are a blend of different people from across the globe. As it core is Manhattan. Todays this place is consider among the world’s major commercial, financialand cultural center plus it’s describe as the media capital of the world which ultimately makes it the world most economically powerful city.Blessed with many iconic sites that includes skyscrapers such as Empire State Building, central park and many more.
From business perspective this place is a heaven for entrepreneurs, startups and business development people. They are hundreds of notable corporations, companies and industries ranging from media to financial services to fashion to real estate and many dozens that are established and flourished within this busy state.
Adding to it as it’s mentioned earlier that New York is observed as the financial capital of the world because the New York Stock Exchange, located on Wall Street and the NASDAQ are the world’s first and second largest stock exchanges, respectively, when measured by average daily trading volume and overall market capitalization. As the financial services account for more than 35 percent of the city’s employment income.
Talking of its core that is Manhattan which is a home to six major stock commodities and future exchanges : American Stock Exchange (now NYSE MKT), international Securities Exchange , NASDAQ, New York Board of trade, New York Mercantile Exchange , New York Stock Exchange. This contributes to New York City being a major financial service exporter, both within the United States and globally.
So since the founding of the Federal Reserve Banking system, the Federal Reserve Bank of New York in Manhattan’s financial district , where monetary policy in the United States in implemented, although this policy is decided in Washington by the Federal Reserve Bank’s Board of Governors. So In a nutshell New York Fed is the largest, in terms of assets, and the most important of the twelve reginal banks. Asmalls this place is a hub of and large business, so one of the top insurance agencies (The Hartford) which is ranked 12th out of 24 insurance companies.
It entertains business men in different ways of services. As the NYSSBDC which was created in 1984, administered by the State University of New York, is established to provide free, one to one business advisement and information to existing or aspiring entrepreneurs in New York
