HUDSON BUSINESS START-UP GUIDE. hudsonfirst.com!

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1 HUDSON BUSINESS START-UP GUIDE hudsonfirst.com

3 WHY HUDSON? It s a destination. It s a lifestyle. It s a view no one ever forgets, and it s a business opportunity unlike any other.

5 Have you dreamed of starting a business in Hudson? Are you interested in the business potential here and what you need to do to open a business? Welcome to our world We look forward to working with you and helping you get started. The following document is an overview of what Hudson offers a prospective business and how to work with the city the planning, development, permitting, and licensing systems. The Big Picture Hudson has surely seen a lot of press in the last few years, and this exposure has only helped it grow and develop a distinctive culture and personality: Known as the Friendly City and Upstate s Downtown With an easy walk from the Amtrak, and 2.3 square miles of area, Hudson is an extremely easy city to navigate on foot Known for its architecture, Hudson is described as a treasure of Victorian era homes Just 2 Hours from NYC via train or car and an hour escape from the Capitol Area, Hudson s central location provides access to events and is great for daytrippers Our proximity to the Hudson River inspires with its rich artistic and historical context and outdoor recreation like kayaking and biking

6 The Demographic Snapshot Hudson is a small, diverse community with a historical and artistic heritage that attracts thousands of visitors every year. Businesses that cater to locals as well as visitors can be hugely successful. Average Resident Age 38.7 Households 2,937 Population 6,713 Median Income $35,117 Median Home Value $167,600 Schools/Educational Access Hudson City School District is comprised of: John L Edwards Primary School Montgomery C. Smith Intermediate School Hudson Junior High School Hudson High School Hudsoncityschooldistrict.com Hawthorne Valley Waldorf School (Private) Hawthornevalleyschool.org Columbia-Greene Community College Sunycgcc.edu Also nearby (within 50 mile radius): Bard College The College of Saint Rose SUNY at Albany Hudson Valley Community College Siena College Rensselaer Polytechnic Institute Culinary Institute of America Marist College Area Code: 518 Zip Code: Transportation Amtrak Taxi and Rental Cars: Rick s Taxi Hudson City Taxi Riverview Taxi Enterprise Rent-a-Car Howard s Taxi Pronto Taxi Parking Metered Parking (25 cents/hour) on Warren Street and Municipal Lots from 9-5pm, except on Sundays and in the month of December. For a map of Hudson Parking lots, visit our site. Night Parking Alternate side parking between 12 Midnight and 8:00am on all streets within the City unless otherwise posted, and from June to September 1, alternative side parking is alleviated Friday and Saturday night. *Snapshotdataaboveissourcedfrom:2010U.S.Censusandfrom2013AmericanCommunitySurvey, HudsonCity,NY foundhere: factfinder.census.gov 1

7 Yearly Attractions and Events Hudson Children s Book Festival (May) A free, public event that fosters a love of reading as with world-class creators of books for children of all ages Ramp Fest (May) Food festival celebrating locally foraged wild onions in the spring Hudson Walkabout (May) City-wide tag sale for businesses and residents Flag Day (June) Starting with a parade and ending with a festival and fireworks, a long-time Hudson tradition Hudson Pride (June) A weekend of events including a parade celebrating our diverse community sponsored by the LGBT organization Hudson River Exchange (June) Curated craft and collectible fair featuring local craftspersons and artisans African American Arts & Cultural Festival (Aug.) Parade and festival celebrating cultural and artistic contributions of African Americans Taste of Hudson (September) Event sponsored by Below3rd Association featuring local food and talented chefs Riverfront Chili Cook Off (September) Annual Riverfront Festival and Contest sponsored by Hudson Valley Bounty ArtsWalk (October) Sponsored by the Columbia County Council on the Arts (CCCA) highlighting local artists, musicians, and performers Dalmation Day (October) Occurs at the end fire prevention week and instills pride in our volunteer fire community services Halloween Parade (October) Day of activities for kids of all ages, including local business and trick or treating Winter Walk (December) Winter festival happening on Warren Street with oldtime yule-tide charm and performances Estimated Number of Tourists by Train Each Year 2 Amtrak ridership increased by nearly 10K in 2014 with 187,776 on/offs in Hudson Total Amtrak ridership on the Empire Service line was 1,119,959 in 2014, and is NYS s 4 th busiest station Recent Economic Highlights Etsy s Support Center is here and continues to grow and expand Harney and Sons have purchased a building with plans to expand their ready-drink brands Club Helsinki continually brings in world renowned acts and large number of visitors L&B light industry is located by the River and houses many small businesses Tax Rates for Hudson 2014 Per $1,000 Assessed Valuation 4 City: County: 5.83 Hudson School District: The 2014 Columbia County Tourism report stated that the city of Hudson is at the core of tourism in the county. 3 Hudson is served by the Hudson Police and Hudson Volunteer Fire Department Police: Fire: City Hall: Hudson has a wide range of very active nonprofit community organizations Promise Neighborhood Habit for Humanity Kite s Nest Staley B. Keith Perfect 10 Hudson Opera House Operation Unite

Hudson Resident Employment by Industry Type Household Income in 12534

8 Hudson Resident Employment by Industry Type Household Income in *InformationforResidentEmploymentandHouseholdIncomesourcedfromAmericanCommunitySurvey2013Estimates SelectedEconomicCharacteristics forhudsoncity,ny. Factfinder.census.gov 5

9 Age of Hudson Residents Median Resident age in 2013: 38.7 years Notes: *InformationforResidentEmploymentandHouseholdIncomesourcedfromU.S.Census2010 ProfileofGeneralPopulationfor Hudsoncity,NY. Factfinder.census.gov 6

The Business Opportunities & Benefits Hudson s proximity to New York City and Albany, the Hudson River, and other mustsee destinations, provides a range of business opportunities for the entrepreneur.

11 The Business Opportunities & Benefits Hudson s proximity to New York City and Albany, the Hudson River, and other mustsee destinations, provides a range of business opportunities for the entrepreneur. Life in Hudson is full of community and culture: art openings, farmer s markets and food, outstanding entertainment and events, all converge in our friendly city. If you ve got an idea for a business and think it would succeed in Hudson do a little research and see what Hudson has already

13 Quick Snapshot: Business Breakdown Hudson is fortunate to have a centralized business district. Our main street-- Warren Street is a walkable one-mile stretch catering to both locals and visitors with varied amenities and retail offerings. In the graph below you can see that our Central Business District offers a variety of consumer oriented businesses. The Retail Stores segment includes clothing, books, and house and home shops and the Professional Services segment includes: law firms, real estate, spas and fitness centers like yoga and pilates studios. Consumer-Oriented Businesses in Hudson *Informationsourcedfrommanualcountofthe2015HudsonWalkingGuiide 7

14 Creative Economy Hudson has the highest percentage of entrepreneurs in the State at 9.96%; that s 83 rd in the country 8 Many of these small self-employed locals are artists, writers, designers, crafters and makers, web-designers, caterers Hudson offers the potential to many types of businesses, even if a storefront isn t necessary. Visit upstaecreative.org to learn more and get involved. Hottest little city on the Hudson Columbia County has the 3 rd highest concentration of independent artists in the country. Interior design has been identified as one of the highest growth professions in the region, and Hudson is the epicenter of this industry. Can you Contribute to these Assets to advance the Creative Economy? Are you an entrepreneur? Need to network so that you can work with to make it bigger or better? Will your new business have a venue that will host creative events? Thomas Cole, Frederick Church, and others formed America s first distinctive school of art right here in the Hudson Valley the Hudson River School. Hudson is fortunate to be the home of Olana, Frederick Church s estate. From its historical significance to its awe-inspiring vistas Olana is a remains a significant must-see cultural institution. Hudson plays host to over 40 Art galleries with varied tastes and styles and has seen a major migration from historical metropolitan epicenters like Chelsea in NYC. Is your new business or company creating innovation for technology? Will you create a new collaborative relationship between existing enterprises? Will your new business focus on creating a product or art in a new and innovative way? Not sure if your business is creative? Think again: The creative economy is defined as the enterprises and people involved in the origination, production, and distribution of goods and services in which artistic and cultural content gives the product or service value in the marketplace.

15 Business Planning Writing a comprehensive business plan is the first step in starting a business. Your business plan will: Guide you as you make your business a reality Help you avoid costly mistakes Assist you in preparing financially, whether you plan to fund your business yourself or to obtain outside financing Gain the confidence of others who may have an interest in your business, such as partners, investors, landlords, and suppliers. The most valuable part of writing a business plan is the education gained by researching and writing it. Below is a list of organizations that can help develop a plan: SCORE By providing mentorship and sharing ethically sound business practices, SCORE s nationwide initiatives help entrepreneurs and small business owners at various stages in their professional lives. US Small Business Administration The U.S. Small Business Administration delivers millions of loans, loan guarantees, contracts, counseling sessions, and other forms of assistance to small businesses. New York State Small Business Development Center Through a network of 24 regional centers, the NYSDBDC offers high quality business counseling and training to New Yorkers who want to start a business or improve the performance of an existing business. Columbia County Chamber of Commerce The Chamber provides advocacy, promotional, and benefit solutions for its members. Columbia Economic Development Corporation Similar to HDC, CEDC aims to strengthen the county s tax base through economic development and job creation by assisting businesses locate or expand in Columbia County.

16 Your business plan should include: 1. Mission and Vision Statements A mission statement is a brief description of what your business does. A vision statement answers the question, How will this business succeed? It provides a direction as you make decisions that will impact the future of your business. 2. Business Description Your business description provides the who, what, when, where of your business. It should include: ownership, structure, the type of business, start date and location. There are different types of business entities, each with unique benefits and limitations (Sole Proprietorships, Limited Liability Companies, General Partnerships, Corporations, Limited Partnerships.) Seek advise from legal and accounting professionals to choose the best operating structure for your business. 3. Market Analysis A market analysis will help you determine if there is a need in the marketplace for your product or service, who would be most likely to buy your offering, and where your customers are located. 4. Operations Plan This reflects all the basics of operating your business including: locations and who owns, lease terms, furnishing and supply needs, inventory, legal and insurance needs. 5. Personnel Plan Most new businesses start small and grow. When you do hire you will need to keep in mind that there are employment regulations.

6. Financing Plans You will need to have a solid projection for your business with a wellresearched estimate of your start-up and operating costs, cash-flow projections, projected

17 6. Financing Plans You will need to have a solid projection for your business with a wellresearched estimate of your start-up and operating costs, cash-flow projections, projected profit & loss statements and balance sheets. 7. Marketing Plan Once you ve identified your customer, you need to explain how you will get your customers to buy your product or service.

18 Questions to be addressed in your business plan. The following is a checklist of questions to help you establish a viable, profitable working business plan. Start Here (Starting your Business Plan) Whatdifferentiatesmybusiness/service/productfromothersalreadyinthe marketplace?iftherearealreadysimilarexistingbusinesses,isthemarketlargeenough foryouradditionalproductsorservices? Whoismytargetaudience? Canyoumakeaprofitinyourbusiness?Canyourbusinesssupportthelifestyleyouare expecting?ifnot,howcanyousupplementyourincome? Whatfinancialresourcesdoyouhaveaccesstoinordertosupplythenecessarycapital forrenovationandstartvupoperations? Iffinancialresourcesarelimited,howwillyousecurenecessaryfunding? AreyouintendingtoliveelsewherewhilerunningabusinessinHudson?Ifso,whowill behandlingthedayvtovdayoperationsonvsite? WhattypesofpermitsorlicensesdoIneedtostartmybusiness? WhatifIhaveahomeVbasedbusiness?DoIstillneedalicense? Iamgoingtobeservingfoodproducts.DoIneedspecialapprovals?Permits? IfIsellalcoholicbeverages,whatspecialpermits/approvaldoIneed? Iwillberemodelinganexistingestablishment.Arethereanyspecialconsiderations? BuildingpermitsorapprovalfromHistoricPreservationBoard? WhatkindofpermitdoIneedtoinstallmybusinesssign,awning,oroutdoorseating? Canmyestablishmentofferlivemusic?Whataboutnoiseordinances? Aretherelandscapingrestrictions? HowdoIknowifmybusinessisallowedtooperatewhereIwantittobelocated? What to think about next WhattypeofbusinessentityshouldIhave(Scorp,LLC,etc.)?Howshoulditbe structured? WherecanIgotoobtainaseller spermit? WheredoIgotoobtainstateandfederaltaxIDnumbers? HowdoIcollectthenecessarytaxes? WheredoIobtainmyStateEmployerIDnumber? WherecanIfindoutabouttrainingfundsandprograms? Arethereotherprofessionorganizationsthatcanprovideguidanceorassistance? HowdoIbecomeagoodcorporatecitizenbygettingengagedinthecommunity? Aretherefunding/loanoptionsforsmallbusinesses? HowdoIjointheChamberofCommerceandwhatdotheyoffer? Whatotherlocalresourcesmaybeofvaluetomynewbusiness?

19 Answers to some Questions for HUDSON Q: How Do I know if my business is allowed where I want to Locate it? A: The City of Hudson has various land uses or zones that are defined in the city s municipal code that allow for various types of business uses. For zoning maps, go to Check with the city s Planning Division at To determine if your business is permitted in a particular zone, go to Q: Will I need a Special Permit to build or renovate my space? A: The City of Hudson has a Code Enforcement Department that handles inspections for dwellings, building permits, sign permits, appeals for zoning board. There is a separate process fo buildings in designated historic areas you might need to apply for a Historic Preservation Certificates of Appropriateness. The code enforcement officer also serves as Hudson s plumbing inspector and enforces electrical, housing, and fire prevention codes. Contact Craig Haigh at (518) or visit for more information and downloadable applications and zoning maps. Q: Will I need a Special Permit or License for my type of business? A: The City of Hudson has codes and special licenses that are required for food services, advertising, as well as vending and mass gathering events. The codes and all relevant information can be found here: Contact the City Clerk s Office for more information. Tracy Delaney City Hall 520 Warren Street Phone: (518) chudson@valstar.net

20 How about Business Training opportunities? The Columbia County Chamber of Commerce offers a variety of programs and services to help new businesses in the county achieve success. Visit columbiachamber-ny.com to join. Leadership Columbia County, a program offered by the Chamber of Commerce is a dynamic, community-based program designed to develop informed, action-oriented leaders to meet the future challenges of our area. They offer information, events, networking opportunities and more to help you get your business started Perform Columbia is an association of twenty-four professional and community-based organizations. Our members have come together to promote and nurture the performing arts as essential to a healthy economy and cultural life in Columbia County. Professional Associations in Hudson: Hudson Business Coalition: Organization which promotes diversity and the economic growth of the business community in Hudson. HADA: Association comprised of Hudson Antique Dealers Association Stay in Hudson: Lodging Association for both Hotel and BnB operations Below 3 rd : Business group devoted to promotion of establishments in the lower portion of Warren Street.

Q: Are there Funding/Loan options for Small Businesses? A: Yes SBA MicroLoans The SBA MicroLoan Program provides loans of $2,000 to $50,000 at reasonable interest rates and repayment terms.

21 Q: Are there Funding/Loan options for Small Businesses? A: Yes SBA MicroLoans The SBA MicroLoan Program provides loans of $2,000 to $50,000 at reasonable interest rates and repayment terms. Funds may be used for working capital and/or the purchase of equipment, inventory, or supplies. Any business or prospective business in Columbia or Greene County with under $3.5 million in annual sales and fewer than 500 employees is eligible. Revolving Loan Funds Low-interest loans are offered to businesses that will create jobs in Columbia County. The majority of these loan funds are Community Development Block Grants funds, which means that 51% of the jobs created with these loan funds must be available to be filled by individuals currently at a low to moderate-income level. Contact information for both the SBA or Revolving Loan: Martha Lane, Business Development Specialist via phone (518) or check the website chpartnership.com. Contact Us For information about other available State funding opportunities.

22 Need more information about Financing your Business? Because each business is different, estimating your start-up costs can be difficult. However, as an integral part of your business plan you may want to start thinking about what you think it will cost to do business the first few months of your operation. Think about what will be essential to getting the business started and keeping it going. It s helpful to think about these 3 levels of costs: 1. Investment: Building purchases, equipment or other one-time costs 2. Start-up: Furniture, food, starting inventory, down payments on equipment or other starting costs and fees. 3. Operating: Utilities, rent, inventory, insurance or on-going costs There are traditional ways to get your seed-money: Bank or Credit Union Loans (traditional and non-traditional) Investors and certain types of bonds Crowd-funding through platforms like Kickstarter For more information about U.S. Small Business Administration Loans for Starting or Expanding your business visit sba.gov: Basic 7(a) Loan Program: Loans to eligible borrows for starting, acquiring, and expanding a small business. This type of loan is the most basic and the most used within SBA s business loan programs. Borrowers must apply through a participating lender institution. Certified Development Company (CDC) 504 Loan Program: Provides a growing business with long-term, fixed rate financing for major fixed assets such as land and buildings. Microloan Program: Offers very small loans to start-up, newly established or growing small businesses concerns. SBA makes funds available to nonprofit community based lenders, which, in turn, makes loans to eligible borrowers in amounts up to a maximum of $50,000.

Location, Location, Location It s no surprise to anyone that where your business is located can make all the difference. Hudson is located just two hours north of NYC and an hour south of Albany.

23 Location, Location, Location It s no surprise to anyone that where your business is located can make all the difference. Hudson is located just two hours north of NYC and an hour south of Albany. What makes it even more special is that Hudson is accessible by train and so walkable that a car is unnecessary. You won t compete with big-box chain stores in Hudson as our zoning restricts chain stores in most retail districts. Be aware that there is more to see in Hudson than just Warren Street. Many businesses are choosing locations off-warren or closer to the Hudson River. Real Estate Agencies scottcohenrealty.com halstead.com garydimauro.com brealestate.com ruthmoserrealestate.com hudsontownandcountryre.com hvreal.com jasonotoolerealestate.com marymullane.com househudsonvalley.com

24 Reference and Source List: 1. Demographic"&"Housing"Estimates"2009;2013"Estimates." " 2.AmtrakFiveYearFinancialPlan. YearVFinancialVPlanVFY2013V2017,0.pdf 3.Kocijanski,Katie. Countyofficechecksinwithdestinationspots. October1,2014.Register Star.Web.January25, TaxRatesforHudsonweresourcedfromtheColumbiaCountywebsite: Columbiacountyny.com/deps./rps/documents/2014_TaxRates.pdf 5. Selected"Economic"Characteristics"2009;2013"Estimates. 6. of"general"population"2009;2013"estimates." 7.HudsonWalkingGuide2015,aninformationalbrochuredevelopedbyTheHudson BusinessCoalitionandHudsonDevelopmentCorporation 8. HudsonHasMostSelfVemployedWorkersinNewYork. February1,2012.Albany BusinessReview.Web.January25, workers.html Presented and Distributed by Hudson Development Corporation 1 North Front Street Hudson, NY Hudsonfirst.com

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