Five Tips for New York City Entrepreneurs to Grow Their Business in 2026

You're working late nights, weekends, and caught up in the hustle and bustle. And now what started as a way to earn extra money has blossomed into a business with real potential.

If you handle everything yourself—from logistics and production to marketing, finance, and everything in between—you're part of a growing group of sole proprietors. While small businesses often involve an owner and a few employees, for many entrepreneurs, the concept of "sole proprietorship" is what makes the most sense for their business model and goals.

Whether you're considering the solopreneur life or have already launched your business, here are five helpful tips to help you grow your business in 2026.

1. Identify or strengthen business opportunities

If you're looking to become a solopreneur or improve your current offerings, look for opportunities in New York City or come up with an innovative idea. Perhaps it's a service that can help others, or a product that can improve or simplify their lives.

Once you have a big idea, careful planning and preparation will help you launch your startup successfully. This may include researching trends in your industry to see if you're filling a niche or growing need. Look for long-term demand and understand your overall target market, and not just seasonal or trendy success.

2. Create a business plan

Start by creating or specifying business descriptions, describing your goals and strategy. Your plan doesn't have to be long, but it should include information about your mission, objectives, competitor analysis, marketing approach, and financial projections.

If you're already running a business, check your client base. Do you have regular clients? Do they refer others to you? Explore opportunities to earn extra income with a stable and growing client base. If you have any, this will be a positive sign that your business may be ready for the next step.

3. Use savings to influence growth

Many entrepreneurs use personal savings to start their business and also open credit lines for business or take loans for small businesses, to provide Financing equipment and marketing plans. Regardless of where you're starting, setting economic priorities will help you secure the funds you need to get your business off the ground. One powerful tool for solopreneurs is JPMorganChase's new Solo 401(k)This plan is designed for business owners without full-time employees, excluding their spouses, and has high annual contributions—up to $72,000 for themselves and their spouse.

Consistency is key. According to Chase, while Solo 401(k) accounts Solo 401(k) accounts are a popular choice for business owners, with 70% of them not contributing to them in the past year. Forming small, sustainable habits, such as setting up automatic monthly contributions or scheduling quarterly coaching meetings with a financial advisor, can help cement these actions. Over time, these simple actions, taken together, help Solo 401(k) clients realize their full potential and achieve meaningful long-term results.

You can also seek additional funding from angel investors—wealthy individuals who can provide small investments, typically in the very early stages of a business. Angel investors take on more risk but want a stake in the venture. Crowdfunding can also be beneficial for solo entrepreneurs. With the right product and approach, you can raise small amounts from a large pool of individual online advertisers, with a bonus for early engagement with target customers.

4. Develop your marketing and brand strategy

Define your brand voice and value proposition and choose the right marketing channels for growth. You can explore channels like social media, email marketing, or paid advertising. When creating a realistic marketing budget, consider the cost of tools, advertising, and third-party services like graphic design or content writing. Start small, measure results, and scale what works.

You should also build a strong network to find mentors who can offer startup advice. Focus on your target audience to effectively market your products and services to them.

5. Plan for growth and operations

Logistics side entrepreneurship Includes considerations for order fulfillment, customer service, project management, and planning. Invest in the right tools to streamline daily operations, improve customer service, and save time.

Final note. Self-employment comes with new tax obligations, including: quarterly taxes and self-employment tax. You may also be required to pay sales tax depending on your industry; sales tax is payable in all states where your goods or services are sold.

You may already be operating as a sole proprietor, but going full-time may mean exploring a more formal business structure. While forming an LLC to supplement your income is common, consider which structure best suits your long-term goals and legal needs. Depending on your industry, you may need licenses, permits, insurance, contracts, or compliance documents before you can legally and safely scale your operations.

If you'd like additional assistance in taking your solo business to the next level, your local financial institution can assist you. You can also contact Chase business banker for further information and advice.

This article is for informational/educational purposes only: opinions expressed in this article may differ from the official policy or position (or endorsement) of JPMorgan Chase & Co. or its affiliates. The opinions and strategies described may not be suitable for everyone and are not intended to serve as individual advice/recommendations for any individual or business. This material is not intended to serve as legal, tax, or financial advice or to indicate the availability or suitability of any product or service of JPMorgan Chase Bank, NA. Before making any decisions, it is important to carefully evaluate your needs and objectives and consult with appropriate professionals. Projections and retrospective analyses do not guarantee similar future results. JPMorgan Chase & Co. and its affiliates do not provide, recommend, or assume any liability for third-party products, services, or other content.

Deposit products provided by JPMorgan Chase Bank, N.A., Member FDIC. An equal opportunity lender.

ABOUT EVERYDAY 401(k) BY JP MORGAN

Everyday 401(k) is an accounting service available to clients. This service is provided by JPMorgan Invest Holdings, LLC (JPMIH). After registering for the service, clients are referred to JP Morgan Asset Management for investments. All investments made will be tracked by the accounting service. This material has been prepared for informational and educational purposes only. It is not intended to provide investment, accounting, legal, or tax advice, and should not be relied upon. It is educational in nature and is not intended to recommend any specific investment product, strategy, plan feature, or other purpose. This information is provided for illustrative purposes only and is not intended to constitute an offer or solicitation with respect to the purchase or sale of securities. Vestwell Holdings Inc. may provide certain accounting and related services on behalf of JPMIH. Vestwell Holdings Inc. provides various fiduciary and non-fiduciary services on its proprietary accounting platform to support tax-compliant retirement plans. To learn more about Vestwell Holdings Inc. For more information about JP Morgan Asset Management and its services, visit vestwell.com. JP Morgan Asset Management is a trading name of JPMorgan Chase & Co. and its affiliates worldwide. If you have a disability and require additional assistance viewing this material, please call 1-800-343-1113 for assistance. Telephone calls and emails may be monitored and/or recorded. Personal information will be collected, stored, and processed by JP Morgan Asset Management in accordance with our privacy policies.

Идентификационный номер материала 07392dc3-eca2-11f0-8416-5182a1487a0d