The target market for Clarity Consulting will primarily encompass small companies and individuals seeking guidance on navigating the intricate web of regulations and statutes. These entities often lack the extensive resources and in-house expertise required to manage the complexities of regulatory compliance. Navigating the regulatory landscape during such transitions can be overwhelming, and this boutique consultancy aims to alleviate these challenges by offering comprehensive compliance and risk analysis.
This targeted approach recognizes small enterprises' unique requirements and constraints, ensuring the consultancy's services are accessible, practical, and tailored to each client's circumstances. Clarity Consulting can also create a specialized compliance department fully equipped to handle all aspects, such as data privacy, sanctions, and third-party relationships.
In the United States, small businesses, defined as those with fewer than 500 employees, play a significant role in the economy. According to the U.S. Small Business Administration, these businesses contribute to two-thirds of net new jobs and generate 44% of the nation's economic activity. From January 2021 to January 2022, over 5.8 million applications were filed for new businesses, as reported by the U.S. Census Bureau's Business Formation Statistics.11 New York ranked fifth in the total number of new business applications, with 336,510 filings nationwide during this period. Adjusting for population, New York had 1,730 applications for every 100,000 people, aligning closely with the national average and ranking 17th among states. The Company plans to establish its base in New York, capitalizing on the location and the founder's business network, while intending to extend its services nationwide to new businesses.1
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