New York City Mayor Zohran Mamdani on Wednesday signed an executive order aimed at easing the regulatory and financial burden on small businesses by reviewing and cutting fines, fees, and penalties imposed by city agencies.

Executive Order 11 directs the city to create a comprehensive inventory of fees and civil penalties paid by small businesses and to identify opportunities to reduce or eliminate those costs. The initiative comes amid longstanding concerns that a complex web of regulations—estimated at more than 6,000 rules—has made it increasingly difficult for entrepreneurs to start, sustain, and grow businesses in the city.

Mayor Mamdani signed the order at the counter of a locally owned small business in Cypress Hills, Brooklyn, underscoring his administration’s emphasis on neighborhood-based commerce. “You cannot tell the story of New York without our small businesses,” the mayor said. “Yet our city has long made it too hard for these same businesses to open their doors and keep them open. With today’s executive order, we will deliver real relief from the fines and fees that drive up costs for businesses and customers alike.”

The order places oversight with Deputy Mayor for Economic Justice Julie Su, who will work with seven city agencies to carry out the review. Within 45 days, the agencies must compile a full inventory of fees and penalties and assess which can be reduced administratively. Within 90 days, they are expected to identify unnecessary fees that can be eliminated through rulemaking. A further review over the next 180 days will focus on fees requiring legislative action to amend or repeal.

Deputy Mayor Su said the move reflects a broader shift in how city government engages with small business owners. “The small business owners who give this city its identity and vibrancy have too rarely been considered in the backrooms where decisions are made,” she said. “Mayor Mamdani understands that when New Yorkers feel economic pressure, small business owners often feel it first. Uplifting them is a core responsibility of city government.”

The executive order also calls for a report within one year on the feasibility of an amnesty and relief program for business owners, potentially offering forgiveness or reduction of past penalties.

City officials said the initiative is part of a broader economic justice agenda aimed at simplifying regulations, lowering costs, and creating a more supportive environment for the small businesses that form the backbone of New York City’s economy.