When you think about New Year’s Eve, a few things likely come to mind. There’s the champagne, noisemakers, silly glasses — and of course, Times Square.

But that famous annual celebration didn’t actually start out as just a New Year’s party. In fact, it has a history that is steeped in the business world.

The party started in 1904. That’s the year that the New York Times moved its headquarters to that intersection of Broadway and Seventh Avenue — more commonly known as Times Square. In fact, the newspaper is what gave Times Square its current name. Before that, it was known as the Long Acre Square.

So when the Times moved its headquarters there, owner Adolph Ochs decided to throw a big party to introduce the building and ring in the new year. It was so popular that it caught on and they continued the party for years after.

A Good Example of the Benefits of Hosting a Business Event

Of course, today’s event isn’t directly related to the New York Times anymore. In fact, the building isn’t even home to the Times or any other business — except a Walgreens — today. But this little history lesson does demonstrate how powerful parties or events can be for businesses. Sometimes, they even take on a life of their own.

Times Square Photo via Shutterstock

This article, “Did You Know? Times Square New Year’s Eve Party Started As a Business Event (Watch)” was first published on Small Business Trends