When Mayor Eric Adams took office, the city’s business community breathed a sigh of relief.

For eight years, business leaders had railed against the liberal ideology and policies of Mayor Bill de Blasio. He won office on a promise to end income inequality, reverse the economic policies of his predecessor — the business friendly billionaire Michael R. Bloomberg — and thrived on criticizing the city’s business elite.

Mr. Adams, on the other hand, spoke about how important wealthy taxpayers were to New York’s coffers and how companies provided middle-class residents with good jobs. He often cited the city’s healthy bond rating as one of his major accomplishments.

The connection between Mr. Bloomberg and Mr. Adams was on full display in the months after Mr. Adams’s victory in the Democratic primary.

Mr. Bloomberg released a video backing Mr. Adams before the general election. A day after the endorsement, at a conference filled with the former mayor’s fellow billionaires, Mr. Adams declared that “New York will no longer be anti-business.”

“It was a reversal,” said Kathy Wylde, president of the Partnership for New York City, a business advocacy group. “He took Bloomberg as a mentor and embraced the policies that are most important to businesses and their employees.”

But since Mr. Adams was indicted on charges of bribery, conspiracy, fraud and soliciting improper foreign campaign donations, much of the business and labor community has fallen silent with worry. Mr. Adams appeared in a courtroom in Lower Manhattan on Friday and entered a plea of not guilty on five counts. Representatives for the city did not immediately respond to a request for comment.