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Friday, February 23, 2024

Proclaim this May as Small Business Month

The Governor Gavin Newsom issued a proclamation Monday declaring May 2023 as "Small Business Month" in the state of California.

The decree specifies that the California economy has more than 4.2 million small businesses, a figure that exceeds any other state. 

“Small businesses and entrepreneurs accelerate economic growth and mobility in California, creating two-thirds of net new jobs, creating wealth, innovating to solve global problems, launching future growth industries, bringing diversity to our economy, and defining high streets. in our local communities," Newsom said in the text.

And it is that, small businesses in California represent more than 99 percent of all businesses in the state and employ more than 7 million people, almost half of the state's private sector workforce. 

"Our small businesses are world leaders in innovation and economic competitiveness, embodying the entrepreneurial spirit that drives the Golden State's economy," the governor added.

California leads the nation in start-ups, growing 20 percent annually from 2019 to 2020, receiving more than 50 percent of the nation's venture capital, and producing more patents per capita, research and development than any other another state in the country.

California is the center of manufacturing production in the United States, with more than 35,000 manufacturing companies that employ more than 1.2 million Californians. 

Newsom noted that the state's manufacturing companies have created new industries and supplied the world with manufactured goods spanning aerospace, computers and electronics, and more recently, zero-emission vehicles.

"For our economy to maintain global leadership, we must ensure that all Californians, no matter who they are or where they come from, can pursue their dreams of starting, running and growing resilient businesses in the Golden State," he said.

He also explained that California continues to make historic investments to support diversity, equity and an inclusive economy. 

In this regard, he recalled that the AB 2019 law, enacted in 2022, seeks innovative ways to increase diversity in state contracting and codifies a goal of 25 percent participation of small businesses in contracting. Extended indefinitely into 2022, the Small Business Technical Assistance Program supports underserved small businesses and entrepreneurs so they can start, grow, and be resilient in California.

On the other hand, he pointed out that the state has renewed the Accelerate California program to help expand the technological ecosystem to include more diverse founders, support new technological sectors, boost growth and create high-quality jobs in regions beyond the coast. “Our small businesses are constantly adapting to an evolving marketplace, integrating technology at a higher rate than ever before, and developing innovative ways to connect with customers. This month, we recognize the tremendous success of our small businesses and their contributions to California's economy. We affirm our commitment to helping California small businesses prosper and, above all, we are committed to ensuring that the California Dream is a reality for all."

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Pamela Cruz
Pamela Cruz
Editor-in-Chief of Peninsula 360 Press. A communicologist by profession, but a journalist and writer by conviction, with more than 10 years of media experience. Specialized in medical and scientific journalism at Harvard and winner of the International Visitors Leadership Program scholarship from the U.S. government.


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