A virtual “Open House” will take place in the first week of October to give an overview of the California Office of the Small Business Advocate (CalOSBA)‘s mission and a walkthrough of other programs. You will get a tailored explanation of why Governor Newsom’s administration prioritizes supporting small businesses.
- Don’t forget to join the California Office of the Small Business Advocate’s virtual open house so you can find out about its new services and programs available exclusively for small businesses in California! These resources can help your business grow.
- Startempire Wire encourages you to attend this event to learn more about CalOSBA’s contribution to boosting economic activity in the state.
We Covered this in our Weekly Wire Roundup
Startups or Small Businesses in California
For California’s small companies, the COVID-19 epidemic and efforts to stop the virus’s spread have offered challenging hurdles. Small companies have stepped up to safeguard their staff and customers with innovations. Yet, many have stopped operating or have delayed their operations and faced the possibility of permanent closure.
Between February and May, the number of active company owners in the United States decreased by 15%, according to the Stanford Institute for Economic Policy Research. The decline is almost twice as significant for Black-owned and operated firms at 26%. Latinx, Asian, and immigrant company owners observed more significant decreases than the national average.
In direct response to the crisis, California drastically ramped up its expenditure on small business support. The $4 billion that Governor Newsom invested in the Small Business COVID-19 Relief Grant program, the California Venues Grant Program, and the California Nonprofit Performing Arts Grant Program serve as the primary illustration.
The same year, CaIOSBA launched three other small company aid initiatives, including the $35 million Dream Fund award program.
Instability in the labor market, rising interest rates, the supply chain, and inflation-despite all of this, California company owners continue to rise to the challenge. The Newsom administration keeps up with them by responding quickly with resources to help.
Best State for Entrepreneurs: California
California outperformed the national average since 2011, including throughout the COVID-19 crisis, and ranked first in that category based on the rate of new entrepreneurs, the number of micro-businesses operating in the center (0–5 employees), and, most importantly, a strong survival rate.
The above graphs show that compared to 78.1% of ventures nationwide, 81.8% of startups in California lasted at least one year in 2020.
Other CalOSBA Stories
Think of this virtual open house hosted by CaIOSBA as a chance to get to know the programs and how they may be able to help California small businesses. Individuals will get answers to questions with more information about the government’s efforts for small businesses.