Governor Gavin Newsome | Twitter Website
Governor Gavin Newsom has declared May 2025 as "Small Business Month" in California. The proclamation highlights the significant role small businesses play in the state's economy. With over 4.2 million small enterprises, California leads the nation in entrepreneurial ventures, driving economic growth and innovation.
The proclamation notes that small businesses make up more than 99.9% of all businesses in California and employ nearly half of the private sector workforce. In 2024, these businesses received more than 55% of national venture capital funding.
California is recognized for its high-tech industries, agriculture, and manufacturing output, producing more patents per capita and conducting extensive research and development compared to other states. The state's manufacturing firms have contributed to new industries, providing goods globally across sectors like aerospace and zero-emission vehicles.
Efforts to support small businesses include AB 2019, which aims for a state procurement spending goal of 25% on small enterprises. Additionally, programs such as the Small Business Technical Assistance Program help foster business resilience and growth.
The proclamation emphasizes the importance of expanding resources through initiatives like Accelerate California Inclusive Innovation Hubs, aiming to diversify the innovation economy and create quality jobs statewide. It also addresses global competitiveness with over 60,000 small businesses exporting worldwide.
Governor Newsom's statement concludes by recognizing the contributions of small businesses to California's economy: “Our small businesses are global leaders in innovation and economic competitiveness... This month, we recognize the tremendous contributions of our small businesses.”
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