CA's Inaugural Report on State of Diverse Small Businesses Unveiled

The California Office of the Small Business Advocate (CalOSBA) unveiled California’s inaugural report on the impact of diverse small businesses last week.  Commissioned in alignment with Governor Newsom’s 2022 equity-focused executive order, the study highlights minority business’s significant economic, fiscal, and community impact across the state.  Findings indicate minority-owned enterprises generate nearly $193 billion annually, supporting over 2.5 million jobs. 

The report, organized by the California African American, California Asian Pacific, and California Hispanic Chambers of Commerce, Small Business Majority, and Beacon Economics, the new report aims to enhance understanding, support, and advocacy for these businesses, bringing to light their critical role in California’s economy and communities.  To access the executive summary and full report, please visit calosba.ca.gov/about/publications or beaconecon.com

For more information about CAACC, visit the website calaacc.org