WHEREAS, California is home to more than 4,100,000 small businesses, representing over 99 percent of all businesses in the state, and serving as the foundation of the world’s fourth largest economy; and

WHEREAS, Small businesses in California employ approximately 7,500,000 workers, nearly one-half of the state’s private workforce, driving innovation, creating jobs, and serving as vital pillars of local communities; and

WHEREAS, California’s dynamic and competitive economic environment, coupled with a robust regulatory framework focused on sustainability, equity, and consumer protection, positions small businesses to thrive in a forward-looking, innovation-led economy; and

WHEREAS, Small businesses in California have demonstrated exceptional resilience and adaptability, successfully navigating one of the most competitive landscapes in the nation, while continuing to lead in sectors such as clean energy, biotechnology, food innovation, and digital commerce; and

WHEREAS, The resilience and adaptability of small businesses have been demonstrated through their recovery efforts following the COVID-19 pandemic, natural disasters, and recent devastating wildfires, with many pivoting to meet new consumer needs and contributing to the state’s economic rebound; and

WHEREAS, Minority-owned small businesses contribute nearly $193 billion in economic output per year, supporting 2,500,000 jobs in California each year and generating $28.7 billion in tax revenue, which helps fund essential services such as education, infrastructure, and housing; and

WHEREAS, Small businesses play a crucial role in addressing affordability issues in California by creating local jobs, offering community-based services, reducing commute times, and contributing to more equitable economic development; and

WHEREAS, Forty-seven percent of California’s small businesses are owned by individuals from diverse racial and ethnic backgrounds, reinforcing the state’s commitment to inclusive economic opportunity; now, therefore, be it