WHEREAS, California is home to the most innovative and competitive firms in the world, placing the state consistently among the top 10 economies; and

WHEREAS, Small businesses embody the entrepreneurial spirit that has driven the economy of our state where over one-half of our private sector workforce is employed by small businesses; and

WHEREAS, In 2018, there were over 3,900,000 small businesses in this state, representing an overwhelming share of California’s workforce by employing more than 7,000,000 people; and

WHEREAS, The 70,350 small firms that exported goods from California generated 43 percent of the state’s $152 billion in total exports; and

WHEREAS, On a national basis, the 30,000,000 small businesses are responsible for creating nearly two out of three new jobs; and

WHEREAS, Small businesses are critical to the economic well-being of this state by creating new businesses and employment opportunities and by bringing new and innovative services and products to the marketplace; and

WHEREAS, Within the small business community, a growing number of these companies are being started and owned by women, people of color, and immigrants. In 2018, it was estimated that 1,600,000 small businesses were minority-owned; and

WHEREAS, The Governor has reaffirmed our commitment to California’s small businesses to thrive and prosper and that supporting small-scale private sector job creators is among our most promising strategies to enhance California’s human capital, expand job opportunities, and increase our competitive advantage in the global marketplace; now, therefore, be it