California is the nation’s leader when it comes to the largest economy and local market of all states. A suprising fact is that small businesses make up a HUGE part of this economy. To get a better idea of exactly what I’m talking about we can take a look at the statistics compiled by The Small Business Administration Office Of Advocacy (SBA). The SBA creates an annual profile for each state regarding the statistics of small businesses.
Statistical Reports Of Small Business
- 95.9% of California export services are comprised of small business owners
- 49.2 % of people employed in the state of California are employed by small businesses
- 99.8% of California businesses are small businesses
- Each year 197,352 are created by small businesses in the state of California
- 9 in every 100 women is the owner of one of these small businesses
- 10 out of every 100 minorities also owns a small business
- 13 out of every 100 veterans is a small business owner
If looked at, small business dominance per industry, construction dominates its industry market with 84% of construction businesses being a small business
Although the small businesses statistics for California look a lot better than many other states they still have their battles. In fact the cost of living and the cost of doing business in California is at a all time high, making it to the bottom of the list of most affordable places to live. That alone is a definite struggle for small business owners along with the mixed taxes that are required per business. There is light at the end of this tunnel however. Available to small business owners is the SBA 504 Loan. A loan to help small business owners get there business off the ground when capital can be somewhat of an issue.
SBA 504 Loan Info
- Administered by Certified Development Companies (CDC)
- CDC helps to pair you with a conventional lender
- Conventional lender will pay up to 50% or more of total
Small businesses may face a lot of uphill battles, but here in the state of California we have economical advantages. If you are trying to start a small business and couple those economical advantages with the different resources available you have a great chance of succeeding in carrying out your businesses vision. We all have to start somewhere. Acton supports all of those in the state of California as well as all other states in succeeding in small business. After alll small businesses are owned by those that are just like us. People supporting families and wishing to carry out their dream. Let’s support eachother!