Small Business Majority Applauds $2 Billion Investment in California Small Business Grant Program
Statement by Mark Herbert, Vice President of California for Small Business Majority, on Governor Gavin Newsom’s announcement today that the state will make additional investments in the state’s grant program for pandemic-impacted small businesses
(Sacramento, CA) — “We’re thrilled that Governor Newsom and state legislators have struck a deal that will quadruple the funds available for the California Small Business COVID-19 Grant Relief Program to $2 billion. Small Business Majority has been working tirelessly to educate small businesses about this program, and we know it has the potential to reach many more vulnerable small businesses across the state that desperately need grant assistance to keep their doors open.
This announcement comes at a critical time as small businesses in California continue to face financial hardships nearly a year into the pandemic. Our recent research found more than half of small businesses in California report their revenues are still down compared to this time last year and entrepreneurs of color are more likely to be facing permanent closure. What’s more, the majority of small businesses that laid off employees last year are still unable to restore their headcounts to pre-pandemic levels.
We know a robust and direct grant program is the best way to deliver relief to the hardest-hit small businesses and those owned by people of color, immigrants, and women who were left behind by federal emergency loan programs last year. We applaud state lawmakers for coming to an agreement on this robust investment, and we urge the legislature to pass this quickly.”
About Small Business Majority
Small Business Majority is a national small business organization that empowers America's diverse entrepreneurs to build a thriving and equitable economy. We engage our network of more than 80,000 small businesses and 1,000 business and community organizations to advocate for public policy solutions and deliver resources to entrepreneurs that promote equitable small business growth. Our deep connections with the small business community along with our scientific research enable us to educate the public about key issues impacting America’s entrepreneurs, with a special focus on advancing the smallest businesses and those facing systemic inequalities. Learn more about us on our website and follow us on Twitter, Facebook and Instagram.