Governor Gavin Newsom has officially declared May 2026 as "Small Business Month" in California, recognizing the vital role these enterprises play in the state's economy and entrepreneurial landscape.
California boasts over 4.3 million small businesses, the highest number nationwide, employing more than 7.6 million people. These businesses are crucial for economic growth, wealth creation, and innovation, spanning sectors from high-tech to agriculture. The state also leads in business startups and attracts 62% of all U.S. venture capital funding.
The Governor's Office of Business and Economic Development, through the California Office of the Small Business Advocate and IBank, provides extensive support. Programs like Accelerate California have aided over 29,000 startups, while the SCALE program has helped create more than 105,000 jobs and deployed over $4.1 billion in equity capital. IBank's initiatives, including the Small Business Finance Center and Expanding Venture Capital Access, further support growth and inclusivity, creating or retaining 480,000 jobs and dedicating $250 million to underserved entrepreneurs.
Governor Newsom emphasized the global reach of California's economy, noting that small businesses contribute $70.1 billion annually to exports, accounting for over 40 percent of the state’s total. He said, "For our economy to maintain its strength, we must ensure that all Californians – no matter who they are or where they come from – can pursue their dreams to start, manage, and grow resilient businesses in this state." The proclamation underscores the ongoing commitment to making the "California Dream accessible to all."