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Celebrate California Small Business Day

 A standby letter of credit can help your business grow

Small businesses in California receive some well-deserved recognition Monday, June 5 with a celebration of California Small Business Day. California legislators honor outstanding small businesses from their districts as government officials, small business organizations and small business owners come together to recognize the vital role that small businesses play in California's economy. It's a day for small business owners to connect in Sacramento with government agencies, elected officials and businesses that can help them succeed and grow.

The importance of small businesses

Small firms keep California's economy going—they make up 92 percent of all businesses in California. The state's 3.8 million small companies employ 6.8 million people—almost half the state's private workforce, according to the U.S. Small Business Administration (SBA). Small businesses keep innovation alive, too. They can leverage their size to out-innovate larger firms, as this Entrepreneur article explains. Their close relationships with customers allow them to identify customers' needs and their size makes them nimble enough to respond speedily. The SBA offers programs to encourage innovation from small businesses.

In hard economic times, small businesses—and especially one-person firms—often act as an economic engine. From 2008 to 2010, during the Great Recession, the number of self-employed Californians grew from 2.6 million to 2.8 million, with revenues increasing from $137 billion to $138 billion during those years, according to the California Committee on Jobs, Economic Development, and the Economy.

Ready to help your small business succeed

As a small business owner, you have a wealth of resources available to help you achieve your business goals.

  • Check the California State Board of Equalization's calendar of small business events for seminars, workshops, expos and more that can help your business succeed.
  • Small Business Majority, a small business advocacy group, also lists California events for small businesses.
  • California gives preference to small businesses in its procurement process through the Small Business and Disabled Veteran Business Enterprise program. Check its events calendar for education and business opportunity enhancement events near you.

Proud to serve you

At California Bank & Trust, we're proud to work with California small businesses. We work closely with business leaders in our local communities to keep small businesses growing. See us for a complete line of business banking products and services. And visit our Business Resource Center for material that can help inform and inspire you to grow your business.

Small businesses, we salute you!

 
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The information contained herein may not represent the views and opinions of California Bank & Trust, a division of ZB, N.A. or its affiliates. It is presented for general informational purposes only and does not constitute tax, legal or business advice.
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