• Personal
  • Business
  • About
  • Locations
  • Contact
  • Privacy
California Bank & Trust
  • personal
    • Home
    • Bank
      • Checking Compare
        • Anytime Checking
        • Anytime Interest Checking
        • Premium Interest Checking
        • Senior Advantage Checking
        • Debit Cards
        • Order Checks
        • Statement Options
        • Money Reserve
        Savings and Money Market Compare
        • Savings Account
        • Young Savers Account
        • Money Market Account
        • Certificates of Deposit (CDs)
        • Individual Retirement Account (IRA)
        • Safe Deposit Box
        Online and Mobile Banking
        • Online Banking
        • Mobile Banking
        • Mobile Deposit
        • Mobile Payments
        • Zelle
        Specialized Services
        • 1031 Exchange Services
        • Foreign Currency
        • Servicemembers Civil Relief Act
    • Borrow
      • Credit Cards Compare
        • Cash Back Card
        • Rewards Card
        • Low Rate Card
        • Premier Card
        • Elite Card
        • Reserve Card
        Mortgages
        • Apply Now
        • Check Application Status
        • Manage Your Loan
        • Mortgage Loan Types
        • Find a Mortgage Consultant
        • Mortgage Resources
        Home Equity Lines of Credit
        Auto, Boat and RV Loans
        Personal Loans and Lines of Credit
    • Wealth
      • Private Banking
        • Deposit Solutions
        • Private Mortgage
        • Securities-Based Lending (ILOC)
        • Lending Solutions
        Wealth Management
        • Wealth Planning
        • Investment Management
        • Trust Services
        • Insurance
        Trends and insights
        • Educational Webinars
        • Market Insights
        • Business Blog
        • Business eNewsletter
        • Family Business eNewsletter
    • Resources
      • Account Safety
        • Mobile Card Fraud Alerts
        • EMV Chip Technology
        • Identity Theft
        Trends and insights
        • Educational Webinars
        • Market Insights
        • Business Blog
        • Business eNewsletter
        • Family Business eNewsletter
        Forms and Agreements
        • Agreement Center
        • Foreign Status Documents
        Overdraft Protection
        Calculators
        FAQs
        Routing / SWIFT Numbers
        Bank Holidays
  • business
    • Home
    • Bank
      • Checking Compare
        • Business Inspire Checking
        • Business Growth Checking
        • Business Interest Checking
        • Business Connect Checking
        • Business Analyzed Checking
        • Community Checking
        • Attorney Client Checking
        • Debit Cards
        • Order Checks
        • Statement Options
        Savings and Money Market Compare
        • Business Savings
        • Business Money Market
        • Business Money Market Sweep
        • Business CD/Business Jumbo CD
        • Safe Deposit Box
        Account Access Solutions
        • Online Banking
        • Mobile Banking
        • Mobile Deposit
        • Mobile Payments
        Specialized Services
        • 1031 Exchange Services
        • Foreign Exchange Solutions
        • Treasury Management Select
    • Borrow
      • Credit Cards Compare
        • Cash Back Card
        • Rewards Card
        • Low Rate Card
        • Commercial Card
        Loans and Lines of Credit
        • Business Access Online Loans Under $175,000
        • Lines of Credit
        • Term Loans
        • Equipment Financing & Leasing
        • Small Business Administration (SBA) Loans
        • Acquisition Financing
        • Asset-Based Financing
        • Factoring
        Real Estate Financing
        • Owner-Occupied Real Estate Financing
        • Multi-Family and Commercial Financing
        • Residential Development
        Specialty Financing
        • Employee Stock Ownership Plans
        • Loan Syndications
        • Public Finance
        • Power and Project Finance
        • Municipal Underwriting
        Global Banking
        • Foreign Exchange Solutions
        • Foreign Currency Services
        • Global Trade Solutions
        • Trade Portal
    • Treasury
      • Information Management
        • Treasury Internet Banking
        • Mobile Banking
        • Image Services
        • Account Reconciliation
        • Return Items Web Delivery
        Receivables Solutions
        • Merchant Services
        • Remote Deposit Capture
        • E-Invoicing and Payments
        • Cash Vault
        • LockBox
        • ACH Collections
        Payables Solutions
        • ACH Disbursements
        • Outsourced Disbursement
        • Invoice-to-Pay
        • Electronic Funds Transfers
        • Commercial Card
        • Controlled Disbursements
        • Payroll Cards
        • Zero Balance Accounts
        • remitONE® Tax Payments
        Fraud Prevention Services
        • Positive Pay
        • Mobile Card Fraud Alerts
        • Check Block
        Capital Management
        • Investment Sweep
        • Loan Sweep
    • Resources
      • Fraud Prevention
        • Facing Fraud Today
        • Fraud Prevention Strategies
        • Layered Defense Approach
        • Business Email Compromise
        • Wire Fraud Prevention Tips
        • Online Fraud Prevention Tips
        • Identity Theft
        • Merchant Services Fraud Prevention
        Trends and insights
        • Educational Webinars
        • Market Insights
        • Business Blog
        • Business eNewsletter
        • Family Business eNewsletter
        Industry Expertise
        • Family-Owned Businesses
        • Women and Minority-Owned Businesses
        • Nonprofit Banking and Financing
        • Municipal Finance and Government Banking
        • Specialty Deposits
        Forms and Agreements
        • Agreement Center
        Business Complete
        Overdraft Protection
        Beneficial Ownership
        Calculators
        Bank-Owned Properties
        FAQs
        Routing / SWIFT Numbers
        Bank Holidays

What Can We Help You Find?

The Golden State of Entrepreneurship

April 25, 2019

From May 5-11, the Small Business Administration (SBA) will hold its National Small Business Week, an annual event recognizing the economic and social contributions of the more than 30 million organizations that make up America’s small business community.

More than ten percent of these—3.9 million as of last year, according to the SBA’s count—are based right here in The Golden State, making California one of the best states for small businesses.

What makes California such fertile ground for entrepreneurship? History. The state has always been a place of opportunity with forward thinkers and visionary businesses going back, it seems, more than 150 years. This pioneering spirit traces its origins all the way back to the middle of the 19th century, to the start of the California Gold Rush.

It started at Sutter’s Mill

When gold was discovered at Sutter’s Mill, east of Sacramento, a steady stream of fortune-seekers from all over the country began to pour into the state, hoping to strike it rich. Soon, an entire crop of small industries sprang up to serve the needs of this early boomtown. While most prospectors never reaped the wealth they envisioned, many of the businesses created in that period—Levi’s jeans, for example—struck proverbial gold and grew.

Moving into the 20th century, the growth of the burgeoning film industry, which became emblematic of California, coincided with expanding agriculture and oil industries, the latter of which fostered rapid adoption of the automobile. The ever-expanding population fueled steady growth through the 1950s, and in the 1980s Silicon Valley emerged as a hotbed for technological innovations that helped create the digital world we know now.

Today, California boasts the fifth-largest economy in the world—larger than that of many countries, including the UK. It is home to some of the best-rated cities in the nation for small enterprise. According to a study last year, Los Angeles, Riverside, San Francisco, Sacramento and San Jose all make the list of the top ten cities for small business success, with strong technology and service sectors providing a foundation for the local economies. Great weather, a large, well-trained workforce, natural resources and accessible local, regional and global markets all position California as a welcoming place for aspiring businesspeople.

Best California small businesses

Want to open a California small business of your own? There are many viable options to consider, many of which extend beyond the obvious. Apart from the state’s famous concentration of tech startups, the related e-commerce and electronics segments form the basis for thousands of companies. California is a  friendly market for alternative energy-related business activity as well, leading the movement to incorporate renewables. As a result, the solar and wind energy industries are creating space for motivated upstart enterprises to fill.

For those interested in consumer trends, some of the world’s most popular shoe companies are headquartered here and given the state’s penchant for Hollywood glamour, the beauty industry is a thriving component of the economy. You may not know it, but California’s large population also supports strong educational industries, providing instruction in fine arts, athletics, language and dance supplemented by non-instructional educational support businesses like counseling, testing and curriculum development.

Keys to success

Like anything worth doing, starting a small business involves a degree of risk. Having a solid plan and staying grounded in the basics can help a small business survive and thrive. Start with these elements to incorporate and innovate:

  • Strategy
    Strong businesses begin with a strategic focus, both in terms of a pre-launch business plan and a plan to market the selected offerings. In either case, consistency of vision is key. Learn as much as possible about your target market and be sure you’re up-to-speed with a product or service, a message and a mechanism to win over your audience in a consistent, mutually beneficial way.
  • Team Building
    Small businesses, especially startups, require special qualities in their employees. Finding the right talent involves more than simply hiring qualified people. Skills are important, of course, but if your team members are not fully committed to your business’s vision, and if they cannot function properly as a unit, it can be difficult to push ahead. Take advantage of California’s can-do mindset to motivate, resolve conflict, foster initiative and encourage continuous improvement.
  • Quality
    One of the main factors that still sets successful small businesses apart is quality service, and it is one of the best ways to turn first-time customers into regulars. The first step is clearly identifying the need your product or service satisfies in the market. With this in mind, you can strategize ways for your product or service to add value for your customers. In typical California fashion, look for unmet needs in the market that can be provided efficiently online or can be offered with highly personalized service.
  • Volume
    This may not be your greatest consideration when starting out, but a successful strategy for growth and stability needs to include methods for increasing sales. This type of growth is the litmus test for marketing efforts and product quality, so always plan with an eye to not just becoming profitable but to expanding for the future.

As we celebrate National Small Business Week, remember that the lifeblood of any small business is having access to reliable capital to get the business off the ground. California Bank & Trust is a lender that understands and is dedicated to the state’s small businesses. If you’re considering a startup, find and work with one of CB&T’s experienced banking specialists who can help you plan those first steps. Or start here for help launching or expanding your business in California.[cite::171::cite] [cite::172::cite]

Small Business,
Business,
Business Planning,
California,

Most Popular

What are the financing requirements for owner-occupied commercial real estate?

Should you buy or lease property for your business?

Help Safeguard Your Business From Payments Fraud

The Case for Making the Switch to ACH Payments

Most Recent

CB&T’s commitment to our clients with the Paycheck Protection Program

Is now the time to buy or refinance?

12 Days of Holiday Fraud Prevention

Retail Trends for the 2020 Holiday Season

Disclosures

FOLLOW US: #calbt

  • About
  • Locations
  • Contact
  • FAQs
  • Careers
  • Agreement Center
  • Sitemap
  • Routing / SWIFT Numbers
  • Privacy Policy
  • Online Privacy Statement
  • Online Banking
  • Data Collection and Rights
  • Do Not Sell My Personal Information

SUBSCRIBE TO OUR BUSINESS E-NEWSLETTER

California Bank & Trust, a division of Zions Bancorporation, N.A. Member FDIC

Equal Housing Lender | NMLS #467014

© 2021 Zions Bancorporation, N.A. All rights reserved.