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1.2 million
- Small businesses make up 99.8% of all California businesses, accounting for 7 million employees across the state. Of California’s 4.1 million small businesses, 1.2 million are minority owned.
calmatters.org/commentary/2021/04/california-lawmakers-must-commit-to-small-minority-owned-businesses/Lawmakers must commit to small, minority-owned businesses ...
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Oct 10, 2023 · Minority small businesses contribute nearly $193 billion in economic output per year, which is greater than the annual GDP of 18 U.S. states. Minority small businesses in California generate $28.7 billion in tax revenue each year.
Minority-owned small businesses contribute $414 billion to California's economy, accounting for 8% of the state's total economic output. Minority-owned small businesses in California support $169.88 billion in labor income, which includes employee compensation and proprietorship income .
Minority-owned small businesses are a pillar of the California economy. They account for 45% of all businesses in the state, support 10.9% of all jobs in the state annually, and generate 3.5% of California’s economic output. In general, small businesses create local jobs, increase market competition, and build communities.
Sep 9, 2020 · Data released through the Census Current Population Survey found that minority-owned businesses are disproportionately impacted: the number of active businesses owned by African-Americans dropped by 41%, Latinx by 32%, Asians by 25%, and immigrants by 36%.
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Oct 26, 2023 · California’s minority-owned businesses are a powerful asset to the state’s economy, generating $28.7 billion in tax revenue and supporting 2.6 million jobs annually, according to a new report issued earlier this month. The report also found that these minority-owned businesses contribute $192.8 billion in economic output, which is more than ...
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Net small business job change, self–employed minorities, and exporter share statistics are based on 2019 Business Employment Dynamics (BDM), 2018 American Community Survey (ACS), and 2018 International Trade Administration (ITA) data, respectively.
Relative to all nonemployer firms, women comprise 41% (10.9 million) of businesses without paid employees, with $300 billion in receipts and 32.7% (8.7 million) of businesses owned by minorities, with $306.1 billion in receipts.
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