Governor Gavin Newsom recently issued a proclamation declaring May 2021, as “Small Business Month” in the State of California.
Last week, Governor Newsom signed legislation providing small businesses hit hardest by the pandemic a $6.2 billion tax cut over the next six years, an important component of California’s economic recovery strategy.
The text of the proclamation can be found here and a copy is below:
California is the fifth largest economy in the world and has more than 4 million small businesses – more than any other state. Small businesses and entrepreneurs accelerate economic growth and mobility in California, creating two-thirds of net new jobs and employing nearly half of all private sector employees. These businesses are building wealth, innovating to solve global problems, launching future growth industries and creating main streets in our local communities. Our small businesses are global leaders in innovation and economic competitiveness and embody the
entrepreneurial spirit that drives the economy of the Golden State.
COVID-19 has brought about unprecedented challenges for our small businesses and caused great financial hardships. These businesses are critical to the state’s economy and have a vital role in helping us get through this pandemic. As a former small business owner, I understand firsthand the risk and rewards that come with following the entrepreneurial path. My Administration is committed to helping small businesses come back stronger.
California is taking action to help small businesses become more resilient, recover from the pandemic and thrive. Just last month, in partnership with the Legislature, we took action to keep money in the hands of the hardest
hit small businesses with a total of $6.2 billion in tax cuts. In February, I signed an immediate action package that provided an additional $2 billion for COVID-19 grants of up to $25,000 and license renewal fee waivers for two
years to approximately 59,000 businesses. In order for our economy to continue on the path to recovery and maintain global leadership, we must ensure that Californians can pursue their dream to start, manage and grow
businesses in our state.
Today and throughout the month of May, we recognize the resilience and immense contributions of our small businesses to the California economy. We affirm our commitment to helping California’s small businesses recover
from the pandemic and, above all, we commit to ensuring that the California dream remains accessible to all.
NOW THEREFORE I, GAVIN NEWSOM, Governor of the State of California, do hereby proclaim May 2021, as “Small Business Month.”