Small Business drives our local and state economies, a fact recognized by Governor Newsom last week when he issued a proclamation declaring May 2019 Small Business Month in California.
California’s small businesses employ over 7 million people, and most have less than 100 employees. According to recent studies, small businesses make up over 95% of all businesses in this region, with businesses employing 4 or less employees comprising 65% of the total. Over the past two years, almost three-quarters of all local companies experienced growth, and 85% expect to continue growing. This appears to buck the national trend, since almost 50% of small businesses in the U.S. fail in the first five years.
As might be expected in an economy based on small business, entrepreneurship is expanding. About one in 200 adults in our region is an entrepreneur, and in 2017 our region had the nation’s fourth-highest rate of entrepreneurs. From manufacturing to tourism, service industries to breweries and wineries, this region’s economy is based on its thriving small businesses sector.
As the owner of my own small business, I know how hard it is to be an entrepreneur in California. Supporting our small businesses that struggle with burdensome regulations, taxes and fees while still managing to employ thousands of our residents, is an ongoing battle that’s worth waging. Over the years I have supported a long list of legislation to stimulate business formation and provide greater employment opportunities, more work-force training and greater job growth.
I am very proud that the National Federation of Independent Businesses recognized me as a “Guardian of Small Business” earlier this year. As always, I will continue to support small businesses, and to serve as your voice in Sacramento.
Assembly Republican Leader Marie Waldron, R-Escondido, represents the 75th Assembly District in the California Legislature, which includes the communities of Bonsall, Escondido, Fallbrook, Hidden Meadows, Pala, Palomar Mountain, Pauma Valley, Rainbow, San Marcos, Temecula, Valley Center and Vista.