Dr. Tara Lynn Gray, Director of the California Office of the Small Business Advocate (CalOSBA), presented to a full-house audience at the Greater Irvine Chamber’s Business Advocacy Speakers Series on Aug. 26.
Director Gray highlighted the critical role small businesses play in California’s economy, noting that they account for 99% of all businesses in the state and generate nearly all of the state's net new jobs. California leads the nation in several key small business metrics, making significant contributions to exports, job creation, and innovation. She emphasized that small businesses are not only the backbone of the economy, but also of their respective communities.
Additionally, Director Gray shared insights into CalOSBA’s mission to support small businesses by expanding access to capital, diversifying participation in the innovation economy, and driving economic mobility through entrepreneurship.
CalOSBA’s mission centers on three pillars: expanding access to capital, broadening participation in the innovation economy, and advancing economic mobility. In her remarks, Director Gray shared how initiatives such as disaster preparedness, procurement equity, innovation hubs, and capital access programs provide vital tools for small businesses to launch, grow, and succeed.
“It was an honor to welcome Director Gray to the Greater Irvine Chamber,” said Greater Irvine Chamber President & CEO Dave Coffaro. “Her visit provided our business community with valuable insight into resources that help companies thrive. The information she shared is not only beneficial to those who attended yesterday’s meeting, but also to the broader Orange County business community as they navigate challenges and opportunities ahead. We look forward to continuing and expanding collaboration with the Governor’s Office to ensure our business community remains connected, influential, and engaged in future programs and opportunities that support small businesses—benefiting companies of every size and scope.”
Director Gray shared other data points, including:
- Scale of Small Business in California
-
- Of the 4.3 million businesses in California, 99% are small businesses.
- 88% of those have fewer than 20 employees.
- Small businesses provide 7.6 million jobs.
- California has 1.5 million women-owned businesses, the most in the U.S.
- The State is working to expand participation of underrepresented groups in the innovation economy (venture capital, procurement, funding).
- Capital Access
-
- The Governor’s office has invested billions in small business relief and credit initiatives.
- The State’s SCALE Network (Success, Capital Access, and Leadership for Entrepreneurs) connects businesses to advisors, funding, and growth resources.
- Every $1 invested by the state yields $18 in loans and $23 in equity financing.
To learn more about the impact of California small businesses, CalOSBA, and available resources, visit calosba.ca.gov.
