(CBM) – Most small businesses in California are very small. A whopping 95 % of them are companies with less than 50 employees, according to the Public Policy Institute of California. Yet, these businesses employ a majority of workers in the state – up to an estimated 75 % of the labor force.
But, for most official purposes, California defines a small business as a company with up to 750,000 employees. They span a range of sizes and budgets. They can be multi-million-dollar outfits, or companies with a handful, or hundreds, or even tens of thousands of employees. Many of them are even publicly traded.
Among African American small businesses, though, companies with only one employee – who is the owner and operator – make up 95% of Black businesses across the United States. The trend in California reflects that number, too.
“If you look at the numbers
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