(CBM) – Last week, Assemblymember David Chiu (D-San Francisco) introduced the Economic Equity First Act of 2021, also known as Assembly Bill 915. The legislation is proposing measures to ensure fair opportunities for minority-owned small businesses in state contracting and procurement.
Under AB 915, all state agencies, departments, boards, and commissions would be mandated to achieve a minimum goal of 25% participation for minority businesses, which include Black-owned, women-owned and disabled veteran-owned firms in state procurement and contracts.
“Our small businesses, particularly minority-owned small businesses, have been hit especially hard by the pandemic,” said Assemblymember David Chiu (D-San Francisco). “This bill uses the state’s enormous purchasing power to help uplift our small businesses when they need it most.”
The legislation is based on the recognition that small businesses makeup 99.8% of all California private sector companies, and they make a significant contribution to the
Click to read the full article @San Francisco Bay View