As many of you know, Small Business California is a big fan of the California Small Business Development program. As such, Small Business California has done a lot of Advocacy for the program over the years. The SBDC works with about 50,000 small and medium sized firms throughout the state each year and they do a great job keeping the focus on activities that impact California's economy.
This past June, the SBDC completed Year 2 of an Access to Capital program funded by the Governor's Office of Economic and Business Development (GO-Biz). For the year July 2015 through June 2016 with only $2 million in funding from the state, they helped secure over $208 million in capital for the businesses they serve. That is not a typo $208 million.
In the year July 2014 to July 2015 they received $2 million statewide and secured $2 million in capital.
Interestingly, California cut their funding by 25% for July 2016 to 2017 to $1.5 million. Other states put a lot more resources towards this powerhouse program-- leveraging the SBDC's federal funds in the process.
What is really distressing is that there is no assurance that any of this funding will be continued in the July 2017 to June 2018.
I applaud Go Biz for their past funding but this must be continued in the July 2017 through June 2018 year and beyond. I would ask all of you to send an email to Panorea Avids the head of Go Biz.
Her email is Panorea.Avids@GOV.CA.GOV. Tell her how helpful this is for hundreds of California’s small businesses and how provides an incredible rate of return on California’s investment.
It is time for small businesses around the state to have their voices heard.
Small Business California
2311 Taraval Street
San Francisco, CA 94116