California must recognize diverse small-business owners — unseen equals unvalued

Forty-five percent.

That’s the slice of the small business pie owned by Hispanics or racial minorities in California. Considering that California’s 4.2 million small businesses provide nearly half of all the private sector jobs in the state, it seems like a pretty important group to understand.

That’s why it’s odd that a recent report commissioned by my office, “The State of Diverse Businesses in California,” is the first time that the State of California has taken a deep, quantitative look at these businesses.

The 108-page economic report studies businesses owned by Asians, Hispanics, African Americans and Native Americans and details the makeup and economic, fiscal and social impact of these diverse small firms in California.

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