Funding Restored for Small Business Assistance Program
7/19/2024 | 2mVideo has Closed Captions
The state-funded Small Business Technical Assistance Program retains its $23 million funding.
The state-funded Small Business Technical Assistance Program, which helps with financing, marketing, accounting, and social media skills, faced potential budget cuts due to California's budget deficit. However, the revised budget has restored its full annual funding of $23 million.
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SoCal Matters is a local public television program presented by PBS SoCal
Funding Restored for Small Business Assistance Program
7/19/2024 | 2mVideo has Closed Captions
The state-funded Small Business Technical Assistance Program, which helps with financing, marketing, accounting, and social media skills, faced potential budget cuts due to California's budget deficit. However, the revised budget has restored its full annual funding of $23 million.
Problems playing video? | Closed Captioning Feedback
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Learn Moreabout PBS online sponsorship-This is Rodnia Attiq.
She's the owner of El Borrego, a restaurant in San Diego.
She's counting on the help she received from APEX Accelerators to land a big client, the U.S. Coast Guard, which is seeking a small business to serve food seven days a week at its station in San Diego.
Small business owners such as Attiq have used state-funded programs that help them with financing, marketing, accounting, social media skills, and more.
-We were able, with the help of this organization, to get through the process.
A process that we could do maybe in six months, we did it in a couple of weeks.
-APEX Accelerators and other small business development centers, such as the Renaissance Center, received some state funds through the Small Business Technical Assistance Program, whose funding was in danger of being slashed by more than half, or $13 million, because of the state's massive budget deficit.
Governor Gavin Newsom was looking to cut costs where he could, but small business owners and advocates urged state lawmakers to reject cuts to the program, so they did.
The revised budget the governor and lawmakers agreed on recently restored the program's full annual $23 million in funding.
According to the Public Policy Institute of California, more than 90% of businesses in the state employ fewer than 10 employees.
For Attiq, the program was a big help in allowing her business to compete for the Coast Guard contract.
-It's going to be a huge change.
It's going to change completely the way that we are doing business to be there.
We are really looking forward and expecting to have an award on that proposal.
-For CalMatters, I'm Levi Sumagaysay.
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SoCal Matters is a local public television program presented by PBS SoCal