- July 3, 2021
- Posted by: Stratford Team
- Category: Business
Small business decimation: California’s pandemic scar
A huge sector of the state’s economy, small businesses, seems to remain hopelessly stalled. In fact, the decimation of small businesses may be the defining historical economic scar on the Golden State.
SAN FRANCISCO – The addition of 850,000 jobs nationwide, including likely more than 100,000 here in California suggests that the recoveries of the state and nation are accelerating. But, a huge sector of the state’s economy, small businesses, seems to remain hopelessly stalled. In fact, the decimation of small businesses may be the defining historical economic scar on the Golden State.
Pre-pandemic, well over 99% of California businesses were small, employing less than 100 people. Nonetheless, small businesses accounted for the employment of almost half of California workers. That was before we lost tens of thousands of small businesses to the pandemic.
The latest numbers are grim according…
