Advantages to Start a Small Business in California

According to the official statistics, California had the largest and most resilient economy in the United State in 2011. California contributes to 13% of the GDP of the United States. Also, it is one of the fastest growing States.

According to a survey conducted in 2012 by Bloomberg Business Week on America’s best cities, California topped among the 10 best places.

California: A place for growing labor and employment
California had the fastest job growth in a time span of just 11 years. It had seen more than half a million jobs in non-agricultural sector, beginning from September 2009 onwards. Private sector in California has performed the best job growth since March 2001, accounting for 3, 65, 000 jobs.

There are about 3.4 million small businesses that constitute 99% of the total number of employers in the state, accounting for 52% share in the workforce. California tops as agricultural revenue bringer with a contribution of $34.8 billion to the total revenue from the sector.

Growing economy
According to official statistics, small and medium-sized business generated 44% California’s total exports in 2007.

Government of California is offering different incentives to businesses that include employment training panel (ETP), workforce development, community college system, university system, California’s innovation hub programme, California state trade and export promotion programme and multiple tax incentives.

Employment training
Under the existing rules, a company is eligible for a contract with ETP to help assist with reimburse the cost of training after hiring. If the proposed training meets ETP’s standards, a contract is developed.

Developing workforce
Workforce is important asset for any company. Therefore, it’s important to focus their growth. The employment development dept with the help of local workforce investment area, may assist in recruiting, screening, testing, evaluating and selecting qualified employees.

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