Small businesses drive California’s economy, and the data is now in from the first year of a program that offers free business coaching.
The SCALE program – which stands for “success, capital, access and leadership for entrepreneurs” – is a statewide initiative created by the California Office of the Small Business Advocate. SCALE has helped 6,800 entrepreneurs so far.
“Through SCALE, small business owners can access one-on-one business coaching at no cost,” said Carolina Martinez, CEO of the CAMEO Network, which helps administer the program. “They can get help preparing loan applications and personalized support in finding the right financing products for their goals.”
Martinez noted that California is home to more than 4 million small businesses that employ 7.8 million people, which represents almost half of all employees in the state. Small business owners can connect with one of 70 organizations statewide that are ready to help via the SCALE online portal.
Amaya Harrison recently launched Sage and Silver Studios, a photography and creative space in Sacramento. She worked with two SCALE grantees, the Alliance for Community Development and Working Solutions CDFI to get her financing in place – and has this advice.
“Although there are so many steps to getting your business started, there is help out there,” she said. “Get in touch with organizations like this so that you can be set up for success from the very beginning.”
Many small business owners struggle to get a startup loan. Data show that last year, just over half of small businesses that applied for financing received the full amount of funding they applied for. And Black and Latino entrepreneurs are rejected for funding much more often than their white counterparts.
