The California African American, Asian Pacific, and Hispanic Chambers of Commerce have once again partnered with Beacon Economics to deliver the 2024 report on the impact of diverse small businesses across the state. Building upon last year’s pioneering research, this updated report provides critical insights into the economic, fiscal, and social contributions of California’s minority-owned businesses. Despite significant challenges, such as systemic barriers to scaling and growth, these businesses remain an essential pillar of the state’s economy, contributing to employment, tax revenue, and overall economic output.