Press Release: Governor Newsom Signs Assembly Bill 258 into Law

Democratizing State Resources to Empower Minority-Owned Businesses in California

SACRAMENTO, CALIF. (October 11, 2023) — The California Asian Pacific, African American and Hispanic Chambers of Commerce celebrated a significant legislative win for California’s small business community – the Small Business Information Act, Assembly Bill (AB) 258, authored by Assembly Majority Leader Emeritus Eloise Reyes, was signed into law by Governor Gavin Newsom over the weekend.

“I introduced AB 258 after listening to my local small businesses to understand how to best serve them. We heard loud and clear that streamlined access to resources like state grants are a priority, and I’m thrilled that Governor Newsom agreed, signing legislation into law that will create the Small Business Portal to support small businesses in the Inland Empire and across California,” said Reyes. “I want to express my gratitude to my colleagues in the Legislature and the California Asian Pacific, African American, and Hispanic Chambers of Commerce for their unwavering support in this effort.”

“Small businesses need to have information easily accessible and know what tools may be available to them – information that can help small business owners make decisions to be successful and grow” said Julian Cañete, President of the California Hispanic Chambers of Commerce. “Creating easier access to these various vital tools is what AB 258 will do. Thank you to Governor Newsom for your signature.”

AB 258 will make necessary improvements to support minority-owned businesses and will improve accessibility to state resources for the communities that need it most. Many small businesses in California who are looking to partner with the state do not have the technical expertise to navigate the necessary state processes such as access to technical assistance, the procurement process, and locating grants. Democratizing and illuminating state processes will provide small businesses more opportunities to grow and ensure public resources are reaching the hardest-hit communities.

“We commend the Governor’s approval of AB 258, a crucial step to support small businesses” said Ahmad Holmes, Chief Operating Officer at the California African American Chamber of Commerce (CAACC). “As co-sponsors, CAACC is proud to unite with our partners in creating a more accessible business environment. AB 258’s Go-Biz web portal will benefit minority entrepreneurs by streamlining access to essential resources. This legislation highlights our commitment to economic growth and equity in California. We thank Assemblywoman Eloise Reyes for her leadership and look forward to empowering businesses and promoting economic equity.”

Pat Fong Kushida, President & CEO of the CalAsian Chamber shared, “Our deepest gratitude and appreciation go out to Assembly Majority Leader Emeritus Eloise Reyes, for her commitment in ensuring that California’s small businesses have an equal seat at the table. And to our partners at the California African American and Hispanic Chambers of Commerce – our collective voices have truly made a difference and small businesses up and down the state will have unprecedented opportunities.”

“We applaud Governor Newsom for signing AB 258 and recognizing the small business owners that play a critical role in our economy” said Kushida. “This bill will bring us one step closer to eliminating the accessibility gap and providing the diverse small business community with equal opportunities.”

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About the California Asian Pacific Chamber of Commerce

The California Asian Pacific Chamber of Commerce (CalAsian Chamber) was founded in 2010 to give a voice to the more than 754,000 AAPI- owned businesses in California. Today, CalAsian is the largest statewide ethnic chamber in the state and operates three federal business centers, dozens of programs providing technical and financial assistance to small businesses, and a foundation offering leadership and workforce development programs. Learn more at calasiancc.org

About the California African American Chamber of Commerce

As California’s largest statewide African-American Chamber organization, the California African-American Chamber of Commerce (CAACC) aims to drive economic opportunity and wealth creation for African-American businesses. We aim to connect and harness the collective strength of our statewide network of member organizations to elevate our fiscal health, fostering growth and prosperity for all. Learn more at calaacc.org

About the California Hispanic Chambers of Commerce

The California Hispanic Chambers of Commerce (CHCC) represents over 815,000 Latino-owned businesses in California generating over $100 billion in annual revenue, over 670,000 jobs, and $25 billion in payroll income for the state of California. Learn more at cahcc.com