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Microbusinesses tend to add the most jobs and keep them. In the depths of the recession, they added jobs even when other larger businesses shed them.
Small businesses are driving California?s economic recovery, according to a new chart released this week by an industry advocacy group.
Small Business California found that businesses with less than five employees, known as microbusinesses, were the state?s main engine of job growth between 2003 and 2010. These firms added 719,729 positions over that time period, while all other small businesses lost a combined 460,368 jobs during the same time.
California?s microbusinesses added jobs even during the depths of the recent recession, creating 120,818 positions between 2008 and 2010. Larger businesses, including firms with more than 500 workers, lost a combined 1.02 million jobs in those years ? causing California?s unemployment rate to spike to 12.4 percent by October 2010.
The microbusinesses were also job creators outside of California, injecting 719,729 net new jobs into the national economy between 2003 and 2012.
To see the chart and compare how smaller firms fared against larger California companies for creating jobs, click here or go to the Small Business California website.
Christopher Arns covers state legislation, regulation and contracts, as well as economic news, international trade and economic development for the Sacramento Business Journal.
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