California Small Business Development Technical Assistance Expansion Act of 2018.
The impact of AB 2463 on state laws includes the establishment of the California Small Business Technical Assistance and Expansion Program, which will be operational until it becomes inoperative in March 2025 and fully repealed by January 2026. This program will require the appropriation of funds from the California Economic Development Fund to facilitate grants that support small businesses. The program is expected to enhance small business growth and economic resilience by connecting entrepreneurs with essential resources and training that can facilitate their development and market competitiveness.
Assembly Bill 2463, also known as the California Small Business Development Technical Assistance Expansion Act of 2018, is designed to assist small businesses in California by providing free or low-cost one-on-one consulting and low-cost training through the establishment of a new program within the Governor's Office of Business and Economic Development (GO-Biz). This program aims to enhance the capacity of existing small business development initiatives by creating grant agreements with federal small business technical assistance centers. Furthermore, the bill allows for the modernization of the definition of eligible grant applicants, including state trade expansion programs, broadening the support network for small businesses.
The sentiment surrounding AB 2463 appears to be positive, especially among proponents who champion the accessibility of resources and training for small businesses. Supporters argue that empowering small businesses is crucial for California's economic health, especially as they contribute significantly to job creation and innovation in the state. However, as with many legislative efforts, some skepticism exists regarding the effectiveness of such programs and the allocation of state resources; critics may argue about the long-term financial sustainability and impact of these support measures.
While AB 2463 has received broad support, notable points of contention may arise from discussions about the prioritization of funding and resource allocation between differing economic development programs. Some stakeholders could express concerns regarding the equal distribution of support amongst diverse business types, particularly in underserved communities. As the program will allow for revising existing definitions regarding eligibility, it brings to the forefront questions about inclusivity and equitable access to the resources made available through this initiative.