If you're looking to start a business in California, you should be aware of these opportunities and challenges.
- You'll need to navigate a complex set of rules and regulations unique to California.
- Expect to pay more in taxes and have a higher cost of living than you would in almost any other state.
- Tap into the right resources to get the help you need and make sure you're within the law.
California is home to more than 4 million small businesses, which employ 7.1 million people across the state. Small businesses make up 99.8% of all businesses within the state and employ 48.8% of the state's workforce, making them a vital part of the Golden State economy. California's gross domestic product (GDP) grew at a rate of 3.5% through the third quarter of 2018, which outpaced the U.S. economy's national growth rate of 3.4%.
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