Mayor Bass Signs Executive Directive to Promote Small Business Growth
Los Angeles Mayor Karen Bass has signed an executive directive aimed at identifying roadblocks that slow down small business creation, development, and growth.
It establishes the Steering Committee, which will bring together leaders from different city agencies to identify these barriers.
This is Mayor Bass's fourth executive directive since being elected.
What are the Details?
In essence, the city wants it to be easier for small businesses to open and operate in Los Angeles. The executive directive is significant as small businesses are a huge part of the LA economy.
Since 2022, 99% of new businesses that have opened in Los Angeles are small businesses, and they have accounted for 63% of net new jobs.
Thus, the executive directive will help small businesses by:
- Reviewing small business taxes and fees, finding opportunities on how to reduce those costs, and how fees impact small businesses
- Assessing the existing processes and timelines associated with starting and operating a small business
- Developing a streamlined approach for small businesses to navigate processes
- Comparing how other cities' business regulations and approaches foster business growth and attraction
The Steering Committee will be made up of officials from an array of city departments including the Mayor’s Office of Business and Economic Development, Office of Finance, Office of the City Controller, City Planning Department, Economic and Workforce Department, and more.
To read the full executive directive, click here.
The Committee will report its findings back to the Mayor’s Office within 90 days.
We’ll make sure to update you on the committee’s findings and any policy changes that come because of it.
Until then, keep up with BOMA on the Frontline for the latest news in the Greater Los Angeles area.