Small Business & Entrepreneurship
At SLATE-Z, we address poverty and move South Los Angeles residents to economic opportunity by focusing on two sources of wealth building: living wage jobs and small business & entrepreneurship.
As our nation recovers from the COVID-19 global pandemic and enters the new climate resilient economy, Small Businesses and Entrepreneurs provide a stable avenue of growth in the South Los Angeles Promise Zone.
SLATE-Z works to prepare Small Businesses and Entrepreneurs for the economic opportunities ahead by focusing on their foundational needs (leases, bank accounts, etc.), sustainability (economic and environmental sustainability), and growth (procurement contracts with the City of Los Angeles, LA County, and private funders) to build wealth.
SLATE-Z’s Small Business & Entrepreneurship efforts are interrelated with its other levers of change: education, jobs transit, education, and public safety.
Key Takeaways
Contractor Licenses
3,775
Between 2019 and 2023, over 3,775 people in the South LA Promise Zone acquired Security & Investigative Licenses, far more than any other license type.
76
In 2022 & 2023, a total of 76 people acquired a license for Construction/Contracting, more than in any other two year period.
Over the last decade, the number of people in the South LA Promise Zone acquiring licenses in Automotive Repairs, Construction/Contracting, Barbering & Cosmetology, and Security & Investigative Services has been increasing.
Active Businesses
20,783
There are approximately 20,783 businesses registered with the City of Los Angeles in the South LA Promise Zone that were open for at least half of 2023.
4,000
Over the last decade, the number of active businesses (of any size) in the South LA Promise Zone has increased by over 4,000 businesses.
Small Businesses
- There are approximately 5,225 small businesses in the South LA Promise Zone as of 2022
- A large number of small businesses are clustered in the northeast corner of the South LA Promise Zone (close to Downtown Los Angeles)
Source: Reference USA Business Database
Notes:
- Small businesses are defined as privately-owned businesses with a single location and less than 100 employees.
- Data was pulled from the Reference USA database in September of 2022.
Active Businesses (of Any Size)
- There are 20,783 active businesses registered with the City of Los Angeles in the South LA Promise Zone that were open for at least half of 2023.
- Over the last decade, the number of active businesses in the South LA Promise Zone has increased by over 4,000 businesses.
Source: City of Los Angeles Office of Finance
Notes:
- A business is considered “active” in a year if it is operational for at least half of that calendar year.
Contractor Licenses
- Over the last decade, the number of people in the South LA Promise Zone acquiring licenses in Automotive Repairs, Construction/Contracting, Barbering & Cosmetology, and Security & Investigative Services has been increasing
- Between 2019 and 2023, over 3,775 people in the South LA Promise Zone acquired Security & Investigative Licenses, far more than any other license type.
- In 2022 & 2023, a total of 76 people acquired a license for Construction/Contracting, more than in any other two year period.
Sources:
State of California Department of Consumer Affairs
State of California Contractors Licensing Board
