Business

There Is Cash in California’s Comeback Plan for Your Small Business

Just in case Black businesses in the state are not aware, the California Legislature recently passed the $100 billion California Comeback Plan. It is the biggest economic recovery package in California history.

Published

5 years ago

August 14, 2021

Christy Price

Governor Gavin Newsom

And in it, there are billions of dollars in cash relief for small businesses.

State Treasurer Fiona Ma and Small Business Majority, an advocacy organization founded by and for small business owners, are hosting a webinar to share information about the new entrepreneurship programs included in the California Comeback Plan. It will be held at 1:00 p.m., Wednesday, August 25.

“As California businesses emerge from survival mode and embark on various stages of re-opening, now is the time to develop strategies that can help companies get the jumpstart they need and grow in innovative ways,” said Ma when she first announced the webinar series.

During the upcoming briefing, the leaders will also share information about how CalSavers, a free individual retirement account (IRA) for small business employers, can help small business owners rehire employees laid off due to the pandemic.

They will also talk about the Small Business COVID-19 Relief Grant’s reopening. That program, valued at more than $2 billion, has been providing grants of up to $25,000 to small businesses and non-profits across the state.

California is home to 4.1 million small businesses, representing over 99% of all businesses in the state and employing nearly half of the state’s total workforce. About 1.2 million of them (29%) are minority-owned.

In June, Gov. Gavin Newsom visited two Black-owned small businesses in Oakland to spread the gospel about the California Comeback Plan, which Ma intends to also do during the webinar.

“This isn’t all about dollars and cents. This is about magical moments. This is about communities,” Newsom said, speaking of supporting Black businesses while he was standing in front of Graffiti Pizza in Oakland. “Small businesses are about communities.”

According to the June 2020 report by ZIPPIA, titled the “Most Supportive States for Black Businesses,” California ranked No. 4 before the onset of the pandemic. But those numbers fell in the first half 2020 after being impacted by a sluggish economy that is now looking to rebound more than a year later.

Topics up for discussion during the webinar will include the Small Business COVID-19 Relief Grant Program and when to apply; the Microbusiness COVID-19 Relief Grant Program and the California Venues Grant Program (both new); and CalSavers, a free workplace-based retirement program.

A question-and-answer session will follow the discussions.

The California Comeback Plan was designed to provide support for small businesses to recover from the pandemic. The plan invests an additional $1.5 billion in COVID-19 relief grants – bringing the total to $4 billion. That amount represents the largest small business grant program in the country.

Earlier this year, Newsom delivered immediate relief to small businesses, including a historic $6.2 billion tax cut for businesses — the largest state small business tax cut in the history of the United States, according to the governor’s office.

“When you talk about California roaring back you can’t come roaring about unless small businesses are fully back,” Newsom said during his Oakland visit.

For information and the webinar hosted by Small Business Majority, visit https://smallbusinessmajority.org/events

Christy Price

Posts by Christy Price

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Oakland Post: Week of March 18 – 24, 2026

The printed Weekly Edition of the Oakland Post: Week of March 18 – 24, 2026

Published

2 weeks ago

March 22, 2026

Oakland Post

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Oakland Post

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Advice

Financial Wellness and Mental Health: Managing Money Stress in College 

While everyone’s financial situation is unique, several common sources of stress have the potential to strain your financial health. These include financial and economic uncertainty, existing debts, unexpected expenses, and mental or physical health changes. Financial stress may differ from situation to situation, but understanding the factors contributing to yours may help you begin to craft a plan for your unique circumstances.

Published

3 weeks ago

March 17, 2026

Oakland Post

Sponsored by JPMorganChase

As a college student, managing financial responsibilities can be stressful.

If you’ve found yourself staying up late thinking about your finances or just feeling anxious overall about your financial future, you’re not alone. In one survey, 78% of college students who reported financial stress had negative impacts on their mental health, and 59% considered dropping out. While finances can impact overall stress, taking steps to manage your finances can support your mental, emotional and physical well-being.

When it comes to money, the sources of stress may look different for each student, but identifying the underlying causes and setting goals accordingly may help you feel more confident about your financial future.

Consider these strategies to help improve your financial wellness and reduce stress.

Understand what causes financial stress

2. Determine your financial priorities

Start by reflecting on your financial priorities. For students this often includes paying for school or paying off student loans, studying abroad, saving for spring break, building an emergency fund, paying down credit card debt or buying a car. Name the milestones that are most important to you, and plan accordingly.

3. Create a plan and stick to it

While setting actionable goals starts you on the journey to better financial health, it’s essential to craft a plan to follow through. Identifying and committing to a savings plan may give you a greater sense of control over your finances, which may help reduce your stress. Creating and sticking to a budget allows you to better track where your money is going so you may spend less and save more.

4. Pay down debt

Many students have some form of debt and want to make progress toward reducing their debt obligations. One option is the debt avalanche method, which focuses on paying off your debt with the highest interest rate first, then moving on to the debt with the next-highest interest rate. Another is the debt snowball method, which builds momentum by paying off your smallest debt balance, and then working your way up to the largest amounts.

5. Build your financial resilience

Some financial stress may be inevitable, but building financial resilience may allow you to overcome obstacles more easily. The more you learn about managing your money, for instance, the more prepared you’ll feel if the unexpected happens. Growing your emergency savings also may increase resilience since you’ll be more financially prepared to cover unexpected expenses or pay your living expenses.

6. Seek help and support

Many colleges have resources to help students experiencing financial stress, like financial literacy courses or funds that provide some assistance for students in need. Talk to your admissions counselor or advisor about your concerns, and they can direct you to sources of support. Your school’s counseling center can also be a great resource for mental health assistance if you’re struggling with financial stress.

The bottom line

Financial stress can affect college students’ health and wellbeing, but it doesn’t have to derail your dreams. Setting smart financial goals and developing simple plans to achieve them may help ease your stress. Revisit and adjust your plan as needed to ensure it continues to work for you, and seek additional support on campus as needed to help keep you on track.

 JPMorgan Chase Bank, N.A. Member FDIC