LOS ANGELES — Los Angeles Mayor Karen Bass and U.S. Small Business Administration Administrator Isabel Casillas Guzman joined the launch of the first federally recognized Women’s Business Center at the Vermont Slauson Economic Development Corporation, or VSEDC, in South Los Angeles.

The Small Business Administration reports that more than 40% of the U.S. economic output comes from small business.

The SBA says the U.S. is experiencing a "historic Small Business Boom, with more than 17.5 million new business applications filed since President Biden took office – including 1.7 million in California alone. This boom is being fueled by people of color and women, who are starting businesses at higher rates than their male counterparts."