Many women around the world have been driven and breaking generational curses by starting their own businesses whether it was to provide a better life for their loved ones or just to be entrepreneurs.
On March 27 President Biden announces that he will be providing new resources to support women small business owners in all areas. Statics shows that 42% of all U.S. businesses are owned by women (13 million), Women-owned businesses employ over 9.4 million workers, and Women are three percentage points more likely to start a business than men.
“During the Small Business Administration’s (SBA) second annual Women’s Business Summit, President Biden will announce new resources to support women small business owners, and he will reaffirm the Biden-Harris Administration’s continued commitment to supporting all of America’s small businesses”.
He announces the expansion of the Small Business Administration’s Women Business Center network, which will bring the total number of centers to 160, assisting women entrepreneurs with training, mentoring, business development, and financing. His commitment to supporting small businesses will be reaffirmed by the Biden-Harris Administration which has already taken steps to support small women-owned businesses. Some of these steps include “Providing Resources and Mentorship to Women Small Business Owners, Invested millions to establish the largest network of Women Business Centers (WBC) in history. Awarded $100 million in grants through the Community Navigators Pilot Program to organizations in all 50 states and Puerto Rico, and much more.”
In the coming future, Biden plans to set a goal of increasing the share of federal contracting dollars awarded to small disadvantaged businesses (SDBs) by 50% by 2025, and Focused on ensuring that funds from the Bipartisan Infrastructure Law, CHIPS, and Science Act, and Inflation Reduction Act continue to create meaningful wealth-building opportunities for women-owned businesses.
So far the president American Rescue Plan (ARP) has helped hundreds of thousands of small businesses from shutting down during the pandemic. It has provided childcare to 220,000 childcare providers and Supports more than 13,000 hard-hit live entertainment small businesses. A panel discussion will be taking place so these businesses could get the support they need. Some guests that will be on the panel are Sara Blakely, founder of Spanx, Payal Kadakia, former CEO and founder of ClassPass, Melissa Butler, CEO and Founder of The Lip Bar, and Natalie King, founder, and CEO of Dunamis Charge, an electric vehicle charger manufacturer.
“The Women’s Business Summit will continue through Wednesday, March 29, and feature panels and discussions with Administration officials, non-profit and for-profit organizations, and women entrepreneurs leading businesses across various industries, including childcare, technology, services, manufacturing, and more.”
Written By: Karesha Graham