U.S. Senate Addresses Major Obstacles faced by Women Business Owners

In July, Senator Maria Cantwell (D-WA), Chair of the Senate Committee on Small Business & Entrepreneurship released a report entitled, 21st Century Barriers to Women’s Entrepreneurship highlighting three key areas that need improvement for women business owners: access to the federal market, access to capital, and access to business counseling and training. According to the report women-owned businesses are a $3 trillion economic force and support 23 million jobs but still face significant barriers compared to their male-owned counterparts when it comes to obtaining loans and growing their businesses.

Women entrepreneurs account for just $1 out of every $23 in small business lending, despite representing 30 percent of all small companies. Women also are more likely to be turned down for loans or receive less favorable terms than men, according to the report.

Other significant challenges faced by women are highlighted in the report, including:

  • Access to lending: Women receive just 4 percent of the total value of all conventional small business loans, and only 7 percent of venture capital funding. In addition, women face difficulty in getting right-sized loans that fit their needs. “Women are forced to rely on personal credit, loans from family and friends, and credit with high interest rates instead of getting traditional bank lending,” Cantwell said.
  • Equal access to federal contracts: The federal government has never met its goal of awarding 5 percent of contracts to women-owned businesses – a goal enacted by legislation 20 years ago. This results in women-owned businesses missing at least $4 billion annually in contracting opportunities.
  • Getting relevant business training and counseling: The SBA-operated Women Business Center program was created to help support women-owned businesses get off the ground and has successfully provided training to thousands of women entrepreneurs each year. But Congress has not provided new funding for the program since 1999, despite an increasing need.

The report recommends three remedies to improve the business climate for women entrepreneurs:

  • Modernize and expand the SBA’s Microloan Program to reach borrowers that need up to $50,000, and reauthorize the Intermediary Loan Program to allow more women to access capital between $50,000 and $200,000.
  • Enact legislation that would allow sole-source contracting to women-owned businesses through the Women-Owned Small Business Procurement Program, which would give them the same access to federal contracts as other disadvantaged groups.
  • Reauthorize the Women Business Center program, which issues grants to nonprofit organizations to provide specialized counseling and training, and increase funding to potentially help more women entrepreneurs, especially in low-income areas. The program already has demonstrated success – Women Business Centers helped clients access more than $25 million in capital and open more than 630 businesses in fiscal year 2013.

If you support this legislation, you are urged to contact your Senator and encourage them to co-sponsor this legislation.

Trackbacks

  1. Title

    [...]although sites we backlink to below are considerably not associated to ours, we really feel they are basically really worth a go as a result of, so possess a look[...]

  2. Title

    [...]very few websites that happen to be detailed beneath, from our point of view are undoubtedly very well really worth checking out[...]

  3. Title

    [...]Wonderful story, reckoned we could combine a number of unrelated data, nevertheless truly really worth taking a appear, whoa did one find out about Mid East has got more problerms at the same time [...]

  4. Title

    [...]we like to honor numerous other web web-sites on the net, even when they aren’t linked to us, by linking to them. Below are some webpages really worth checking out[...]

  5. Title

    [...]usually posts some quite interesting stuff like this. If you are new to this site[...]

  6. family taxi says:

    Title

    [...]one of our visitors lately advised the following website[...]

  7. Google says:

    Google

    Very handful of websites that occur to be detailed beneath, from our point of view are undoubtedly properly worth checking out.

  8. Title

    [...]check beneath, are some absolutely unrelated internet websites to ours, on the other hand, they are most trustworthy sources that we use[...]

  9. Title

    [...]Wonderful story, reckoned we could combine a few unrelated data, nevertheless truly worth taking a look, whoa did 1 study about Mid East has got extra problerms also [...]

  10. Title

    [...]usually posts some pretty exciting stuff like this. If you are new to this site[...]

  11. flights says:

    flights

    [...]we like to honor quite a few other world-wide-web internet sites on the internet, even if they aren’t linked to us, by linking to them. Underneath are some webpages really worth checking out[...]

  12. ساک زدن

    [...]usually posts some incredibly fascinating stuff like this. If you are new to this site[...]

  13. https://sharadadvertising.com/

    [...]check below, are some totally unrelated websites to ours, having said that, they may be most trustworthy sources that we use[...]

  14. order counterfeit money 2019

    [...]usually posts some pretty fascinating stuff like this. If you are new to this site[...]

  15. fishscale cocaine

    [...]the time to read or take a look at the subject material or web-sites we have linked to below the[...]

  16. buy undetectable counterfeit money online

    [...]although internet websites we backlink to beneath are considerably not connected to ours, we really feel they may be essentially worth a go through, so have a look[...]

  17. Venice photography

    [...]although web-sites we backlink to beneath are considerably not connected to ours, we really feel they’re actually worth a go by, so have a look[...]

  18. apps for pc download

    [...]that would be the finish of this post. Here you’ll obtain some web sites that we feel you’ll enjoy, just click the hyperlinks over[...]

  19. Group health insurance plans

    [...]just beneath, are numerous absolutely not connected web-sites to ours, nonetheless, they’re certainly really worth going over[...]

  20. Employee benefits

    [...]the time to read or go to the content material or web-sites we’ve linked to below the[...]

  21. Mktg Thailand

    [...]check beneath, are some totally unrelated web-sites to ours, however, they’re most trustworthy sources that we use[...]

  22. cannabis4homes.com

    [...]Every the moment in a though we pick blogs that we read. Listed beneath are the latest sites that we pick [...]

  23. radio says:

    radio

    [...]we came across a cool site which you may possibly appreciate. Take a appear should you want[...]

  24. gel polish says:

    gel polish

    [...]Here is a superb Blog You may Find Interesting that we Encourage You[...]

  25. bitsler says:

    bitsler

    [...]check beneath, are some completely unrelated web sites to ours, having said that, they are most trustworthy sources that we use[...]

  26. stake says:

    stake

    [...]just beneath, are a lot of totally not related web sites to ours, having said that, they are surely worth going over[...]

  27. job says:

    job

    [...]always a big fan of linking to bloggers that I really like but do not get lots of link love from[...]

  28. cryptotrade says:

    cryptotrade

    [...]Every the moment in a whilst we decide on blogs that we study. Listed beneath are the most recent web pages that we decide on [...]

  29. marketing your internet business

    [...]here are some links to web sites that we link to simply because we believe they’re worth visiting[...]

  30. Denver SEO agency

    [...]please visit the sites we stick to, like this 1, because it represents our picks through the web[...]

  31. colorado web impressions

    [...]usually posts some really exciting stuff like this. If you’re new to this site[...]

  32. اغانى شعبى

    [...]check below, are some absolutely unrelated sites to ours, even so, they’re most trustworthy sources that we use[...]

  33. christmas bartender

    [...]Wonderful story, reckoned we could combine a few unrelated information, nevertheless definitely really worth taking a search, whoa did a single find out about Mid East has got a lot more problerms also [...]

  34. it recycling companies portsmouth

    [...]we prefer to honor numerous other world wide web internet sites on the net, even though they aren’t linked to us, by linking to them. Under are some webpages worth checking out[...]

  35. Turkey plastic surgery

    [...]always a large fan of linking to bloggers that I adore but do not get a lot of link enjoy from[...]

  36. pubg hile satın al

    [...]we prefer to honor lots of other internet web pages around the web, even when they aren’t linked to us, by linking to them. Under are some webpages worth checking out[...]

  37. Birman Kittens For Sale Near Me

    [...]very couple of internet sites that take place to be comprehensive below, from our point of view are undoubtedly nicely worth checking out[...]

  38. cheap kittens for sale

    [...]usually posts some really exciting stuff like this. If you’re new to this site[...]

  39. REAL COUNTERFEIT MONEY FOR SALE ONLINE

    [...]that is the end of this write-up. Here you will locate some web pages that we consider you will enjoy, just click the links over[...]

  40. small realistic dildo

    [...]one of our guests a short while ago suggested the following website[...]

  41. sexual health

    [...]Every when inside a when we select blogs that we study. Listed below are the newest web-sites that we opt for [...]

  42. ucuz uçak bileti

    [...]Here is a superb Blog You might Discover Fascinating that we Encourage You[...]

  43. macca says:

    macca

    [...]we like to honor several other world-wide-web web sites on the net, even though they aren’t linked to us, by linking to them. Below are some webpages worth checking out[...]

  44. ربات بازی انفجار

    [...]here are some hyperlinks to sites that we link to simply because we assume they are worth visiting[...]

  45. giayu2 says:

    giayu2

    [...]Here is a superb Weblog You may Discover Fascinating that we Encourage You[...]

  46. click here to investigate ΠΑΝΟΣ ΓΕΡΜΑΝΟΣ

    [...]usually posts some quite exciting stuff like this. If you’re new to this site[...]

  47. website link ΠΑΝΟΣ ΓΕΡΜΑΝΟΣ

    [...]check below, are some totally unrelated web sites to ours, nonetheless, they’re most trustworthy sources that we use[...]

  48. Damiana says:

    Damiana

    [...]here are some hyperlinks to internet sites that we link to for the reason that we believe they may be really worth visiting[...]

  49. wasmachine reparatie

    [...]we like to honor quite a few other world-wide-web sites on the internet, even when they aren’t linked to us, by linking to them. Underneath are some webpages worth checking out[...]

  50. mahna mahna says:

    mahna mahna

    [...]just beneath, are numerous completely not connected web sites to ours, even so, they’re certainly worth going over[...]

  51. buy hemp online

    [...]check beneath, are some totally unrelated websites to ours, having said that, they’re most trustworthy sources that we use[...]

  52. https://www.telocard.com/

    [...]that is the end of this article. Right here you’ll find some web sites that we assume you’ll value, just click the hyperlinks over[...]

  53. Buy Mini Australian Shepherd Puppies

    [...]the time to study or take a look at the content material or web sites we’ve linked to below the[...]

  54. granül klor says:

    granül klor

    [...]Every as soon as inside a whilst we decide on blogs that we study. Listed beneath are the most recent web pages that we choose [...]

  55. sandalye says:

    sandalye

    [...]Sites of interest we have a link to[...]

  56. look at here ΑΠΟΦΡΑΞΕΙΣ

    [...]Here is a good Weblog You may Discover Exciting that we Encourage You[...]

  57. kamado grill for home

    [...]Here is a superb Blog You might Come across Intriguing that we Encourage You[...]

  58. BERETTA M9 FOR SALE

    [...]The facts mentioned inside the article are several of the most beneficial out there [...]

  59. https://montanagunsforsale.com/product/glock-19-gen5-mos-fs-semi-auto-pistol-for-sale-2/

    [...]always a significant fan of linking to bloggers that I appreciate but really don’t get a great deal of link like from[...]

  60. magic mushroom starter kits

    [...]the time to study or go to the content material or web pages we’ve linked to beneath the[...]

  61. Beretta 686 says:

    Beretta 686

    [...]here are some links to internet sites that we link to mainly because we think they’re worth visiting[...]

  62. Puppies near me

    [...]we came across a cool web site that you could possibly take pleasure in. Take a search should you want[...]

  63. THC VAPE JUICE

    [...]always a huge fan of linking to bloggers that I enjoy but really don’t get a lot of link really like from[...]