The National Women’s Business Council sent a letter to the Federal Reserve Board this month conveying its concern in the Board’s decision to stop producing the Survey of Small Business Finances.  The Survey, produced every five years beginning in 1988, measures business financing used by small business (non-farm privately-owned businesses with fewer than 500 employees).  In particular, the survey studies the various sources of financing sought and used by small businesses, with breakdowns by gender and ethnicity. 

Of particular importance to the women's business community are sections addressing firms that may have sought additional credit but that didn't apply for fear of denial by financial institutions.  The Federal Reserve Board is the only organization that produces this valuable research and the data it provides are extremely important to researchers and policymakers.  NWBC highlighted the importance of this data in its letter and urged the Federal Reserve Board to reconsider its decision. 

For more information on this report and its usefulness, visit www.federalreserve.gov/ssbf . To receive a copy of the Council’s letter to the Federal Reserve, please contact NWBC Director of Communications Allison Gilmore at 202-205-6827 or allison.gilmore@sba.gov.

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On October 24^th, NWBC Operations Manager Katherine Stanley participated in a meeting of the International Visitor Leadership Program for the Africa Regional Group.  The event, sponsored by the Institute of International Education and the U.S. Department of State, brought eight women from the African countries of Burundi, Cote d’Ivoire, Democratic Republic of Congo, Liberia, Niger, Nigeria, Senegal, and Togo to Washington, D.C. to learn about women and entrepreneurship in the United States. 

The meeting served to highlight the contributions of women to the global economy and technology development and to illustrate the essential role of non-governmental and grassroots organizations in supporting women’s development and empowering women professionally and personally. The discussion was coordinated by Jane Boorman, Small Business Administration (SBA) Office of Business Initiatives, and included Jacqueline Lendsey, President/CEO, Women in Community Service, and Tanya Smith, SBA Office of International Trade.

During her remarks, Ms. Stanley gave a history of women entrepreneurship in the United States, discussed NWBC’s history and mission, as well as the Council’s recent and upcoming research projects. The program participants appreciated hearing about the history of women’s entrepreneurship in the United States and many expressed the need for mentors and expressed their desire to form women’s organizations in their countries. 

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The National Women’s Business Council is upgrading its database to ensure that future Council communications reach the broadest and most appropriate audience.  You may have already been contacted with a request to update your information. If you haven’t responded already, please email your contact information, including your name, title, address, telephone, fax, email, web site, and NAICS code, to nwbc@sba.gov. This information will not be shared with any other organization.

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On November 16 in Los Angeles, Council member Ann Marie Almeida represented NWBC at “Expanding Horizons,” the third in a series of workshops sponsored by the Overseas Private Investment Corporation (OPIC) designed to assist women-owned businesses in investing in the global marketplace. The workshop, which featured remarks by senior officials from OPIC and other government agencies, highlighted the opportunities and challenges of overseas investment and offered information on OPIC’s programs in support of minority and women-owned businesses.  During the event, international bankers and representatives from businesses investing overseas also shared their insights and experiences in investing in global markets.

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Congressional elections earlier this month will have an effect on the small business community.  When the 110^th Congress convenes in January, the Small Business Committees of the Senate and House of Representatives will have new leadership.  At this time, John Kerry (D-MA) is expected to become Chairman of the Senate Committee on Small Business and Entrepreneurship, while Nydia Velazquez (D-NY) is expected to become Chair of the House Small Business Committee.  NWBC members and staff will continue to work closely with all members of these committees to address issues of importance to women business owners.

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The SBA announced $12 million in grant funding for the Women’s Business Center (WBC) program this month, including money for 19 new Women’s Business Centers.  WBCs are community-based centers offering business training and counseling to assist women start, grow and expand their small businesses.  The grants also include continued funding of 29 existing WBCs and sustainability grants for 51 older WBCs. 

The WBC program, established by Congress in 1988, is administered by the SBA’s Office of Women’s Business Ownership.  Last year, WBCs served more than 144,000 clients across the country, providing mentoring, technical assistance and training in topics such as financial management, procurement, and marketing.   With the addition of 19 new centers, there are now 99 WBCs nationwide.  For a complete list of all centers and to find a location near you, visit www.onlinewbc.gov/wbc.pdf.

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On November 14, the Small Business Administration announced a new proposed regulation requiring small businesses to recertify their size status on long-term contracts after the first five years of a contract, when they buy, merge or are acquired by another company, or when a contract option is exercised.  Agencies will be able to continue doing business with providers that have outgrown their small status, but will not be given small business credit for these contracts.  In announcing the regulation, SBA Administrator Steven C. Preston said it will “go a long way toward ensuring that contract awards get in the hands of small business owners…and small business contract awards are fairly and accurately reported.”   

The SBA also announced a Small Business Procurement Scorecard for 24 federal agencies.  This scorecard will more aggressively track and monitor the status of each agency’s small business goal achievement, increasing transparency and accountability in small business procurement.  In announcing the new scorecard, Administrator Preston said the scorecard also “will highlight successes that can be shared between agencies and result in additional ways to engage the small business contracting community.” The SBA’s new scorecard will be released twice a year starting in early 2007.

On November 1, the SBA launched a new Web site to meet the needs of small businesses.  The new site, which includes improved navigation, updated content and new features, focuses on the needs of entrepreneurs and small businesses.  

The site is organized into content categories, such as: Small Business Planner, with information on planning, starting and managing a small business; Services, with information on SBA’s financial assistance, disaster recovery, contracting, and training services; Tools, with forms, brochures, fact sheets, reports and publications for small business owners; and Local Resources, which provides a directory of district and regional offices as well as links to SBA resource partners like SCORE and Women’s Business Centers.