The National Women’s Business Council said goodbye to several of its members this month. Mary MacRae, Immediate Past President of the National Association of Women Business Owners, Susan Bari, President Emeritus of Women’s Business Enterprise National Council, and Susan Solovic, CEO of SBTV.com all completed their three-year terms in March. In addition, Pat Soldano, who had represented Women Impacting Public Policy on the Council since April 2006, resigned her post this month for business reasons. The Council is grateful to each of the departing members for their service and their unfailing commitment to improving opportunities for women business owners.
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On March 13 in St. Louis, the National Women’s Business Council held the first of two town hall meetings for women entrepreneurs scheduled for 2007. The free event, which attracted more than 60 participants, was designed to promote dialogue among the St. Louis women’s business community and to further the Council’s mission of connecting the women’s business community to policymakers.
Breakout sessions focused on specific policy areas, such as affordable health care, access to capital, procurement, and taxes, and allowed participants to discuss the challenges and priorities they face running their businesses. The results of these discussions will be compiled into a report which will contribute to policy recommendations the Council will make to the President, Congress, and the Small Business Administration (SBA) this fall.
Susan Solovic, CEO of St. Louis-based SBTV.com, and a NWBC member, moderated the program, which included welcome remarks from St. Louis Mayor Francis G. Slay and St. Louis County Executive Charlie A. Dooley. Other speakers included Donna White of the State of Missouri Office of Supplier and Workforce Diversity, Judy Dungan of the Office of Senator Kit Bond (R-MO), and Anna Jinkerson of the Office of Congressman Russ Carnahan (D-MO). Council members Susan Bari, Women’s Business Enterprise National Council, Rebecca Boenigk, Neutral Posture, Inc., and Kathy Eshelman, Grade A Notes, served as panelists and were joined by former Council members Marsha Firestone, Women Presidents’ Organization and Annie Presley, The McKellar Group.
The town hall provided an opportunity for the Council to hear from a diverse population of women business owners who may not be involved regularly in the public policy process. The Council plans to bring the results of the day’s discussions directly to policymakers to ensure that the voices of women business owners are being heard on Capitol Hill.
Several partner organizations contributed to the event’s planning, including the Grace Hill Women’s Business Center, the St. Louis District Office of the Small Business Administration, and local chapters of the National Association of Women Business Owners and Women Presidents’ Organization. “We were delighted with the outcome of this town hall meeting,” said NWBC Executive Director Margaret Barton. “The St. Louis women’s business community contributed significantly to the discussion surrounding public policies affecting women-owned businesses. Their comments will have a direct impact on women entrepreneurs throughout the country.”
The Council will hold a similar event in the Portland, Oregon area in June 2007. Recommendations gathered during both events will be compiled later this year in a report that will help the Council formulate policy recommendations. Visit www.nwbc.gov for more information on the upcoming town hall in Portland.
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In late February, Council staff met with representatives of the Federal Reserve to discuss the Council’s concerns about the elimination of the Survey of Small Business Finances (SSBF), which were outlined in a letter to the Federal Reserve in October. During the meeting, Executive Director Margaret Barton elaborated on the Council’s specific concerns regarding the collection of data relating to challenges, perceived or actual, that women business owners face in gaining access to financing. In lieu of continuing the SSBF, the Federal Reserve is proposing enhancing and expanding questions related to business ownership in the Survey of Consumer Finances (SCF).
The current version of the SCF, which is conducted every three years through in-person interviews, includes questions regarding business ownership and self-employment by members of the household. The Federal Reserve proposes expanding these questions to gather more data about the businesses and their sources of financing. Questions about business owners fear of denial when deciding whether to apply for financing will be incorporated as well.
The Fed proposes increasing the sample size for the SCF from 4,500 households to approximately 5,500 households, in which they expect to collect data on approximately 2,000 small businesses. Interviewers will be trained in pursuing this line of questions to elicit the most in-depth responses. The Fed anticipates a wider spectrum of stages of business ownership, since the SSBF was based on Dun & Bradstreet listings but the SCF will encounter a larger proportion of nascent or emerging businesses that would not be listed by D&B.
The Council is currently reviewing the Federal Reserve's proposal and will respond to the Federal Reserve’s request for input next month. To submit a comment on the Federal Reserve’s plan, please contact the Council at info@nwbc.gov or fax your comment to 202-205-3850.
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In testimony submitted this month to the Senate Committee on Small Business and Entrepreneurship, the Association of Women’s Business Centers (AWBC) outlined the need for increased financial support for key programs aimed at assisting women-owned businesses. Primarily, the AWBC requested increased appropriations for the women’s business center (WBC) program over the next three years, to $18 million in FY 2010. The need for increased funding is justified, according to AWBC, due to increased demand for women’s business center programs and these programs’ documented impact.
The AWBC also outlines in its testimony the need for full funding of the NWBC at its authorized level of $1 million, in recognition of the Council’s role as the only formal voice for women business owners in the federal government. Finally, the AWBC’s statement urges Congress to maintain funding for technical assistance programs related to the SBA’s Microloan program. According to the AWBC, eliminating funding for microloan-specific technical assistance programs, as planned in the current SBA budget proposal, would require WBCs and Small Business Development Centers to take on this additional training role when they are already under-funded and their staffs are stretched too thin.
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The 110th Congress continues to address issues of concern to small businesses, including federal contracting, the minimum wage, health care, and access to capital. On March 15, the House passed the Accountability in Contracting Act (HR 1362) which seeks to limit the use of certain types of contracts, increase transparency and accountability in federal contracting, and protect the integrity of the acquisition workforce. On March 21, the House Small Business Committee has scheduled a hearing on the Federal Government’s efforts to contract with women-owned businesses.
After a quick start, minimum wage legislation has stalled over procedural issues in the Senate. Both the House and Senate have passed versions of a bill which will increase the minimum wage from $5.15 to $7.25 an hour. But before the minimum wage increase can be enacted, the House and Senate must negotiate an agreement on a package of small business tax provisions that will accompany this wage increase.
The affordability of health care has also been a prominent issue in Congress in recent weeks. On March 14, the House Small Business Committee held a hearing on “Challenges and Solutions to Health Insurance Coverage for Small Business.” A similar hearing was held by the Senate Small Business Committee in February 2007. While it is unlikely that a one-size-fits-all solution exists to remedy the health care crisis, various pieces of legislation have been proposed by both chambers of Congress to address small business concerns. Most of the proposed legislation includes some combination of tax credits, equal tax treatment of small and large businesses with respect to benefits, pooling, uniform state mandates, and medical liability reform.
Finally, on the access to capital front, Representatives Earl Pomeroy (D-ND) and Don Manzullo (R-IL) have reintroduced the Access to Capital for Entrepreneurs (ACE) Act (HR 578) in the House. Among other provisions, this bill proposes a 25% tax credit for accredited equity investors who invest in small businesses. This legislation has been referred to the House Committee on Ways and Means.
The NWBC will be tracking legislative developments on these issues and will continue to provide updates. To track legislation on your own, visit the Library of Congress’ legislative database THOMAS to search by key word or bill number.
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The 2007 Office of Small Disadvantaged Business Utilization (OSDBU) Procurement National Conference will take place on April 19 in Upper Marlboro, Maryland. This national conference is designed to foster business partnerships between the Federal Government, its prime contractors, and small, minority, service-disabled veteran-owned, HUBZone, veteran-owned, and women-owned businesses. As in previous years, NWBC will exhibit at the event in order to connect with women business owners seeking government contracts.
Click here for more information about the OSDBU Conference or here for a complete listing of upcoming events for women business owners.
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The Small Business Administration will hold Small Business Week 2007 on April 23-24 in Washington, D.C. During Small Business Week, the SBA formally recognizes the important role of America’s small business community by honoring outstanding small business owners for their contributions to the nation’s economy and for their personal achievements.
More than 100 small business owners will be honored during the two-day conference, which will culminate with the announcement of the National Small Business Person of the Year. Click here for more information about Small Business Week.
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In 2007, the National Women’s Business Council will be cooperating once again with the Overseas Private Investment Corporation (OPIC) and the Minority Business Development Agency on a workshop designed to assist women-owned businesses in investing in the global marketplace. Entitled “Expanding Horizons,” this event will take place March 29 in Miami, Florida. OPIC is the primary U.S. government agency focused on helping U.S. businesses meet the challenges of investing overseas.
Council Executive Director Margaret Barton will provide remarks at the workshop, which will address the challenges and opportunities of overseas investments and provide an overview of the programs OPIC offers to support minority and women-owned businesses. Speakers will include senior officials from OPIC and other government agencies, international bankers, and representatives from businesses investing overseas who will share their insights and experiences. Click here for more information or to register to attend the workshop.
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