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The NWBC 2012 Annual Report offers a list of recommendations to help increase the economic potential of women entrepreneurs, one of the fastest-growing segments in the country.
The NWBC is required by law to submit annual recommendations on how the government can best aid women business owners. This year’s recommendations addressed topics that include:
- High growth businesses: The absence of a standard definition for “high growth” may be impeding the government’s ability to measure these types of businesses that have attracted wide attention.
- Federal procurement: Women business owners have consistently sought improved access to government contracting opportunities. The Senate recently took steps to help ease restrictions placed on the Women-Owned Small Business Federal Contract Program, but the government has room to improve in achieving its 5 percent set-aside goal for women-owned firms.
- Access to capital: Getting more money into the hands of women entrepreneurs continues to be the top priority for starting, and growing, businesses.
- Data and research: The government should support efforts to collect and annually disseminate a consistent, shared source of baseline data on women-owned businesses.