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ByNWBC Council

December 2017 Public Meeting Recap: Accelerating the Future of Women Entrepreneurs

2017 has been a busy year at the National Women’s Business Council and with our last Public Meeting of the calendar year (and first Public Meeting of Fiscal Year 2018), it was an opportunity to reflect on the progress made to advance women entrepreneurs, but also the priorities looking ahead to 2018. This year, the Council also celebrated 29 years of advising the White House, Congress, and the U.S. Small Business Administration on key issues facing women business owners, convening the best intellect and experience around entrepreneurial successes and challenges that women still face, and developing poignant research relevant to the entrepreneurial ecosystem.

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ByNWBC Council

Billions of federal contracting dollars

Billions of federal contracting dollars go to women-owned businesses—but it’s still not enough.

In May 2017, the U.S. Small Business Administration (SBA) announced that the federal government exceeded its small business federal contracting goal for the fourth consecutive year, awarding 24.34 percent in federal contract dollars to small businesses. In order to achieve the goal of spending 23 percent of federal contract dollars with small businesses, major agencies of the federal government work with the SBA to establish individualized spending benchmarks, and are encouraged to meet them.  For example, while the Department of Energy (DOE) aims to spend 6.37 percent of its contract monies with small businesses, the SBA, itself, aims for a small business spend of 72.75 percent of its contract dollars. You can see the FY16 agency goals and achievements here.

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ByNWBC Council

Challenging definitions and telling her stories

On October 11, 2017, the National Women’s Business Council released a new report, “Necessity as a Driver of Women’s Entrepreneurship: Her Stories.” This report is an extension of the report released by the NWBC in July 2017, “Necessity as a Driver of Women’s Entrepreneurship,” which challenged the notion that entrepreneurship is born from one of two realities: severe economic need or an innovative idea to disrupt the market. The NWBC research recognized these motivations and the entrepreneurship that results from them (typically referred to as “necessity” or “opportunity” entrepreneurship) but suggests that this traditional binary does not fully capture the range of reasons individuals—especially women—become business owners. NWBC’s work expands the traditional definition of necessity entrepreneurship to include a range of factors that might influence a woman’s decision to start a business and introduces a theoretical model to illustrate this expanded definition.

 

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ByNWBC Council

NWBC August 2017 Public Meeting and Launch of the NWBC Solutions Labs (Recap)

The National Women’s Business Council’s August 2017Public Meeting – the last Public Meeting for Fiscal Year 2017 — served as an opportunity to share with stakeholders the breadth and depth of the most aggressive research portfolio that the Council has undertaken to-date; to provide updates on NWBC research projects that were still in-progress, including:  Hispanic women business enterprises, veteran women business ownership, necessity entrepreneurship, crowdfunding, and survey development;  to announce the Council’s FY2018 research on the horizon; and to share our fourth quarter public engagement efforts.

 

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ByNWBC Council

National Women’s Business Council Report Finds Hispanic Women Entrepreneurs Are Untapped Engine of Economic Growth

Hispanic women entrepreneurs generate $97 billion in revenue, but have the potential to grow significantly with access to more resources

Washington, DC – In correlation with National Hispanic Heritage Month, the National Women’s Business Council (NWBC) released a new report detailing the barriers to success faced by many Hispanic women entrepreneurs, and offering a roadmap of solutions to help unlock their full economic potential. Hispanic Women Entrepreneurship: Understanding Diversity Among Hispanic Women Entrepreneurswas prepared for NWBC by Susana Martinez-Restrepo, PhD, CoreWoman and Geri Stengel, Ventureneer.

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ByNWBC Council

What do Dell’s WE Cities & NWBC Entrepreneurial Ecosystem Model tell us: “It’s all about the Network”

The number of women entrepreneurs in the United States continues to grow at an accelerated rate.  According to the 2012 U.S. Census Survey of Business Owners and Self-Employed Persons, there are 9.9 million women entrepreneurs who bring in about $1.6 trillion in revenue. In order to continue this remarkable progress, the U.S. needs to create and sustain the environments that will allow women business owners to thrive.

 

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ByNWBC Council

The Impact of Gender Bias on Funding for Women Entrepreneurs

Say you want to open a new business. You have a great idea, an amazing pitch, and a flawless business plan. You decide to go see a group of venture capitalists to try and get funding. The same day, a man pitches his idea for a similar business. He’s around your age and is also quite qualified and well-prepared. They ask him about his five-year plan. They ask you about potential obstacles. He gets to talk about his brand vision; you are forced to defend your business model. When they discuss your meetings, they mention your good looks, but emphasize that he is a competent innovator. Unfortunately for you, he gets funding and you don’t. 

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ByNWBC Council

Call for Applications: NWBC Fall Fellow (Fall 2017) – DEADLINE EXTENDED

National Women’s Business Council Fall Fellow (Fall 2017)

Background

The National Women’s Business Council (NWBC) is searching for a college/university undergraduate or graduate student to join the team for a fall fellowship with a ten week minimum term beginning mid-September 2017 (flexible start date).

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ByNWBC Council

Defining necessity–A closer look at NWBC’s new research report, Necessity as a Driver of Women’s Entrepreneurship

Today, July 12, 2017, the National Women’s Business Council released its latest research report, Necessity as a Driver of Women’s Entrepreneurship.  This report offers a nuanced view of what constitutes “necessity entrepreneurship” and reveals why it is crucial to explore business motivation in context of gender and social norms.  While the project was launched in order to understand more about the 80 percent of women business owners bringing in less than $50,000 in receipts a year, the research ultimately challenges the notion that necessity entrepreneurship can be described through finances, alone.  The final report reviews the existing literature; analyzes two public sources of data; introduces a new working model for understanding necessity entrepreneurship; and offers recommendations for policy and future research.

 

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ByNWBC Council

From Neighborhoods to National: A Closer Look at Ecosystems for Women Entrepreneurs May 10, 2017

On May 10, the National Women’s Business Council united in the nation’s capital, Washington, DC, for the third public meeting of this fiscal year. Here are the highlights:

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