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You’re Invited! The National Women’s Business Council is holding a virtual Public Meeting on June 6, 2024, from 12:00 PM to 2:00 PM ET. This meeting will allow the Council to hear from subject matter experts on issues related to women’s entrepreneurship. The meeting will open with a round robin from key SBA program offices and feature a research presentation from the Nasdaq Entrepreneurial Center. It will also allow the Council’s three subcommittees to provide updates to the full Council. If you are interested in submitting comments ahead of the meeting, please do so via the registration form or by emailing info@nwbc.gov with subject line—“[Name/Organization] Comment for 06/06/24 Public Meeting.”

The National Women’s Business Council (NWBC) recently held a hybrid Public Meeting at 12:00 PM ET on January 23, 2024. The meeting was held at SBA Headquarters (409 3rd St SW, Washington, DC 20416) and live streamed on Zoom.

By participating in the Public Meeting, members of the public were able to learn about the Council’s ongoing research, engagement, and policy endeavors, understand how the Council moves in alignment with other women’s business organizations, and share their firsthand experiences when it comes to entrepreneurship.

Public Meeting Recap

Welcome Remarks – Executive Director/Designated Federal Officer (DFO) Tené Dolphin

  • Executive Director/DFO Tené Dolphin welcomed guests and called the meeting to order at 12:10 PM.
  • She shared that the goal of the meeting was for Council Members to provide an update on NWBC’s ongoing work and to hear from experts about key priorities and trends related to women’s entrepreneurship in 2024.
  • Before taking role, Executive Director/DFO Dolphin reiterated the mission of the Council and gave background on what the Council has been working on since the last public meeting.
  • The following Council Members were present based on the role call and a quorum was established:
    • Sima Ladjevardian
    • Samantha Abrams
    • Brandy R. Butler
    • Karen Clark Cole
    • Kathy Cochran
    • Selena Rodgers Dickerson
    • Roberta McCullough
    • Jenny Poon
    • Pamela Prince-Eason
    • Leslie Lynn Smith
    • Dr. Shakenna Williams
  • Executive Director/DFO Dolphin then introduced Assistant Administrator of the Office of Women’s Business Ownership (OWBO) Christina Hale to provide remarks.

Guest Remarks – Assistant Administrator Christina Hale

  • Assistant Administrator of OWBO Christina Hale introduced herself and shared more about her office before discussing the importance of empowering women in business.
  • She noted that women and people of color are leading the small business boom, remarking upon the uncertain conditions presented by the pandemic and the value of the Council’s efforts to bolster supports for women entrepreneurs through policy based on lessons learned.
  • Assistant Administrator Hale also recognized Executive Director Dolphin’s ten years of federal service.

Chair Address – NWBC Chair Sima Ladjevardian

  • NWBC Chair Sima Ladjevardian reviewed the various sections of the 2023 Annual Report before introducing the Council’s subcommittee chairs.

Deeper Dive into Policy – Subcommittee Chairs Roberta McCullough, Selena Rodgers Dickerson, and Kathy Cochran

  • Each of the Council’s three subcommittee chairs presented the recommendations found in the 2023 Annual Report from each of their subcommittees, which include Access to Capital and Opportunity, Women in STEM, and Inclusive Entrepreneurial Ecosystems.
  • After presenting each of their subcommittees respective recommendations, the subcommittee chairs shared two policy levers that resonated particularly strongly with them.
  • For Access to Capital and Opportunity:
  • The subcommittee’s first focus area was “Dollars That Go the Distance — Equitable Access to Diverse Sources of Business Financing.”
  • The two recommendations under this focus area were:
    • 1) Expand capital pathways for more Black, Indigenous, and people of color (BIPOC) women business owners and increase support for community-based incubators, accelerators, and resource partners, and
    • 2) Protect women entrepreneurs from predatory lenders and raise awareness about unfair financing terms.
  • The second focus area the subcommittee leaned into was “When One Door Opens — Increasing Federal Contracting Opportunities and Awards for Women-Owned Small Businesses (WOSBs).”
  • The two recommendations under this focus area were:
    • 1) Adequately resource and empower SBA’s WOSB Certification Program and the Offices of Small and Disadvantaged Business Utilization (OSDBUs) offices across the federal government to meet and exceed WOSB program goals, and
    • 2) Identify and highlight winning agencies, successful OSDBUs, and best practices.
  • For Women in STEM:
  • The subcommittee’s first focus area was, “The Future is Female — Women Entrepreneurs and High Growth Industries.”
  • The two recommendations encompassed by this focus area were:
    • 1) Ensure equitable advancement through women’s science, technology, engineering, and mathematics (STEM) entrepreneurial education, investment, and outreach, and
    • 2) Foster equitable opportunity for women entrepreneurs to lead 21st century industries by leveraging ongoing community development investments.
  • The second focus area presented by the subcommittee was, “(Best) Practice(s) Makes Perfect — Apprenticeships, Grants, and the STEM Pipeline.”
  • The two recommendations covered by this focus area were:
    • 1) Bolster workforce (re)entry and development efforts to get and keep more women in the STEM entrepreneurial pipeline, and
    • 2) Improve the incubator and accelerator system to help women advance more successfully through the STEM entrepreneurial pipeline.
  • The final focus area elevated by the Women in STEM Subcommittee was “A Bright Idea – Promoting and Protecting Women’s STEM Innovation.”
  • The two recommendations included under this focus area were: 
    • 1) Maintain a viable pathway to commercialization for women innovators, and
    • 2) Connect women innovators with the resources and information needed to claim ownership of and develop upon their innovations.
  • For Inclusive Entrepreneurial Ecosystems:
  • The first focus area pondered was, “Bridging Service Gaps in Underserved Communities — Improving Paid Family and Medical Leave (PFML) Options, Addressing a Lack of Reliable Care Economy Services, and Connecting to High-Speed, Affordable Broadband.”
  • Three recommendations presented under this focus area were:
    • 1) Champion state PFML efforts and a bipartisan national solution.
    • 2) Ensure accessible, reliable, and affordable child- and long-term-care services for women entrepreneurs in rural and underserved communities, and
    • 3) Bridge the women-owned small business digital divide by improving broadband access, speed, and affordability for more underserved women entrepreneurs.
  • The next focus area noted by the subcommittee was, “Positioning More WOSBs to Compete — Improving Women Entrepreneurs’ Financial Acumen, Access to Back Office Support, and Access to a Skilled Workforce.
  • Two recommendations covered under this focus area were:
    • 1) Connect women entrepreneurs to accessible wrap-around services, back-office resources, and affordable professional support, and
    • 2) Provide dedicated support for women-owned small businesses and ecosystem builders offering onsite assistance to diverse women entrepreneurs.
  • The final focus area the subcommittee uplifted was, “Strengthening Federal Coordination Efforts at the Ground Level — Connecting Tailored Federal Resources to Local Governance Entities and Trusted Community Partners.”
  • Its two accompanying recommendations were:
    • 1) Reestablish and authorize the Interagency Committee on Women’s Business Enterprise, and
    • 2) Enhance coordination of local, state, and federal entrepreneurial development and funding resources.

Research Docket – Public Affairs Manager Jordan Chapman and Dr. Izzy Schieber of dFusion

  • Public Affairs Manager Jordan Chapman presented the following highlights from the By the Numbers section of the 2023 NWBC Annual Report:
    • The top three and bottom three U.S. states when it comes to women’s economic clout are New York, North Carolina and Georgia at the top and Wyoming, Nebraska, and Kansas at the bottom.
    • The growth rate of women-owned employer and non-employer firms outpaced the growth rate of their male counterparts in recent years, with women’s share of employer firms reaching 10.2 percent and their share of non-employer firms reaching 42.2 percent in 2023.
    • If Black/African American women-owned businesses achieved the average revenue of men, they would add $1.5 trillion in revenue to the economy. Likewise, Latina women-owned businesses would add $1.3 trillion in revenue to the economy if their revenues matched men’s. 
    • Women-owned non employer firms tended to be younger than the average U.S. firm, while women-owned employer firms tended to be older than the average U.S. firm.
    • Non-citizen women are overrepresented as business owners: despite making up 8.2 percent of the population of U.S. women, they make up 11.8 percent of women business owners (the same is true for men).
    • There are a number of interesting trends related to employer/non-employer status, age, and gender, but one that stood out to us was that only 5.8 percent of women-owned employer firms are owned by a woman under the age of 35 and nearly half (48.9 percent) were over 55 years old.
    • Overall, women own at least 700,000 less firms in STEM than their male counterparts.
    • Black/African American, Native, and Hispanic/Latina women all are more likely to own businesses in STEM than their male counterpart.
    • The majority of STEM businesses are concentrated in the professional, scientific, and technical services sector. Male-owned firms in this sector outnumber their female counterparts by about 1.5x.
  • Dr. Izzy Schieber then provided an update on a research project commissioned by the Council focused on women’s participation in entrepreneurship in rural, tribal, and historically underserved communities.

2024 Outlook by Partner Organizations – Representatives from the Association of Women’s Business Centers (AWBC), the Women’s Business Enterprise National Council (WBENC), the Center for Women’s Entrepreneurial Leadership (CWEL), the National Association of Women Business Owners (NAWBO), and Small Business Majority

  • Organizations represented on the Council along with major partner organizations shared their respective 2024 policy priorities. The brief presentations were followed by a Q&A with Council Members.

AWBC Outlook – Roberta McCullough, Board Chair of AWBC

  • Roberta McCullough shared background on her work with AWBC as well as on her work with a Community Development Financial Institute (CDFI).
  • Through her presentation, she highlighted the importance of resource partners like women’s business centers (WBCs) and CDFIs in supporting underserved entrepreneurs.
  • She also told a story about a time she helped a friend receive business support. This friend knew that Roberta was involved in lending broadly, but needed reminding from Roberta that organizations like CDFIs exist and are there to support businesses like her friend’s when it comes to access to capital. The story also reiterated why representation in lending matters.
  • In 2024, she believes that big banks and corporations will need to provide greater investments to women by providing funding to CDFIs.

WBENC Outlook – Pamela Prince-Eason, CEO and President of WBENC

  • Pamela Prince-Eason began her remarks by noting that there are 14 million women-owned businesses, which make up 39.1 percent of all businesses, employ 12 million people and generate $2.6 trillion in revenue.
  • She also noted that gender parity in business ownership would add $7.9 trillion to the national GDP. If minority women business owners matched white women in revenue, $667 billion would be added to the economy. The value of equality to Pamela Prince-Eason cannot be understated.
  • Pamela Prince-Eason introduced the work of WBENC as a leading WOSB certifier as well as the work of Women Impacting Public Policy (WIPP) as a policy advocate for women entrepreneurs.
  • WBENC works to increase women’s representation in corporate America and break down barriers for women, including in access to capital, particularly when it comes to preventing negative outcomes associated with dilutive capital.
  • Access to procurement opportunities and workforce development/support are also key priorities.
  • Demystifying the global economy is another focus of WBENC, as they believe women should be competitive in the global economy, tariffs should be mitigated, and resources related to supply chain support should be accessible to all.
  • She mentioned WBENC’s Financial Center of Excellence and their LIFT model as two examples of programs aligned with these priorities and that ensure corporations are involved in business development opportunities for women.
  • Her call to action for participants was for them to be aware of attacks on diversity, equity, and inclusion, and understand the importance of gender parity transcends race and geography. The intent behind attacks on programs can be transformed to create stronger programs.

CWEL Outlook – Dr. Shakenna Williams, Executive Director of CWEL and Founder of BWEL

  • Dr. Williams introduced herself and provided details on Babson College, as well as CWEL.
  • CWEL will celebrate its 25th Anniversary this year, and Dr. Williams remarked upon the significance of CWEL’s establishment and her personal connection to the program.
  • The Center is well aligned with the Council’s work through the Diana International Research Institute, which leverages data to help create a clearer picture of the state of women’s entrepreneurship and the experiences of women on a global level.
  • The Center also focuses on access to capital and opportunity through their two signature accelerator programs, Women Innovating Now (WIN) Lab and Black Women’s Entrepreneurial Leadership program, both of which help women build networks, develop their skills and strengthen their support.
  • CWEL works to make an impact by providing listening to the entrepreneur and connecting them to resources. The foundation of their program is the Babson’s Entrepreneurial Thought and Action.
  • Her call to action was to support entrepreneurs and support research, which has been limited when it comes to women’s entrepreneurship. She also called for leaders to serve as speakers, mentors, and sponsors to create a shared voice and sisterhood.

NAWBO Outlook – Jen Earle, CEO of NAWBO

  • Jen Earle introduced herself and the work of NAWBO.
  • NAWBO was founded in 1975 when women were unable to join comparable organizations, and worked to make the case that women make a major impact on the economy.
  • The organization played a key role in the passage of H.R. 5050, the Women’s Business Ownership Act, which created NWBC.
  • One of NAWBO’s policy priorities is addressing the needs of microbusiness owners and encouraging emerging business owners. Most women-owned businesses are rather small, and the smallest of the small are often not considered when legislation is passed, and policies are created, so NAWBO wants to ensure resources reach these owners.
  • Another priority is accessing capital through increased financial literacy, education and digital tools. Business owners leverage their personal assets and have often lacked the resources and education needed to successfully scale.
  • The third priority is understanding workforce needs while the fourth relates to workplace flexibilities and the individual needs of business owners. This includes access to care and the ability to rely on independent contractors.
  • NAWBO’s work is guided by three pillars, including advocacy, leadership, and education.
  • They are currently working on a listening tour focused on microbusinesses with WIPP and invites other organizations to plug into the conversation.
  • NAWBO Institute is creating journeys from start to scale to succession that may also be of interest, and they are continuously educating leaders through their chapters across the country.
  • When women do well, economies do well, so making sure all women have equal access to resources and capital is important to NAWBO.
  • NAWBO is committed to making women feel including and empowered. A concern they are seeing is the level of exhaustion amongst business owners and they are also interested in creating an environment for the next generation to thrive.
  • NAWBO’s calls to action included subscribing to their newsletter, participating in their listening tour, and connecting with local women’s organizations to build communities.

Small Business Majority Outlook – Alexis D’Amato, Government Affairs Director of Small Business Majority

  • Alexis D’Amato introduced herself and shared background on the role of Small Business Majority as an advocate for business owners.
  • Women have been powering the economy, but challenges remain, as they have heard from their members. 2/3rds of their membership are women and 2/3rds are minorities.
  • Access to capital and contracts are two priorities, but other challenges that have been exacerbated post-pandemic are access to care and leave.
  • Three key themes have emerged from the 2024 policy agenda. The first of these is increasing equitable access to capital and opportunity, by supporting programs in SBA, Commerce, and Treasury, and advocating for more resources, safer lending options, and lending transparency laws.
  • The second theme is expanding a main street friendly workforce to help businesses create quality jobs, including by empowering business owners to offer benefits, advancing immigration reform, and workforce re-entry programs.
  • The third theme is fostering a level playing field for America’s small businesses, supporting policies to increase competition and those relating to tax benefits. 
  • These themes overlap with women’s entrepreneurship because Small Business Majority is interested in ensuring business owners have access to reproductive health and family care, promoting responsible lending, and protecting programs that support women like WBCs, SBDCs, SCORE, and more.
  • Small Business Majority is also interested in is the state small business credit initiative (SSBCI) and making sure the funding through the program is going to women and minority entrepreneurs.
  • Other examples of their advocacy are their support for providing businesses with equitable access to diverse sources of capital, advancing the borrower’s bill of rights, and working with Congress to support SBA programs through reauthorization.
  • Childcare and paid leave are two areas where they are seeking more input. They will be releasing a survey on childcare later this month, which connects to the fact that 1/3 of respondents to a previous survey reported that a lack of childcare is negatively impacting their business. The request for information from Congress on paid leave was also noted.
  • Lastly, their call to action was for business owners to take part in their small business councils and for advocacy groups to join their alliance for a resilient small business economy.

2024 Outlook Q&A – Council Members

  • Council Members posed questions to leaders of partner organizations concerning their presentations.
  • Council Member Samantha Abrams asked Roberta McCullough how to encourage greater connections with and education around CDFIs and how we can expand our definitions of success by which businesses are judged?
  • Roberta McCullough responded that all should reach out to their CDFIs to learn about how they can provide support. This especially important given that CDFIs are required to get recertified this year. She emphasized that CDFIs are mission-driven and around 60% of their clientele are minorities or rural.

Public Comments – Council Member Karen Clark Cole

  • Council Member Karen Clark Cole facilitated the Council’s response to comments from attendees.  
  • The first comment came from Kalyn Romaine, who spoke about the value of education, mentorship, and “serving as the plug” to connect women to resources. She asked what the Council would tell women entrepreneurs interested in building their networks.
  • Council Member Pamela Prince-Eason responded that all Council Member organizations are interested in finding women interested in serving as conduits to others, and WBENC is particularly interesting in paying women to take part in this work to break down barriers nationally and regionally.
  • Council Member Shakenna Williams added that building BWEL starts with entrepreneurs like Ms. Romaine. She noted that there are a lot of resources available and that these are not in competition, but rather complementary, before uplifting a few programs offered by Babson College.
  • Council Member Jenny Poon mentioned that as an entrepreneur herself she got value from building peer groups meeting every week. It allows her to share challenges, connect on problem-solving, and cross industries.
  • Council Member Selena Rodgers Dickerson responded that a lot of this comes down to mindset and goal-setting through vision boarding to get a better understanding of how to bring opportunities together. The intention around these exercises can be about paying it forward as well so that your name enters room where you are not present.
  • The second comment came from Azaira from ParentWatch who spoke about her organization’s work and appreciation for the existence of the Council.

Closing Remarks – Executive Director/Designated Federal Officer (DFO) Tené Dolphin

  • Executive Director/DFO Tené Dolphin concluded the meeting by thanking attendees for their participation and inviting all to stay connected with the Council’s work online and through future engagement opportunities.

***

Council Members

Outlook Conversation Participants

  • Roberta McCullough, Board Chair of the Association of Women Business Centers (AWBC) and Senior Vice President of Operations for Institute Capital
  • Pamela Prince-Eason, President and CEO of the Women’s Business Enterprise National Council (WBENC)
  • Dr. Shakenna Williams, Executive Director of the Center for Women’s Entrepreneurial Leadership (CWEL) at Babson College
  • Jen Earle, CEO of the National Association of Women Business Owners (NAWBO)
  • Alexis D’Amato, Government Affairs Director of Small Business Majority

NWBC Team

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The National Women’s Business Council (NWBC) held its second public meeting of Fiscal Year 2019 on May 17, 2019. This meeting was hosted by Council member, Dr. Marsha Firestone, at the Women Presidents’ Organization Headquarters in New York, NY.

Nina Roque, NWBC Executive Director, officially welcomed the newly installed Council members and the public to the meeting. Roque also outlined her role as the Designated Federal Officer of the Council and encouraged the public to provide comments and feedback on the Council’s work.

NWBC Chair Liz Sara then provided an update on the Council’s Fiscal Year 2019 events and engagement, including a recap of the Council’s October 25th public meeting  in celebration of its 30th Anniversary. Chair Sara also outlined the Council’s three priorities for the year: Rural Women’s Entrepreneurship, Women in S.T.E.M., and Access to Capital & Opportunity. “Let’s face it: women entrepreneurs confront numerous challenges in starting and growing companies,” said Chair Liz Sara. “By concentrating our focus, energy and talent to only three areas, we have a greater chance at accomplishing needed change and making a noticeable difference. As an entrepreneur all my career, I’m interested in getting things done so we can see results that matter,” she added. She then officially announced the Council’s ‘Women in Small Business Roundtable Series’, which will convene women business owners from across the country and serve as a springboard for the Council’s policy recommendations. 

Chair Sara then introduced the three subcommittee Chairs — Marygrace Sexton (Rural Women’s Entrepreneurship), Shelonda Stokes (Women in S.T.E.M), and Rebecca Contreras (Access to Capital & Opportunity) — and invited each Chair to provide an update on their subcommittee’s identified focus areas and upcoming initiatives. Council member Jessica Flynn presented on behalf of Ms. Sexton. 

Access to capital continues to be one of the biggest barriers for women entrepreneurs. Women-led firms struggle to obtain mainstream forms of funding and compete for federal contracts. NWBC looks forward to tackling the potential benefits of alternative financing solutions, such as crowdfunding, and better tailored training for the Women-Owned Small Business (WOSB) federal procurement program. Last Tuesday, the Small Business Administration (SBA) announced formal rulemaking to implement their statutory requirement to certify WOSB and Economically Disadvantaged Women-Owned Small Business Concerns (EDWOSB) participating in the WOSB program. NWBC plans to study and review SBA’s rule from now until July 8, 2019, when we will be taking the issue up to a full Council vote. We are requesting that the public provide feedback to NWBC by this date, so the Council can consider those comments when reaching a consensus on NWBC’s official recommendation to SBA.

The Council will also be engaging S.T.E.M stakeholders in discussions about the state of female participation in their fields of study. NWBC is committed to increasing opportunities and resources for women-owned and women-led businesses. This new Council is particularly interested in encouraging women-led businesses with high-growth aspirations and potential. Through the ‘Women in Small Business Roundtable Series,’ the Council looks forward to focusing on S.T.E.M Entrepreneurship and the impact that women have in these fields. NWBC will be hosting a S.T.E.M. Entrepreneurship Roundtable in Baltimore, Maryland, at the Women’s Business Enterprise National Council’s Annual Conference on June 25, 2019. With three Council members located in the area, this roundtable is sure to provide vibrant conversation and feedback surrounding the opportunities and challenges that women face in S.T.E.M.

The Council also hopes to gain further insight on the unique challenges faced by rural women entrepreneurs and identify untapped opportunities for growth. The Council’s ‘Rural Women Entrepreneurs: Challenges and Opportunities’ Report lays the foundation for sound policy and better-tailored economic empowerment initiatives in these regions. The Council intends to update and modernize its ‘Grow Her Business’ resources page housed on the NWBC website to reflect new tools available for women entrepreneurs with a specific focus on those in rural regions. A key partner of the Council in increasing awareness of available resources is the Women’s Business Center network. 

NWBC appreciates all who participated and made this meeting possible. Thank you to everyone on the call and in person, who was able to join in on the conversation. We look forward to reviewing your comments and continuing our advocacy on behalf of the estimated 12 million women-owned businesses in this country.

To provide any additional comments or feedback, or to participate in NWBC’s ‘Women in Small Business Roundtable Series,’ please email Ashley Judah at Ashley.Judah@Sba.gov.

The National Women’s Business Council (NWBC) held its third public meeting of Fiscal Year 2019 on September 24, 2019, at the U.S. Capitol Visitor Center in Washington, DC.

NWBC Executive Director Nina Roque welcomed Council Members and the public to the meeting. She then outlined her role as the Designated Federal Officer of the Council and detailed the ways in which the proceedings would accommodate the rules and regulations of the Federal Advisory Committee Act.

Therese Meers, Counsel for Ranking Member Ben Cardin (D-MD) on the Senate Small Business & Entrepreneurship Committee, then provided a brief overview of the Senator’s legislative priorities this Congress. She shared her personal story as a former small business owner and highlighted the programs and resources, including training at her local women’s business center, that helped her along the way.

Aneta Erdie, a representative from the U.S. Census Bureau, presented recently released 2018 Annual Business Survey results as they related to women-owned employer firms. As of 2017, there are 1.1 million women-owned employer firms in the United States – an increase of 100,000 from 2012. Erdie also provided an update on the Bureau’s pending project to develop statistics for non-employer firms.

Following the remarks from these key stakeholders, NWBC Chair Liz Sara provided a recap of the Council’s latest initiatives, including the ‘Women in Small Business Roundtable Series,’ the release of the ‘Rural Women’s Entrepreneurship: Challenges and Opportunities’ research report, and efforts to increase external engagement with the community. She declared, “Together, this new Council set out to engage with more women business owners than ever before; To reach out and listen to key stakeholders from across the country in locations that this Council has never visited before; To connect and collaborate with the Administration, especially the Small Business Administration and both Republican and Democrat members of Congress.”

Chair Sara then outlined the focus areas for each of the Council’s three Subcommittees and invited the leading Members to present their policy recommendations to the full body for approval. Council Member Rebecca Contreras spoke for the Access to Capital and Opportunity Subcommittee, Council Member Jess Flynn presented on behalf of the Rural Women’s Entrepreneurship Subcommittee, and Council Member Monica Stynchula spoke for the Women in STEM Subcommittee.

Contreras shared her subcommittee’s desired changes to the Women-Owned Small Business (WOSB) and Economically Disadvantaged Women-Owned Small Business (EDWSOB) Certification process. These reforms pertain to outreach efforts, criteria, and timelines for agency determinations. She then outlined a proposal for a Federal Angel Investment Tax Credit and expressed support for the Women and Minority Equity Investment Act, which would allow women-owned firms to accept venture capital and equity investments constituting more than 50 percent of the ownership of a firm and still maintain ownership and control of the business for purposes of WOSB or 8(a) contracting program certifications, so long as the venture capital or equity firm is also woman-owned.

Stynchula began her presentation with highlights from the STEM-focused roundtables in St. Petersburg, FL, and Baltimore, MD. She then shared her subcommittee’s interest in the application process for SBIR/STTR grants and urged more federal agencies to consider the value of an initial pitch phase for potential applicants to receive feedback. She also encouraged more comprehensive partnerships with HBCUs to increase overall participation in these valuable programs. Stynchula identified further areas of study for the U.S. Patenting and Trademark Office involving challenges for female innovators and expressed support for the Building Blocks of STEM Act, which pertains to the usage of National Science Foundation grants for underrepresented populations.

Flynn then shared her subcommittee’s recommendations to improve the Women’s Business Center program, including national market scans for the purpose of identifying new grant opportunities and the allocation of supplementary grant money for accessible, offsite training in underserved rural communities. She also encouraged improved data sharing between the SBA and the AWBC. Additionally, Flynn noted their desire to see the SBA and USDA develop an online playbook of case studies on rural entrepreneurial development. Finally, she expressed the subcommittee’s commitment to explore challenges surrounding rural broadband access during the next fiscal year.

Stay tuned for the complete list of policy recommendations in the Council’s 2019 Annual Report to Congress, the White House, and the SBA. NWBC appreciates all who made this meeting possible. Thank you to everyone on the call and in person who joined the conversation. We look forward to reviewing your feedback and continuing our advocacy on behalf of the nation’s female founders.

To provide any additional comments or feedback, please email Ashley Judah at Ashley.Judah@Sba.gov.

NWBC Public Meeting Recap

Update from NWBC Chair Liz Sara:

  • On May 21, 2020, the Council released a joint statement with SBA Administrator Jovita Carranza to reiterate our shared commitment to ensuring that women have increased opportunities to access capital, particularly as they navigate the pandemic.
  • We have moved our signature #LetsTalkBusiness Roundtable Series, which connects the voices of women entrepreneurs and business owners from across the country to policymakers in the Nation’s capital, to a virtual setting.
  • We recently held two webinars on CARES Act funding – “Learn How to Navigate the COVID-19 Stimulus Package” and “Community Lending Key to Main Street Recovery.”
    • This programming aimed to connect women entrepreneurs to necessary resources for utilizing stimulus relief.
  • NWBC Staff is working to formalize a partnership with the U.S. Census Bureau to ensure that we have accurate, up-to-date data tabulations of the shared landscape of women business owners (both employer and non-employer).
  • We are monitoring legislation to reconvene the Interagency Committee on Women’s Business Enterprise.
    • In light of efforts to better reach underserved communities with pandemic relief, there is no better time to revive this body and coordinate federal programming to empower women entrepreneurs.

Update from the Access to Capital & Opportunity Subcommittee:

Provided by Subcommittee Co-Chairs Pam Prince-Eason and Vanessa Dawson

  • We continue to monitor the distribution of Paycheck Protection Program funding.
    • Prioritizing the approval of CDFIs and minority depository institutions as eligible lenders will broaden the pool of capital access options and help reach small businesses in traditionally underserved communities, including urban minority and rural women-owned businesses.
  • On February 27, 2020, the Subcommittee held a roundtable in San Juan, Puerto Rico with Governor Wanda Garced Vazquez. The discussion highlighted a need for increased financial education and preparedness as well as a need to evaluate opportunity zones as a funding mechanism for women business owners.
  • We have been liaising extensively with key member agencies of the Financial Literacy and Education Commission (FLEC) to find ways to further leverage free federal resources.
  • We are concerned with the lack of publicly available data and tracking of female investors participating in Qualified Opportunity Funds, the number of women business owners in Qualified Opportunity Zones benefitting from infusion of capital, and/or the number of jobs created for women residing in Opportunity Zones.

Update from the Rural Women’s Entrepreneurship Subcommittee:

Provided by Subcommittee Chair Jess Flynn

  • Our primary focus areas include:
    • The economic impact of childcare availability and affordability and its burden on women’s entrepreneurship and business ownership.
    • The lack of reliable broadband in rural communities and the implications for home-based solopreneurs.
    • Prevailing challenges for Women’s Business Centers in reaching underserved audiences.
  • On May 27, 2020, the Subcommittee hosted a virtual roundtable on childcare with women business owners, organizational representatives, and government officials. Participants recognized the reliance of other sectors on this industry and highlighted the regulatory burdens for providers. Subsidies as well as grants to incentivize investments from local businesses were discussed.
  • We continue to monitor new grant placements for Women’s Business Centers to ensure that rural communities have equal opportunities. We were thrilled to see recent grants in West Virginia and South Carolina.

Update from the Women in STEM Subcommittee:

Provided by Subcommittee Chair Monica Stynchula

  • We are currently collaborating with the SBA’s Office of Investment and Innovation (OII) to develop a study on ‘Women-Owned Participation in SBIR and STTR Programs.’ We look forward to the report’s July release.
    • We are evaluating the level/number of applications and awards to women-owned businesses and considering the participation of women as Principal Investigators (PIs)/technical leads. We are also examining federal best practices—specifically for SBIR/STTR, the FAST Program, and Entrepreneurial Development resources like Growth Accelerators.
  • We continue engagement with key federal agencies such as the U.S. Patent and Trademark Office (USPTO) to identify major challenges faced by women in the patenting and trademark process
  • We are working to identify best practices and programs that provide resources, funding opportunities, and increased access to STEM role models and mentorship opportunities for female scientists, women business owners, and students in K-12, undergraduate, and graduate STEM education.
    • We hope to identify better ways to leverage HBCUs and MSIs.

Update from the Communications Subcommittee:

Provided by Subcommittee Chair Nicole Cober

  • Our mission is to better engage NWBC’s primary stakeholders through focused outreach and our Annual Report deliverable.
  • We aim to expand NWBC’s secondary audience, women business owners and entrepreneurs, by increasing webinar viewership and social media presence. This will allow us to elevate the voices of women in businesses and connect them to policymakers.

On January 29, 2020, the subcommittee launched NWBC’s #WebinarWednesday, a monthly, multi-series webinar that connects women entrepreneurs and business owners to key advocates, experts, and useful resources in order to bolster their knowledge and skills and elevate their entrepreneurial potential.

This meeting will allow the Council to recap its activity and engagement over the course of Fiscal Year 2020. Each of the Council’s four subcommittees (Access to Capital & Opportunity, Women in STEM, Rural Women’s Entrepreneurship, and Communications) will present their policy recommendations and current projects to the full body for deliberation. The public will have the opportunity to provide feedback.

Date: September 14, 2022

Scheduled Time:  12:30 PM – 2:30 PM EDT

Where: Virtual, ZOOM

Welcome & Opening Remarks

  • NWBC Executive Director/Designated Federal Officer (DFO) Tené Dolphin called the meeting to order at 12:32 p.m. EDT.
  • NWBC Executive Director/Designated Federal Officer (DFO) Tené Dolphin welcomed Council Members, guests, and the public to the meeting and delivered opening remarks.
    • Executive Director Dolphin highlighted engagements and transitions that occurred during fiscal year 2022, including the appointment of 5 new Council Members:
      • Jaime Gloshay, Co-Director of Native Women Lead
      • Roberta McCullough, Board Chair of the Association of Women’s Business Centers and Sr Vice President of Operations for Institute Capital
      • Selena Rodgers Dickerson, Founder and CEO of SARCOR LLC and Selene LLC
      • Dr. Shakenna Williams, Executive Director of the Center for Women’s Entrepreneurial Leadership and Black Women’s Entrepreneurial Leadership at Babson College
      • Pamela Prince-Eason, President and CEO of Women’s Business Enterprise National Council
    • She also shared basic information regarding federal advisory committees (FACAs). There are about 1,000 advisory committees with more than 60,000 members that advise the President and the Executive Branch on a myriad of issues as private citizens.
    • Along with that, she shared that this Federal Advisory Council is housed within the U.S. Small Business Administration (SBA) and provides advice and counsel to the President, Congress and SBA Administrator on issues deemed important to women business owners and entrepreneurs. She then outlined the structure of the Council.
    • After which, she noted this meeting is public:
      • It was appropriately noticed on the Federal Register.
      • All meeting materials and public comments received prior to this meeting and during the meeting, will be made available for public inspection as well as prepared minutes recapping the discussion which will be made available to the public within 90 calendar days. 
      • In addition to receiving critical updates from SBA leadership and officials, Executive Director Dolphin commented that the purpose of today’s meeting is to review and vote upon policy recommendations for the NWBC’s 2022 Annual Report. These recommendations were based on research, internal meetings, meetings with external stakeholders, input from subject matter experts, and other public engagements.
    • Executive Director Dolphin concluded by explaining the agenda for the rest of the meeting and providing background on the Council’s three subcommittees:  Access to Capital & Opportunity, Women in STEM, and Rural Women’s Entrepreneurship.
  • Roll Call was taken. The following Council Members were in attendance:
    • Maria Rios
    • Roberta McCullough
    • Jaime Gloshay
    • Dr. Shakenna Williams
    • Selena Rodgers Dickerson
    • Pamela Prince-Eason
  • Executive Director Dolphin then introduced the guest speaker for the meeting, Diedra Henry-Spires, Senior Advisor to the Administrator of the U.S. Small Business Administration.

Remarks from Diedra Henry-Spires

  • During her remarks, Senior Advisor Diedra Henry-Spires touched upon the following topics:
    • The commitment of SBA to supporting women business owners
    • Major SBA and Office of Women’s Business Ownership (OWBO) accomplishments and talking points from the previous fiscal year such as:
      • The expansion of women’s business centers (WBCs) to 146, now covering each U.S. state
      • The opening of three WBCs in Puerto Rico, a signal of dedication to supporting the territory’s economic recovery
      • The role of women business owners in supporting disaster relief efforts in their community
      • New and ongoing partnerships with historically Black colleges and universities (HBCUs) and minority-serving institutes (MSIs)
      • The inaugural Women’s Business Summit, which will occur once again this year and reached an audience of over 20,000 participants
    • Focus areas for the upcoming fiscal year including:
      • Highlighting best practices to increase women business owners’ access to capital, especially when it comes to venture capital (VC)
      • Continuing to foster a whole-of-government and whole-of-SBA approach to supporting businesses
      • The importance of the childcare industry, both to the small business owners who depend on it as well as those who own childcare businesses
    • The continued collaboration between NWBC, OWBO, and SBA in delivering impactful work to communities
    • The significance of the work of the Council in supporting communities, encouraging policy changes for the better, and promoting bipartisanship
  • Executive Director Dolphin thanked Senior Advisor to the Administrator of SBA Diedra Henry-Spires for her participation and transitioned to the presentation of the FY 2022 NWBC policy recommendations.
  • Council Members Jaime Gloshay, Selena Rodgers Dickerson, and Dr. Shakenna Williams presented NWBC’s fiscal year 2022 policy recommendations covering: Access to Capital & Opportunity, Women in STEM, and Rural Women’s Entrepreneurship

Presentation of Policy Recommendations & Vote:

Access to Capital & Opportunity Subcommittee

  • Council Member Jaime Gloshay presented this subcommittee’s policy recommendations, which included the following:
    • Showcase the Policy “Wins” for Women in Business and Work Toward Systemic Change
      • NWBC recommends that the White House/White House Gender Policy Council (GPC) should develop a list of recent “policy wins” for women, including policy changes which show promise for advancing women’s business enterprise, for example changes aimed at helping to close the entrepreneurial development, financing, and federal contracting gender gap.
    • But First, Just Fund Her:  Create a Financing Bridge to a “Capital Stack” and Promote WOSB Growth
      • The Council encourages Congress and the SBA to continue improving accessibility to all SBA lending programs, by closely examining the needs and lived experiences of startup and scale up women-owned small businesses (WOSBs), ensuring there are no training prerequisites to funding, and reassessing lending criteria, product affordability, and innovative repayment flexibilities.
    • Define “Microbusiness” and Reconsider Debt Relief Options for Micro- and Small Women-Owned Enterprises Impacted by Global Disruptions
      • NWBC recommends that Congress should develop and provide a uniform definition for a microbusiness. Additionally, Congress and SBA should reconsider expanding debt relief options for certain 7(a), 504, and microloan borrowers, prioritizing the needs of economically disadvantaged micro- and small business borrowers in industries with significant female participation, particularly those severely impacted by pandemic-related global supply chain issues or other major global economic disruptions.
    • Advance and Grow a Community of Women Investing in Women-Owned Businesses
      • The Council recommends that the Administration provide grants to fund the creation of new firms or to boost recently established VC firms, emphasizing those with under $50 million and with less than three years of operation.
      • The Council recommends that Congress should hold a hearing to explore best practices and viable policy changes which may help incentivize traditional financial institutions and VC firms to increase the representation of women fund managers and actual investments in diverse, women-owned businesses.
    • Continue to Strengthen and Work Toward Parity for the WOSB/EDWOSB Federal Contracting Program
      • The NWBC lauds the Administration’s focus to increase federal contracting opportunities for more women and minority small business owners and encourages the SBA to continue examining viable and effective methods to improve the tracking and public sharing of disaggregated data on both federal women-owned prime contracting and WOSB/EDWOSB awards.
      • The NWBC supports SBA’s continued efforts to streamline and reduce wait times on WOSB certification and encourages it to expand its outreach and education efforts on the WOSB/EDWOSB certification process and resources, prioritizing women business owners in economically disadvantaged communities. Additionally, to ensure streamlining and improve response, the Council respectfully encourages Congress to identify an appropriate level of funding for the program.
      • The NWBC encourages Congress and SBA to consider enhancing current efforts underway to improve contracting officers’ (CO)/the federal acquisition community’s training, so they are more knowledgeable and empowered to leverage WOSB/EDWOSB set-aside or sole source awards.
      • The NWBC urges SBA to continue to work with federal agencies and the National Economic Council to identify a higher WOSB/EDWOSB spending goal above the current 5% goal, for example to 7% or higher.
      • The Council recommends that Congress should consider implementing a federal flow down requirement for all federal acquisition needs, particularly for procurement opportunities connected to the implementation of the 2021 Bipartisan Infrastructure Law (BIL).
    • Fund, Expand, and Tailor Federal Financial Capability Resources for Women Small Business Owners
      • The Council recommends that Congress and/or SBA should provide dedicated financial literacy/capability funding for women small business owners so that they are better informed and empowered to skill up on maximizing cash flow to support their operations. For example, financial business capability grants would, at a minimum, focus on cash flow management, creating a business plan, hiring a new employee, and succession planning.
    • Provide Additional Relief for WOSBs Impacted by Ongoing Supply Chain Disruptions and Workforce Availability Issues
      • The Council recommends that Congress should consider viable options for expanding tax relief for small business owners severely impacted by global supply chain disruptions and workforce availability issues, emphasizing relief for businesses in industries with a significant level of participation by women and minorities.
  • NWBC Executive Director/DFO Tené Dolphin called for the Council Members to vote.
    • All Council Members voted to adopt the Access to Capital & Opportunity policy recommendations for fiscal year 2022.

***

Women in STEM Subcommittee

  • Council Member Selena Rodgers Dickerson presented this subcommittee’s policy recommendations, which included the following:
    • Women in Academic Innovation
      • NWBC recommends that the White House should suggest that universities successfully implement a “Diversity and Inclusion Plan” as a requirement to obtaining federal research grants.
      • NWBC recommends that Congress should amend the proposed Women and Minorities in STEM Booster Act of 2021 to include an entrepreneurial focus and training on taking STEM products to market.
      • NWBC recommends that SBA should incentivize Women’s Business Center (WBC) grantees to partner with local universities and tech transfer offices to provide mentorship, idea-sharing on best practices, and opportunities for real-world work experience and application of insights.
    • High-Yield and High-Growth Fields with Low Levels of Representation
      • NWBC recommends that the Administration’s implementation of the Bipartisan Infrastructure Law (BIL) should emphasize and prioritize women and women of color to ensure fair access to actual contracting awards through focused outreach, education, and data collection.
      • NWBC recommends that Congress should expand the definition of “accelerator” to include the architecture, engineering, and construction (AEC) industries in proposed legislation, for example in the Startup Opportunity Accelerator (SOAR) Act. This piece of legislation should also prioritize women entrepreneurs.
      • NWBC recommends that our Council commission research focusing on both high yield (STEM) and high growth industries (currently AEC), as well as industries with an over-representation of women but with undervaluation (healthcare).
    • The STEM Pipeline
      • NWBC recommends that Congress should ensure women entrepreneurs and workers re-entering the labor force have fair access to training and targeted assistance opportunities (STEM RESTART Act). This training and assistance could be delivered as part of a collaboration between academia, entrepreneurial ecosystem builders, and small businesses.
      • NWBC recommends that Congress should invest in STEM education and career outreach at the primary and secondary education level through legislation such as HR 5893 (21st Century STEM for Girls and Underrepresented Minorities Act) and HR 7251 (Getting Involved in Researching, Learning, and Studying of Science, Technology, Engineering, and Mathematics Act or the GIRLS STEM Act). Legislation with a STEM educational outreach component should integrate entrepreneurial education and have a robust definition of STEM that also includes the AEC industries.
      • NWBC recommends that the SBA should encourage SCORE to bolster its online mentorship to ensure that mentor opportunities are not limited geographically and cut across industries. WBCs should provide or enhance complementary support services, leveraging their networks and other SBA resource partners including Community Navigators to deliver tailored and industry-specific support to diverse women entrepreneurs. SBA could support these initiatives by creating additional industry-specific resources in the Ascent platform.
  • NWBC Executive Director/DFO Tené Dolphin called for the Council Members to vote.
    • All Council Members voted to adopt the Women in STEM policy recommendations for fiscal year 2022.

***

Rural Women’s Entrepreneurship Subcommittee

  • Council Member Shakenna Williams presented this subcommittee’s policy recommendations, which included the following:
    • Persistent Barriers to Rural Women’s Entrepreneurship:  Lack of Affordable Child Care and Equitable Paid Family and Medical Leave (PFML)
      • The Council recommends that the White House should identify the most appropriate federal agencies to further enhance outreach and education to small businesses on national PFML solutions. Additionally, the Council respectfully encourages Congress to hold new hearings to explore how a national PFML solution could potentially make U.S. small businesses more competitive at home and abroad.
      • The Council recommends that the White House develop a plan of action which would further empower SBA to improve and expand entrepreneurial development resources and affordable financing for the hardest hit childcare and care economy businesses, particularly in rural, rural/tribal, and other underserved communities.
    • Gaining Fresh Insights on Rural Ecosystems:  Workforce Development Issues, Local Governance, and Capacity Issues Impacting Rural and Tribal Women Entrepreneurs
      • We recommend that NWBC should conduct a landscape analysis in fiscal year 2023 to better assess the effectiveness of current entrepreneurial ecosystems, technical assistance capacity, local governance issues, and the “brain drain” impacting rural WOSB/EDWOSB growth. The study should also identify effective program models to improve engagement of women entrepreneurs in tribal and immigrant communities.
    • Empowering Rural Women Entrepreneurs to Thrive in Tomorrow’s Global Economy, Today
      • The Council recommends that the Administration and/or SBA should encourage WBCs, universities, and local incubators and accelerators to improve and expand outreach, mentoring, and training so that increased numbers of diverse rural women entrepreneurs are strongly positioned to take advantage of tomorrow’s tech and green market opportunities.
      • The Council recommends that SBA provide supplemental funding for WBCs partnering with Workforce Opportunity for Rural Communities (WORC) grantees, to assist women-owned businesses in identifying skilled rural workers, including those trained to fill tech and green jobs.
    • Enhancing Federal Support and Coordinated and Accessible Resources for Rural Women Entrepreneurs
      • The Council recommends that the White House should continue its collaborative work with the U.S. Department of Agriculture (USDA) and encourage a strategic alliance with the Rural Prosperity Interagency Council (RPIC) and Rural Partners Network (RPN) to prioritize increased outreach and support for rural and women business owners. Additionally, it should further help disseminate best practices on outreach, available wrap-around services, and federal entrepreneurial development resources and funding opportunities.
    • Down to The Roots:  Leveraging Community-Based Supports to Bolster Rural Women Entrepreneurs
      • The Council recommends that SBA’s Office of Women’s Business Ownership (OWBO) should continue supporting WBCs to help them enhance coordination with procurement technical assistance centers (PTACs) and other small business resource partners to better assist rural women business owners interested in pursuing federal contracting opportunities, including by leveraging referrals and instituting robust benchmarks and metrics.
      • The Council recommends that the SBA should continue monitoring Community Navigators Hub and Spoke organizations to ensure active outreach to and engagement of women entrepreneurs, instituting robust benchmarks and metrics for these efforts.
  • NWBC Executive Director/DFO Tené Dolphin called for the Council Members to vote.
    • All Council Members voted to adopt the Rural Women’s Entrepreneurship policy recommendations for fiscal year 2022.

Public Comments

Public Comments & Questions with Responses

  • Council Member Roberta McCullough moderated public comments—presenting questions, comments and responses.
  • The first question came from Ms. Lindora Baker.  She asked, “How do you become a member of NWBC?”  The Council offered the following response:
    • Thank you, Lindora!  That is a great question.  National Women’s Business Council Members are appointed based on recommendations from the President, members of Congress, the SBA Administrator or current Council Members and staff.  They are seasoned entrepreneurs and dedicated women’s business enterprise advocates, recognized for adding value to our country and society, and are located in a variety of locations from Texas to Massachusetts.
  • The Council also received a comment from Suzanne Aguirre, who said that she is “attending to learn more and keep up-to-date on NWBC information.”  The Council offered the following response:
    • Thanks, Suzanne!  We invite you to stay engaged with NWBC by subscribing to receive updates from our Council at www.nwbc.gov.  We urge you to join the conversation via our social channels, including on Twitter, @NWBC, and on Instagram, @NWBCgov.  You can also find us, of course, on LinkedIn and Facebook.
  • The final comment came from Thomas Tetonnette.  He shared that he was “Looking forward to learning more about your organization and if it will be something I can refer to my clients; for their business growth and involvement.”  The Council offered the following response:
    • Thank you for sharing this comment with us, Thomas!  It provides us with a fantastic opportunity to clarify our own work and share more about work being done by others.  While we are not a programmatic office per se, our mission does involve keeping tabs on national women’s business enterprise issues, programs, resources, and policy trends.  To get a general overview of resources that support women’s entrepreneurship, be sure to check out the Resiliency Resources section of our 2021 Annual Report.  This section provides a thorough catalog of resources that can be of use to your clients.
    • We would also recommend women entrepreneurs at any stage of their entrepreneurial development consider checking out SBA’s Learning Platform, along with their women business ownership-focused Ascent Platform.  When it comes to community-level support, women business owners cannot go wrong by connecting with their local Women’s Business Center, visiting the nearest Small Business Development Center, or considering mentoring opportunities with the SCORE program.

Executive Director/DFO Tené Dolphin thanked all Council Members, guests, and the public for joining and adjourned the meeting at 1:45 p.m. ET.

Date: May 3, 2022

Time:  12:30 PM – 2:30 PM EDT

Where: Virtual, ZOOM

Welcome & Opening Remarks

  • NWBC Executive Director/Designated Federal Officer (DFO) Tené Dolphin called the meeting to order at 12:33 p.m. EDT.
  • NWBC Executive Director/Designated Federal Officer (DFO) Tené Dolphin welcomed Council Members, presenters and the public to the meeting and delivered opening remarks.
    • Executive Director Dolphin recognized National Small Business Week: “Happy National Small Business Week. Women business owners have continued to demonstrate that they are resilient. They have triumphed over adversity before and are doing that once again. NWBC continues to ask the hard questions—to spearhead the research, and share impactful programmatic and policy recommendations that help make the entrepreneurial journey more inclusive and more equitable.”
    • She also highlighted the 2021 Annual Report, which includes a summary of the Council’s digital and social media engagement, features an overview of NWBC’s interagency agreement with the U.S. Census Bureau, and presents this Council’s priorities and policy recommendations.
    • She also acknowledged and highlighted:
      • The Access to Capital and Opportunity roundtable convened on February 4th, 2022 where key stakeholders discussed the barriers BIPOC women business owners face to gain equitable financing.
      • SBA’s Office of Women’s Business Ownership Women’s Summit which took place during Women’s History Month
    • She then presented NWBC’s three new Council Members:
      • Jaime Gloshay, Co-Director of Native Women Lead (NWL)
      • Roberta McCullough, Chair of the Board of the Association of Women’s Business Centers (AWBC) and Senior VP of the National Institute of Minority Economic Development
      • Dr. Shakenna Williams, Executive Director for the Center for Women’s Entrepreneurial Leadership (CWEL) at Babson College
    • She also shared basic information regarding FACAs. There are about 1,000 advisory committees with more than 60,000 members that advise the President and the Executive Branch on a myriad of issues as private citizens.
    • This Federal Advisory Council is housed within the Small Business Administration and provides advice and counsel to the President, Congress and SBA Administrator on issues deemed important to women business owners and entrepreneurs.
    • Noted this meeting is public:
      • It was appropriately noticed on the Federal Register.
      • All meeting materials and public comments received prior to this meeting and during the meeting, will be made available for public inspection as well as prepared minutes recapping the discussion which will be made available to the public within 90 calendar days. 
      • In addition to receiving critical updates from SBA leadership and officials, Executive Director Dolphin commented that the purpose of today’s meeting is to update the Council’s deliberations and work over the past year, which will eventually result in a set of policy recommendations to be voted during the next public meeting in late September and formally presented to the President, Congress, and the SBA Administrator in an Annual Report.
  • Roll Call was taken. The following Council Members were in attendance:
    • Rebecca Hamilton
    • Maria Rios
    • Roberta McCullough
    • Jaime Gloshay
    • Dr. Shakenna Williams
  • Executive Director Dolphin made some administrative announcements and then transitioned to national experts.

Introductions & Start of Presentations

  • NWBC Executive Director Dolphin introduced Senior Policy Advisor Sandra Mayoral Pedroarias who currently helps lead the development of the annual policy recommendations. She delivered brief opening remarks and introduced guest speakers:
    • Pam Prince-Eason, President & CEO, Women’s Business Enterprise National Council (WBENC) 
    • Candace Waterman, President & CEO, Women Impacting Public Policy (WIPP)
    • Karen Bennetts, Chair-Elect, National Association of Women Business Owners (NAWBO), and Founder of Little Red Bird.
  • Sandra Pedroarias turned over the discussion first to Candace Waterman.
  • Candance Waterman’s presentation key takeaways:
    • Thanked Executive Director Dolphin and the NWBC team for their leadership and welcomed members and guests.
    • Overview of WIPP
      • “[A] … national nonpartisan organization on Capitol Hill for women in business representing the over 12.9 million women on businesses to ensure that you not only have a seat at the table, but you have your voice at that table and that you understand your voice at that table.”
      • The ACE Principle
        • A WIPP Member value – Advocacy, Community, Education.
        • Ensures success and sustainability in business
      • Policy Priorities
        • Create equity, equality, and parity for WOSBs in federal contracting
          • “… we know that is where real sustainability occurs for our businesses. You know, it took us two decades to ensure that we have a formal program, and I am excited to say that we were able to have impact on those discussions and … influence in the infrastructure program…”
        • Increase capital for women-owned businesses
          • “…we know that access to capital is not just our gateway to starting businesses but certainly to growing our businesses […] we have to ensure that we’re advocating for [it] daily…”
        • Rethink workplace development
          • “We are talking health care, child tax credits, the gig economy, all those layers that really impact women-owned businesses across the country as they are employing their team members providing health benefits. So, we want to ensure at the end of the day that the playing field is level for women in business from a 360 perspective.”
        • Broadband and infrastructure improvements
          • “…We need access to each other so broadband access and affordability is critically important to our women business owners in all corners of the country, including the rural areas.”
        • Demystify global economics
          • “…We have to be abreast of what is going on from a supply chain perspective. We have to look at those policies that are impeding us in many ways along with that would be tariffs and certainly compliance so we work very hard to ensure again that any policy that can impact women businesses…”
    • Ms. Waterman explained the dual role/intersectionality that exists in business: Business and Advocacy.
      • Policy enacted each day affects how you run any business, making it critical to be an advocate within your own business, creating that duality.
        • “… it is critical to understand your industry so that you know where you fit in. Are you able to do direct work with your corporations or the government or should that be indirect where you seek out a tier-two opportunity…”?
        • Make your company recession-proof by investing time in private and public sector opportunities.
        • Develop relationships, as people build best with people they know.
        • Your voice is invaluable, making networking/advocacy… “where sustainable change occurs for businesses across the country.”
        • Become familiar with the policymakers in your area.
        • Get involved and stay connected.
          • “Write, call, meet, spend time at your policy maker’s office, go meet with them.”
          • “The way that they know how to help businesses is to have real-life information and understand the challenges that you are experiencing, but also tell them where they’ve done things right if they’ve made policy, supported policy that has assisted your businesses and being successful”.
    • Ms. Waterman also highlighted WIPP’s upcoming events, including the organization’s participation at the WBENC conference in Atlanta, Georgia from June 7th through the 9th 2022. “Meet us at WBENC – Booth 501!” She also shared engagement options with WIPP via social media in her closing remarks.
  • Pam Prince-Eason’s presentation key take aways:
    • She first provided an overview of WBENC:
      • WBENC’s mission is to “…fuel economic growth globally through access to opportunities, by identifying, certifying, and facilitating development of women-owned businesses.”
      • Like WIPP’s ACE values, WBENC’s CORE Platform consists of:
        • Certification
        • Opportunities
        • Resources
        • Engagement
      • WBENC Community: 18,000 + Women Owned Businesses certified with WBENC, 487 corporate members, 14 regional partner organizations, 1 national partner organization.
    • Prince-Eason emphasized the national network and events that are supported by corporate partners and the federal government.
    • Prince-Eason delved into the opportunities and programs led by WBENC:
      • WBENC programs for executive education (We Ignite, WBENC Lift, Women In Technology, etc.), to hone skills on leadership and methods of growth.
      • WBENC projects for networking & engagement (Women & PRIDE, Women Owned in Retail, etc.), open to all women business owners. Attendees of events do not need to have a WBENC-Certified company.
      • WBENC initiatives for pitch opportunities (WBENC Pitch, Collegiate Accelerator, etc.), which awards grant money in tournament-style pitch competitions, and student accelerator programs fostering next-gen women entrepreneurs.
        • “… we are taking a very specific action to ensure that the unique challenges for our women of color are looked at specifically for our black women for our Indian women for our Hispanic women etc. So each of those breakdowns we ensure that not only we address women of color in general, which is important, but more specifically the unique challenges faced…”.
    • Prince-Eason gave closing remarks, and reflected on transparency, that which is needed in this industry.
  • Karen Bennetts’ presentation key takeaways:
    • Bennetts first shared NAWBO’s mission and vision, which compels women to be propelled to the political, economic, and social spheres of power of national and international stages.
      • Bolstering economic development
      • Building strategic alliances
      • Influencing opinion makers and public policy
      • “… what’s really important to our organization and what we build our programs and our initiatives around … just a couple of … examples range from our Launch Right program, which is a program we’re working on with our partner at Wells Fargo. It’s a startup program for women who are exiting the workforce in rural regions […] and marginalized socio-economic communities.”
    • NAWBO rigorously seeks to fully represent the full diversity of women business owners and “… equitably expand access to leadership.”.
    • NAWBO has aided in passing H.R. 5050, making its advocacy for women in business a priority. Utilizing a bipartisan approach allows women business owners on either end of the political scale to have a uniform voice.
    • She also provided an overview of the 2022 Advocacy Agenda:
      • Addressing the needs of “microbusinesses” and encouraging emerging entrepreneurs
      • Addressing the “Hiring Squeeze”
      • Implementation of the Bipartisan Infrastructure Act: Broadband Expansion
      • Accessing Capital through Increased Financial Literacy Education
    • Bennetts then delved into strategic planning for what is next after H.R. 5050
      • Creating a Network of Financial Professionals
        • “…women business owners would benefit from increased opportunities to learn about the importance of investing money into their businesses to grow and scale,” noting how critically important financial education is in this regard.
        • Ms. Bennetts also cited a NAWBO survey noting that close to 70% of its participating members save for retirement but only just over 50% have a succession plan in place.
      • The importance of WBOs investing in themselves and in their businesses to expand the business.
      • And the organization requesting that Congress define and codify “Microbusiness” to be used by all federal agencies.
        • The differentiation between microbusiness and small business permits the increased access to capital and procurement opportunities.
    • Karen Bennetts closed by thanking NWBC before passing on the floor to Executive Director Dolphin.
  • Executive Director Dolphin then introduced guest presenter Dr. Adji Fatou Diagne, who serves as a research economist at the Center for Economic Studies for the U.S. Census Bureau.
    • Dr. Fatou Diagne has played an integral role in the survey life cycle from data collection to data dissemination in regard to non-employer business statistics demographics data.
    • She also received MA and PhD from the Howard University, and BA from Spelman College.
  • Dr. Adji Fatou Diagne delivered a presentation entitled “The State of Women’s Entrepreneurship: By the Numbers”. Below are some of the notable datapoints shared:
    • Entrepreneurs are responsible for economic growth in all sectors of the economy, and women contribute significantly with respect to both employer and non-employer owned businesses.
      • Despite this, WBOs tend to be smaller companies and generate less revenue.
        • “…about 20.5 percent of women owned employer businesses had sales of one million dollars or more compared to 30.7 percent for the men.”
      • There continues to be differentiation based on race, as “…employer businesses are more likely to be non-Hispanic white and Asian-owned with 75.4 percent and 13.8 percent employer businesses respectively, versus 64.6 percent and 7.9 percent non-employee ones respectively Hispanic, black, African American businesses tend to not have paid employees.”
    • Additionally, WBOs are heavily concentrated in industries such as healthcare (14.5%), professional and scientific services (14.3%) and accommodation and food services (3.3%).
      • The catastrophic impact of the pandemic on women entrepreneurship proved to be substantial, as “… women made up 74.8 percent of workers in education and health services in 2019 but represented the lion’s share of these job losses in that sector at 78.8 percent”.
    • From the 2021 Annual Business Survey, 38.3% of women business owners reported that “total sales decreased significantly” while only 31.3% of men reported this.
    • When accessing capital, 62.3 of women reported seeking financing to meet operating expenses versus 54.6 for men.
      • “These figures are in line with previous research finding that women sort of seek capital to expand businesses less compared to men. Despite their size and revenues women entrepreneurship’s growth potential is significant”.
    • Dr. Fatou Diagne closed out by noting that the “future looks bright” with said figures. Plenty of work is being done in favor of WBOs and growth rates continue to rise.

Public Comments & Q&A

  • Executive Director Dolphin introduced Council Member Maria Rios who presented selected public comments.
    • The first comment Clara Paciuete, was from business owner of SimplValue and Araf, owner of the Simple Value and Arra Forre from Country Sales.
      • Arra Forre: “Greetings! Thanks for this wonderful info. I am looking into how to get funding and help for my small business. Any help is greatly appreciated.”
      • Clara Paciuete: “Regarding small business funding for women business owners with no capital or credit, how can women get ahead without starting capital or federal state support?”
        • Answer from Maria Rios: “Thank you Clara and Araf for your comments and questions. Equitable financing issues are a top priority for this Council, and we remain laser-focused on how to ensure we level the playing field for more women founders and business owners. That said, for women business owners just starting out, please be aware that a good place to start might be the SBA’s microloan program which provides $50,000 or less to help a business startup or even expand and grow it. There are also other SBA loan guarantee programs, including the agency flagship 7(a) loan program and the 504 long-term fixed rate financing loan to help you purchase or repair real estate, equipment, machinery or other companies’ assets. There are even loans for exporters and the SBA Lender Match tool to help you connect to potential SBA lenders. All that information is available at www.sba.gov”
    • The next comment comes from Leslie Aaron from Pleasant Renewal:
      • Leslie Aaron: “Women need vacation time because they are often juggling two jobs, family life, and entrepreneurial opportunities or career outside the home. Placing value on women sends a positive message.”
        • Answer from Maria Rios: “Absolutely Leslie. Generally speaking, women entrepreneurs do tend to handle so much, juggling both business and domestic concerns. In fact, the onset on the pandemic has revealed long-standing inequities and imbalances, not only in terms of lack of equitable access to capital, but also lack of affordable and reliable access to child or other home care options. There is certainly an imbalance in domestic responsibilities that creates a significant barrier to entrepreneurship and costs women more, in terms of assessing capital, opportunities for contracting and building wealth. As well as in terms of self-care and both personal and professional development in recent years the Council has explored how lack of access to affordable and reliable childcare especially in childcare deserts has created a barrier to entrepreneurship. This year we have also started exploring how a lack of paid family and medical leave options for both workers and women entrepreneurs creates barriers to small business and overall economic growth. So, I will agree that placing value on female talent, time, and potential does send a positive message, but impactful policy change can also help American small businesses and our whole national economy. I for one look forward to working with my fellow council members to bring this sort of change about. Thank you.”
    • The final comment comes from Harmeet Kholi, President of Bhagwanti Management Inc.
      • Harmeet Kholi: “I am a minority small businesswoman running gas stations in a male dominated field. Need some help with resources and to build my own confidence.”
        • Answer from Maria Rios: “That is incredible Harmeet, congratulations! I understand you very well and I feel you. I built a business from the ground up in a male dominated industry, and I understand just how challenging that can be. I currently serve as the President and CEO of Nation Waste Inc. (NWI) and I’m proud to share that NWI is [the first] fully certified multi-million dollar female Hispanic-owned waste removal company in the United States history and one of the largest minority-owned companies in the state of Texas. We are a fully certified commercial disposal company specializing in construction, demolition, commercial industrial not hazardous waste removal portable toilet recycling services…”
        • “I know but I don’t have to tell you, this takes a lot of work dedication and also reaching out to help from others from mentors also resources providers like SBA’s resource partners that are there to provide or direct you to a technical assistant and government nonprofit entrepreneurial training, as well financial resources. One good place to start is by assessing SBA’s Ascent platform, a free learning platform for women entrepreneurs. The Ascent platform is divided into major topics called journeys developed by experts in women entrepreneurship within this journey you will find excursions with the tools you need to master a topic. Whether it is marketing, access to capital, disaster recovery, development, your business strategy, your people and SBA continues to add new information tailored, especially to women entrepreneurs ready to grow their business.
        • “www.sba.gov has a resource locator page where you can just plug in your location to identify your nearest women business center (WBC) or small business development center. There is now a WBC in each of the 50 states, just click on the locator assistance tab at the top of the webpage to find a resource partner …”
    • Maria Rios closed her remarks by thanking the public for their voicing their concerns and questions.
  • Executive Director Dolphin then moved to the Q&A portion if the meeting:
    • Starting with the first question: “We are very excited about the increase in the WOSB set-aside, and percentage of federal contracts, however we have two primary concerns or questions. One, how will the federal agencies and prime contract holders be accountable to meeting those percentages?  How do we address the lack of WOSB contracts and significantly underrepresented NAICS areas, primarily STEM, software, tech and digital services?”
      • Answer from Candace Waterman: “Well within our wheelhouse and certainly policy that you know we advocated on behalf of the women-owned small business program. So, I would say first of all the answer is yes and we will. There has to be accountability and clear and transparent accountability. I actually serve on the Council for Underserved Communities with the SBA, and we are actually having this particular conversation right now around putting in place compliance and accountability reporting to ensure that as this increase occurs, we’re holding the agencies and the primes accountable. Part of that reporting is not just saying here’s the number, but really having disaggregated reporting on the number, so we can know how many contracts were available, how many of those contracts went to [WOSBs], the number of WOSBs and EDWOSBs that those contracts went to and then also the dollar amount of those contracts. Because we know through the Infrastructure Bill we have a lot of contracts and spending on the horizon and we want to ensure again equality, equity, and parity for of our socio-economic classes with respect to the NAICS codes. We have advocated for years for the disparity study that takes place every five years and of recent we have been advocating that all NAICS codes… to be honest with you truly need to be part of these programs because if you look at any one of NAICS codes you can see a disparity within them right based on a socio-economic class. Now we’re talking about women at this time and so I’m clearly going to bring that up in those particular fields that you talked about in this STEM or STEAM right? Science, technology, engineering, arts, and math. We continue to advocate on behalf of inclusion for all codes and certainly will hold everyone accountable with respect to reporting and providing disaggregate information. You can stay tapped into WIPP where we provide you monthly updates on where we are with these conversations. We are hoping that some of it does not have to have policy change with it, because we know how long that can take but that we are just talking about good practices and good business practices. I hope that answered the question.”
      • Answer from Pam Prince-Eason: “I wanted to share with you that the work of NWBC over the past six years and including now going forward we are always monitoring the NAICS codes and the underserved areas. Whether they be populations or whether they be areas of spend and we’re monitoring things like scorecards that exist for actual results of spending. Again we want to force more transparency but just want to let you know that’s a very key role of what gets delivered by the National Women’s Business Council, as well so on the policy front. Definitely do all the support through WIPP that you can do, but additionally recognize that there’s great research reporting and data collection being done by the National Women’s Business Council.”
    • Executive Director Dolphin continued with the next question, which read as follows: “Will the NWBC be engaging in research contracts with small businesses again to address topics of interest to the Council?”
      • Answer from Executive Director Dolphin, “Yes, we will, that’s a real simple yes. We are excited about conducting research. We are building, you know, our recommendations on data and research, whether it’s research that we you know connect to or research that we partner with ourselves and we’d like to do both and so that is a yes.”
    • Executive Director Dolphin then proceeded to mention the post-pandemic reality we are currently living in and if there is anything we might be shifting away from, emphasizing more of e-commerce and global markets.
      • Answer from Candace Waterman: “No, honestly. I think we have our fingers on the pulse of it. To your point Tené, in some ways, you know, this may be a heavy lift, but we cannot, as we say at home, ‘stop the good fight’ right?[…] I think Pam put it so beautifully, that we have access to broadband to every woman, no matter what corner of the U.S. that she is in. So again, we know that access to broadband is not just information, but we’re talking about e-commerce, right? We’re talking about a game-changing, sustainable economy here. There’s something has to be done and we’re going to continue that fight, but from leaving something, I don’t think we’ve left a stone unturned to be quite honest.”
      • Answer from Karen Bennetts: “We’ve been paying quite a bit of attention to helping lawmakers to understand what we’re kind of half-jokingly referring to as a ‘new age woman worker’. This is about women business owners who could have multiple employees or could just be starting out. [Especially] how essential it is for them to note the need for the flexibility to be afforded to business owners and their employees. With the 1099 concept as opposed to W-2 status, where both laws and employers can impose restrictions that become barriers to a woman’s work-life balance needs. We are looking to help effect some change as far as regulations to allow both concepts to move forward, so that women business owners and honestly all small business owners can make the choice of what’s the best fit for them and what works best for them depending on the type of business that they run. The segment that they are in, the area of the country that they’re in, and a host of other factors and just you know what works for each one of us personally. So that’s something that we’ve spent quite a bit of time talking about lately even… on our national advocacy committee calls, [it’s] ‘interesting’ to hear people’s perspectives on that one especially.”
  • Executive Director/DFO Tené Dolphin thanked all Council Members, presenters, and the public for joining and adjourned the meeting at 2:30 p.m. ET.

This meeting allowed the Council to provide an update on its initiatives and policy development. Each of the Council’s subcommittees (Rural Women’s Entrepreneurship, Women in S.T.E.M., and Access to Capital & Opportunity) presented their priorities and projects before the full body and the public.