NWBC COMMEMORATES 35TH ANNIVERSARY OF H.R. 5050, A HISTORIC MILESTONE THAT REVOLUTIONIZED WOMEN’S BUSINESS OWNERSHIP
FOR IMMEDIATE RELEASE
WASHINGTON, D.C. – (October 11, 2023) – The National Women’s Business Council (NWBC) is honored to recognize the 35th Anniversary of the passage of H.R. 5050, the Women’s Business Ownership Act. This landmark piece of legislation eliminated the requirement for women to have a male cosigner when applying for business loans, established the Women’s Business Center program, and created NWBC. Because of these game-changing measures, women business owners have been more strongly connected with lenders, resource partners, and policymakers.
“Our core mission here at NWBC is to amplify the voices America’s over 12 million women in business so that they can be heard by the President, Congress, and the Administrator of the U.S. Small Business Administration (SBA),” shared Tené Dolphin, NWBC’s Executive Director. “The passage of H.R. 5050 paved the way for this impactful work, and we are proud to celebrate the 35th Anniversary of this historic milestone, especially during National Women’s Small Business Month.”
NWBC will be celebrating its 35th Anniversary by convening Council Members past and present to discuss why NWBC’s mission of advancing women’s business enterprise remains as vital today as it was when it was created in 1988 through H.R. 5050. This virtual event will be open to the public and be held on October 25, 2023, at 2:00 PM EST.
“H.R. 5050 changed the game, but now it’s time to level the playing field for women entrepreneurs once and for all,” commented Sima Ladjevardian, Chair of NWBC. “To make change in the present and shape a brighter future for women in business, we must learn from lessons of the past by connecting with our visionary former Council Members.”
About the National Women’s Business Council
The National Women’s Business Council (NWBC) is a non-partisan federal advisory committee created to serve as an independent source of advice and policy recommendations to the President, Congress, and the U.S. Small Business Administration on economic issues of importance to women business owners. To learn more, please visit: www.NWBC.gov.