SBA Builds New Focus on Women Entrepreneurs

Exciting Opportunities for Women in Business

“If [women] are choosing to walk out of the labor force or if they are forced out of the labor force or downsizing, [we at SBA want them] to be able to walk into the doors of entrepreneurship by making entrepreneurship centers and resources and and capital more accessible and available to them, whether that be at their kitchen table in their homes, or whether that be in their own office space,” she said.”

The SBA’s Office of Women’s Business Ownership elevated to new role

“Improving access to capital, counseling, training and federal contracts are priorities for Guzman, and the office’s new role will also come with additional flexibility to try to find creative ways to support business owners”

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“Among the 12 million women-owned businesses in the United States, nearly all of them are very small — 90 percent have no employees, according to data from the SBA. Accessing bank loans and capital remains the top concern for women-owned start-ups, which get between just 2 and 3 percent of all venture capital funds. Even new programs like the Paycheck Protection Program, established during the pandemic to reach smaller businesses, have failed to reach women business as a result of long-standing challenges such as having established banking relationships. “

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