Washington, D.C.—In recognition of Women’s History Month, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) released the following statement today:
“Throughout America’s history, the entrepreneurial spirit and drive of women has propelled our innovation, enriched our communities and strengthened our economy. Each year, Women’s History Month is a chance to honor the contributions and sacrifices of extraordinary women, including entrepreneurs and small business owners.
“Today, our country is home to 12.3 million women-owned businesses with women owning 4 out of every 10 businesses. In just the last decade, women have made remarkable gains, with women-owned businesses having increased by 58 percent since 2007. A large part of this success has been driven by women of color who were responsible for founding 64 percent of women-owned new businesses in 2017. These numbers remind us of the sheer economic power that women bring to the table as entrepreneurs.
“At the same time, however, women continue to face unique challenges whether in securing affordable capital, entering the federal procurement marketplace, or receiving technical assistance. With many traditional models of financing such as venture capital overwhelmingly awarded to men, Congress must be active in ensuring women entrepreneurs can access the capital they need to succeed.
“In the 116th Congress, our Committee will continue to push for solutions that enhance opportunities for women-owned small businesses.”
