“We thank the Administration for its continued support of the Small Business Administration—which plays a crucial role in helping women entrepreneurs succeed—in the budget it proposed to Congress today. We are encouraged to see that the president’s budget recognizes the importance of SBA lending programs and federal contracting support for business owners.
While we understand and support the desire to eliminate duplicative government programs, we have concerns about budget proposals to eliminate SBA PRIME, the Treasury’s CDFI Fund and entrepreneurial development programs—which provide significant support to women business owners. We also encourage Congress to maintain its commitment to Women’s Business Centers, which are vital training and counseling programs.
Small businesses create half the country’s jobs, and entrepreneurship is a key pathway to financial security and independence for women and other business owners. Indeed, small business ownership is the second greatest source of household wealth behind home equity, according to a study by CFED.
Women-owned firms are growing at nearly four times the rate of men-owned businesses, according to the National Women’s Business Council. We believe robust support for programs that help women business owners get the capital, training and counseling they need to thrive will pay huge dividends for our economy.
We encourage Congress to carefully consider decisions on whether to cut funding from programs that help women entrepreneurs.”
WIPP is a national nonpartisan organization advocating on behalf of women entrepreneurs—strengthening their impact on our nation’s public policy, creating economic opportunities, and forging alliances with other business organizations. In 2016, WIPP partnered with the National Development Council (NDC) to provide support for WIPP’s coalition activities. In her role as Director of the NDC Washington office, Jane Campbell also serves as President of WIPP. www.WIPP.org
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