Why Women’s Business Centers are so important
BY LIFT IOWA STAFF | @LiftIOWA
The large-scale entry of women into the workforce during the 20th century was a huge driver of economic growth, reports BizWomen.com, and today, research points to female entrepreneurs as a beacon of hope in an otherwise gloomy economic forecast.
But the considerable lip service being paid to the enormous potential of women-owned businesses is not being matched by the kinds of policies and investment that would facilitate their growth.
The Business Journals took a look at the numbers: Women own 30 percent of small businesses nationally and are starting new ventures at 1.5 times the rate of the general population.
But women receive only 4 percent of conventional small-business loan dollars, the article reports, and research conducted on behalf of the National Women’s Business Council indicates that women start businesses with roughly half as much capital as their male counterparts.
If women started businesses with the same amount of capital as men, 6 million jobs would be created over five years, according to Babson College.
But resources do exist to help combat that inequity. The Women’s Business Center program was launched by the U.S. Small Business Administration after the passage of the Women’s Business Ownership Act in 1989 to help women start and expand small businesses.
Read the full article at BizWomen.com.
To read Lift IOWA staff writer Megan VerHelst’s in-depth Insider piece on similar resources available to female entrepreneurs in Iowa, click here.