There’s no denying the numbers: Women entrepreneurs are major contributors to America’s small business boom. In fact, from 2019 to 2023, the growth rate of women-owned businesses outpaced the growth rate of men-owned businesses by 94%. However, women-owned firms still only account for roughly 38% of all businesses.
This Women’s Equality Day, August 26, the pursuit of a better marketplace for all continues. The SBA supports budding and seasoned women entrepreneurs alike with the below resources and programs.
- Low- or no-cost training, counseling, and continuous learning. America’s women entrepreneurs are represented among all 50 states and territories. Accordingly, there are 152 in-person Women’s Business Centers (WBCs) stationed throughout the U.S. WBCs level the playing field by assisting women entrepreneurs in starting and growing small businesses-as do other SBA resource partners, including Small Business Development Centers, SCORE mentors and Veterans Business Outreach Centers. The SBA’s online Learning Platform is another asset for women entrepreneurs, featuring flexible coaching and training programs designed to help at any stage of the business journey.
- Funding opportunities. The SBA removes barriers, enabling traditionally underfunded communities to gain access to credit, capital, and other financial resources. SBA-backed loans help small businesses, including those owned by women entrepreneurs, obtain funding by reducing lender risk. The SBA also makes it easier to find investors and protect work with a surety bond.
- Doing business with the government. There has never been a better time for women entrepreneurs to explore the federal marketplace. The U.S. government is the largest single purchaser of goods and services in the world, and in the last fiscal year alone, women-owned small businesses received a historic $30.9 billion in federal contracting dollars. The Women-Owned Small Business Federal Contracting Program (WOSB) helps the government reach its contract spend goal by setting aside certain federal opportunities for specific industries where women-owned small businesses are underrepresented.
The SBA is here for women entrepreneurs as they help drive the American economy forward. Visit sba.gov/women to learn more.