September 15, 2022
(Washington DC) – US Senator Jean Shaheen (D-NH), Senior Member of the Senate Committee on Small Business and Entrepreneurshiptoday with Senators Ben Cardin (D-Maryland), Mazzy Hirono (D-Hawaii), Tammy Duckworth (D-Illinois) and Jackie Rosen (D-Nevada), 2022 Women’s Business Center Improvement Act — Legislation to reauthorize and improve the Women’s Business Center (WBC) program of the Small Business Administration (SBA).
“Women business owners and entrepreneurs are at the heart of ingenuity and economic development across Granite State. Ensuring that women have access to resources, support and mentorship levels the playing field. , is the key to empowering women in leadership.” Senator Shaheen said“I am proud to help implement this bill to support Women’s Business Centers that help put women at the helm of the small business community.”
The Women’s Business Center program is a national network of over 140 centers that provide counseling, training, networking, workshops, technical assistance, and mentorship to entrepreneurs. WBC supports entrepreneurs in all stages of the business development process, including creating business her plans, conducting market research, navigating federal procurement processes, and other business management and operational skills. The program has played a key role in SBA’s support of small businesses during the pandemic. WBC said she will serve her over 88,000 clients in 2021. That’s a 36% increase from her 64,000 clients in 2019.
of 2022 Women’s Business Center Improvement Act provides SBA and WBC with the tools they need to meet the demands of a historic boom in new business formation. According to the U.S. Census Bureau, the American will register 5.4 million new businesses in 2021. That’s an all-time high, and he’s up nearly 2 million since 2019, when he had 3.5 million new business applications.
of 2022 Women’s Business Center Improvement Act Increase federal support for the WBC by doubling the maximum annual grant to $300,000. The bill would also allow SBA administrators to offer greater flexibility to smaller, underresourced WBCs. Under the bill, SBA administrators would require grant recipients’ economic circumstances, that the recipients have demonstrated their ability to raise non-federal funding, and the past recipient’s performance. The bill also sets out WBC responsibilities and requires the SBA to establish a certification program for her WBC. In addition, the bill clarifies the duties of the SBA’s Office of Women’s Business Ownership and codifies the office’s mission in law, among other provisions.
As a senior member of the Senate Committee on Small Business and Entrepreneurship and a former small business owner, Senator Shaheen is an avid supporter of New Hampshire’s small business community. During the COVID-19 pandemic, Shaheen went to war for small business owners most severely affected by the public health crisis. She has worked to provide small businesses with the resources they need to weather and recover from the economic impact of COVID-19, leading negotiations on provisions of the Coronavirus Aid, Relief and Economic Security (CARES) Act. did. Established Paycheck Protection Program (PPP) Expanded the Economic Loss Disaster Loan Program. Both have been lifebloods for businesses in New Hampshire and across the country.