It is both an honor and a privilege to serve as the chair of the National Women’s Business Council (NWBC or “the Council”) during this pivotal time. Reflecting on 2024, I am deeply inspired by the collective achievements and the powerful impact we’ve made together in advancing opportunities for current and aspiring women business leaders and entrepreneurs.

It is no secret that empowered women-owned businesses are economic powerhouses that boost our shared prosperity. According to estimates in the 2025 Impact of Women-Owned Businesses report, businesses owned by women represent 39.2 percent of all companies, employ over 12 million people, and generate $3.3 trillion in revenue. If these businesses were to achieve the same average revenue as firms owned by men, they would add $10.2 trillion to the economy. NWBC’s work to advance toward this state of equity encourages innovation and builds resilience for an economy where everyone can reap the benefits.

This year has been a milestone in our journey, marked by events and initiatives that underscore our unwavering commitment to fostering growth, advocacy, and engagement within our dynamic community. We have celebrated the Council’s 35th anniversary, recognized noteworthy achievements, and expanded our influence through strategic partnerships and impactful events. These events include:

year with our three subcommittees—Access to Capital, Access to Opportunity, and Inclusive Entrepreneurial Ecosystems—to further delve into all the policies and issues we are encountering.

Our Council members bring their wealth of knowledge and input based on the many conversations and meetings they attend individually throughout the year.

We have also completed some of our previous research and are planning several more, as you’ll see further in this annual report.

Year after year, NWBC has built a body of knowledge and a network of collaborators that have informed our policy recommendations. From our place within a learning community, we can see the impact of our efforts. In 2021, for example, NWBC urged SBA to narrow the gender wealth gap through parity for the women-owned small business (WOSB) and economically disadvantaged women-owned small business (EDWOSB) contracting programs. The agency brought this vision to reality this year by surging resources to clear pending applications for WOSB certification and by creating a single certification application process through which businesses can participate in any and all of SBA’s programs. This kind of responsive action demonstrates the importance of NWBC’s voice as a representative for millions of women-owned businesses.

I would also like to thank the Biden-Harris Administration for its commitment to equity and its support of the innovation and success of women-owned small businesses. The dream of entrepreneurship is alive and greater than ever and through the White House’s leadership and federal agencies’ efforts, women’s business enterprises are leading the way. More than 19 million new business applications have been submitted since President Biden’s election, and women’s business ownership has increased twice as fast as men’s ownership in that time. About twice as many women-owned businesses are securing an SBA-backed loan each month in FY24 as they were able to do so in FY20.

The Biden-Harris Administration has prioritized women’s participation under its Investing in America Agenda.

Also, consistent with NWBC’s constant policy recommendations calling for increased public support for childcare businesses and affordable access to family care services, SBA and the Biden-Harris Administration have announced vital programs such as Women’s Business Center grants for coaching childcare providers and a task force is securing commitments to support childcare expansion from businesses receiving grants under the CHIPS (Creating Helpful Incentives to Produce Semiconductors) and Science Act.

align resources across sectors, and the universal embrace of infrastructures that presume gender equity. We are committed to learning from diverse communities, leveraging our collective expertise, and advancing initiatives that drive sustainable and inclusive growth.

Ensuring equal access to opportunity for all women entrepreneurs, now and in the future, is at the core of our mission, which also will fuel economic growth for all. The power of this inspiration will ensure our progress forward.

We are not alone in our work, and I want to thank all of our partners, such as NAWBO, WBENC, AWBC, Women Impacting Public Policy (WIPP), Native Women Lead, the Center for Women’s Entrepreneurial Leadership (CWEL), and the Nasdaq Entrepreneurial Center, who are in this with all of us.

Thank you for your ongoing support and dedication to our shared mission. Let us continue to forge a path toward a brighter future for women, driven by our collective strength and vision.