FOR IMMEDIATE RELEASE

Contact: Rhylee Jones, Public Affairs Specialist

National Women’s Business Council (NWBC)

Phone: 202-735-4342             Email: rhylee.jones@sba.gov

NWBC’s 2024 Annual Report Charts Bold Vision for Women Entrepreneurs

Washington, D.C., [December 23, 2024] — The National Women’s Business Council (NWBC) proudly announces the release of its 2024 Annual Report. This year’s comprehensive report explores women entrepreneurs’ unique challenges while highlighting transformative pathways for growth in today’s dynamic economy. Focused on turning barriers into bridges, the report provides actionable insights and policy recommendations designed to drive the next wave of women-led business innovation and success.

“This year marks a milestone in our journey,” said Sima Ladjevardian, NWBC Chair. “From celebrating historic achievements to forging strategic partnerships, the Council’s work exemplifies our unwavering commitment to empowering women entrepreneurs and advancing equitable opportunities for all.”

The report is the culmination of a year of extensive research and collaboration focusing on three pillars: Access to Opportunity, Access to Capital, and Inclusive Entrepreneurial Ecosystems.

Access to Opportunity

NWBC calls for innovative outreach strategies and process improvements to expand women entrepreneurs’ participation in federal programs. Recommendations include:

• Employ microtargeted outreach strategies to connect underserved women entrepreneurs with federal resources.
• Simplify federal contracting processes to reduce barriers for women-owned businesses.
• Establish secure data-sharing protocols to maximize certification benefits and ensure inclusivity.

Access to Capital

Addressing long-standing financial inequities, the report advocates for:

• Expanding forgiveness for SBA-backed loans and implementing equitable decision-making tools.
• Leveraging public-private partnerships to reduce lending risk and amplify financial inclusion.

Inclusive Entrepreneurial Ecosystems

Recognizing the importance of holistic support systems, NWBC emphasizes:

• Support for affordable childcare solutions for working parents, particularly women entrepreneurs.
• Integrating entrepreneurial curricula into all levels of education and workforce training programs.
• Improving data collection to measure the economic and social impacts of women-led businesses.

“The 2024 recommendations provide a blueprint for fostering opportunity, unlocking capital, and building inclusive systems that empower women entrepreneurs to reach their fullest potential,” added Ladjevardian. “These actions are critical investments in equity and the future prosperity of our nation.”

Data and research remain at the heart of NWBC’s mission to advocate for women entrepreneurs. Accordingly, data and original research are important sources of intelligence that inform NWBC’s policy recommendations. Over the past year, the Council has:

• Analyzed Trends: Commissioned a study by the U.S. Census Bureau on the evolution of women-owned businesses by owners’ ages.
• Explored STEM and Rural Gaps: Conducted econometric analyses, interviews, and surveys to examine challenges for women in STEM and rural/Tribal communities.
• Prepared for Future Insights: Launched research into expanding women’s participation in federal contracting and sustaining the post-pandemic surge of Black and Latina business startups.

“Empowering women entrepreneurs unlocks economic potential and drives innovation,” said Tené Dolphin, NWBC Executive Director. “This report reflects our commitment to creating a more inclusive entrepreneurial landscape through collective action and bold policy recommendations.”

The full 2024 Annual Report is available for download at www.nwbc.gov/report/2024-annual-report/.

In addition to releasing the 2024 Annual Report, NWBC will also hold a public meeting on January 7^th to dig deep into elements within the report. Bringing together leading voices in women’s business ownership, policymakers, and other stakeholders, this gathering will be a daylong event filled with dynamic speakers and powerful discussions on issues impacting women in business. To register for this event, please click here.

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About the National Women’s Business Council

The National Women’s Business Council (NWBC) is a non-partisan federal advisory committee created to serve as an independent source of advice and counsel to the President, Congress, and the U.S. Small Business Administration on economic issues of importance to women business owners. To learn more, please visit: www.nwbc.gov.