East Central Reporter

Unknown, the speaker of the Women’s Business Ownership Act, announced today that the number of women-owned businesses in the United States has surpassed 13 million, accounting for 42% of all businesses in the country. This significant growth is a testament to the impact of women entrepreneurs on the economy.

"In 1972, there were just over 400,000 women-owned businesses in the United States. In 1988, the Women’s Business Ownership Act increased Small Business Administration (SBA’s) access to capital to offer financial assistance to women-owned small businesses. By 2019, women-owned businesses accounted for 42% of all U.S. businesses," stated Unknown.

The Women’s Business Ownership Act, implemented in 1988, played a crucial role in empowering women entrepreneurs by providing them with increased access to capital. This financial assistance has enabled women-owned small businesses to thrive and contribute significantly to the economy.

With over 13 million women-owned businesses in the United States today, it is clear that women entrepreneurs are making their mark in various industries. Their presence and success in the business world are a testament to their resilience, innovation, and determination.

As the month of October begins, it is an opportunity to celebrate the achievements and contributions of women entrepreneurs. Women’s Small Business Month recognizes the lasting impact these businesses have on the economy and society as a whole.

Happy Women’s Small Business Month!