A 25-year anniversary is something to celebrate—especially when it’s the anniversary of a landmark piece of legislation that ushered in a transformation in women’s enterprise development.
Today, NAWBO celebrates HR 5050, also known as the Women’s Business Ownership Act of 1988. This legislation led to an explosion in women’s entrepreneurship as women could finally take out their own busines loans. Before that, their hubands, fathers, sons—or any male relative for that matter—had to co-sign. HR 5050 was also the beginning of the Women’s Business Center program and National Women’s Business Council as well as the start of the U.S. Census Bureau finally including C Corporations when collecting and counting data on women-owned firms. It was truly transformational for women business owners then and now. In fact, for the past two-and-a-half decades since then, women-owned businesses have continued to grow at nearly twice the rate of all businesses.
Read The Full Statement From Billie Dragoo, NAWBO National Chair and Interim CEO...