In tough times, women open businesses more than ever

Historically, small business creation runs in a counter-cyclical fashion to overall national economic health: when the economy is running well at “full employment” fewer people are thinking of starting their own business, but when economic conditions deteriorate and layoffs increase, people start their own businesses in increasing numbers.

Women’s Business Centers are in the front lines of this situation; our members are seeing more and more women and men coming through our doors who have been “downsized”, “pink-slipped” or who are under-employed and looking for a way to put their economic futures in their own hands. We are ready, willing, able and are already serving as a source of information, inspiration and comfort to these clients.

Where we see the key challenge at the present time is increasing the flow of capital to our clients – not just those seeking to start a business but especially to our existing clients who are already in business. Areas of particular need are in the small office/home office (SOHO) market, in micro lending, and in the angel capital markets.

Entrepreneurism among women is a way to achieve self-sufficiency, to create wealth and to expand participation in community economic development.  Economic justice, wealth and well-being are realized through the collective leadership and power of successful entrepreneurial women.  It can even start during a recession.

Learn more at http://www.awbc.biz.

Barbara Wrigley

VP Public Relations, CBP
Executive Director, Women's Business Center of Northern VA

Above are portions of testimony presented by The Association of Women’s Business Centers (AWBC), which was invited to testify before the U.S. House of Representatives Small Business Committee by Chairwoman Nadia Velasquez (D-NY) earlier in February.  AWBC is a national not-for-profit organization representing women’s businesscenters and the women and men they serve. 

The AWBC was founded in 1998.  Their mission is to develop and strengthen the network of women’s business centers (WBCs) to advance the growth and success of women business owners. It does so by building the capacity of women’s business centers, developing public and private resources to support member centers, and by advocating and promoting women’s business development nationally and internationally.