Women's Entrepreneurship: A Catalyst for Economic Growth

Women’s History Month is a time to celebrate the remarkable women who are powering our
nation and our economy forward by starting innovative businesses, creating jobs, offering the
products and services that define our local neighborhoods, and solving global problems.
From small boutiques to tech startups, women continue making an impact in the business
world. In 2023, women opened more than 1,200 new businesses each day. In the South
Central region, which includes the states of Texas, Louisiana, New Mexico, Oklahoma, and
Arkansas, women own over 1.6 million businesses.
Investing in women entrepreneurs is a key part of the Biden-Harris Administration’s Investing
in America agenda. To that effect, SBA Administrator Isabella Casillas Guzman has made it
one of her top priorities to address gaps in access to capital for the smallest, underserved
businesses, including businesses owned by women. In fiscal year 2023, SBA-backed loans to
women-owned small businesses were up nearly 70 percent under the Biden-Harris
Administration, totaling $5.1 billion in lending to women-owned businesses.
In addition to connecting women entrepreneurs with critical funding to start or grow their
business, SBA offers a range of tools for business success including the resources below.
• Resource Partners: SBA has built an extensive support network of resource partners
that provide a wide range of services for women entrepreneurs. SBA’s network of
Women’s Business Centers (WBC) provides training, coaching, and mentoring to
entrepreneurs in local communities across the country. Other resource partners, such
as SCORE, Small Business Development Centers (SBDC), and Veterans Business

Outreach Centers (VBOC) offer mentorship and no- or low-cost counseling and
training.
• Federal Contracting: The SBA’s Office of Government Contracting and Business
Development tracks the government’s goal of assuring that five percent of all federal

contracting dollars are awarded to women-owned small businesses. The Women-
Owned Small Business Federal Contract Program (WOSB Program) is fully operational

and helps provide a level playing field for women business owners. The federal
government limits competition for certain contracts to businesses that participate in
the WOSB Program.
• Ascent: Launched in 2021, Ascent is a free online learning platform to help women
entrepreneurs grow their businesses. The platform includes informational videos,
discussion guides, and self-assessments to support women through their business
journeys.
Being a small business owner, I empathize with the obstacles and potential for growth that
women entrepreneurs encounter. I recognize that owning a business not only brings success
to women but also benefits their families and communities. SBA is committed to empowering
and uplifting women-owned businesses as they continue to break down barriers and achieve
success in business. During Women’s History Month, celebrate women entrepreneurs and
learn more about SBA’s programs and services that support women in business by visiting
www.sba.gov/women. To stay up to date on SBA news and upcoming events, follow us on
social media.

SBA South Central
X/Twitter: @SBASouthCentral
LinkedIn: @SBA-South-Central

Mindy Brissey is the SBA’s Acting Regional Administrator overseeing the agency’s programs,
offices, and operations in serving Arkansas, Louisiana, New Mexico, Oklahoma, and Texas.