5 Facts about Women-Owned Businesses

In this newsletter, you can learn more about:

Illustration of three people and buildings with the following text, Women’s History Month. The SBA logo is at the bottom.

Since 1987, we have honored Women during the month of March for the contributions they have made toward history, culture, and society. The SBA’s Office of Women’s Business Ownership funds over 140 Women’s Business Centers who help women entrepreneurs start, grow, and expand their businesses by providing business training, counseling, federal contracting certifications, and access to credit and capital. 

Register Now to Attend the 2022 Virtual Women’s Business Summit Mar. 29 – 30 

Please join us for power-packed panels, inspirational fireside chats, and ‘Ask an Expert’ workshops to help you build, scale, and grow your business.

Register Now

Women are celebrated and honored every single day by SBA. We recognize the value that women entrepreneurs present to our great, growing economy. Despite the unique challenges women entrepreneurs face women business owners are still a powerful force in our economy: 

  1. 37% of all businesses in the U.S. were owned by women in 2017
  2. 12 million women-owned businesses generated over $2.7T in revenues in 2017
  3. 1.1 million women-owned businesses employed 10.1 million workers in 2017
  4. Women-owned small businesses were awarded 5.62% of federal subcontracts in fiscal year 2020 totaling $14.3B 
  5. SBA’s network of over 140 Women’s Business Centers helped over 88,000 businesses in fiscal year 2021
  • Women-Owned Small Business (WOSB) Federal Contracting Program helps provide a level playing field for women business owners by limiting competition for certain contracts to businesses that participate in the Women-Owned Small Business (WOSB) Federal Contracting program
  • Ascent Learning is a free platform for women entrepreneurs looking to grow or improve their business
  • SBA’s Network of Women’s Business Centers meet women business owners where they are and provide them with extensive on-the-ground resources that include free to low-cost counseling, training, business development technical assistance, and are dedicated to assisting women entrepreneurs to start, grow, and expand their enterprises. The Seattle district has three WBC’s: 
Headshot of Jessica Conaway

Washington Women’s Business Center

The WWBC provides free to low-cost classes and free one-on-one business coaching to develop your business, strengthen your systems, work smarter with your team, and increase profit margins.

Jessica Conaway, Senior Business Consultant 

Jessica is a Senior Business Consultant at Business Impact NW. She also has a leadership and executive development practice outside of the work that she does with BIN. Jessica began her professional career as a commercial litigator in Phoenix but after nearly 10 years practicing law, Jessica and her life partner relocated to Washington for a career change and to start a family. When not working with clients, Jessica can be found caring for her son, playing with her four standard poodles, or oil painting. Read more about Jessica.

How long have you been a business mentor? 7 years

Why do you do what you do? I find a great amount of personal satisfaction in helping my client’s pursue their passion and realize their entrepreneurial dream.

What are the top 3 tips you have for someone starting a business? 1. Plan for your business, but don’t get stuck there. Wrap up the plan and get to the business of doing – sooner rather than later. 2. Passion can drive many of the necessary entrepreneurial actions, but be prepared to tap into your personal stores of grit and resiliency. You will not always love doing the business of your business and that’s ok. 3. Find a mentor. Business ownership can be lonely – friends and family often tire of hearing the daily wins and struggles of business ownership or cannot relate to them in a meaningful way – a mentor can help. 

What are the biggest turnarounds you have seen your clients make on their road to success? A recurring and dramatic shift for clients is the realization that a narrow, targeted market (rather than a broad and general one) will yield better sales even when their product or service would be beneficial to the world at large. 

What is the most helpful piece of advice you have ever received? Just because you can connect the dots and craft a path through the woods does not mean anyone will follow you down it. 

WWBC Success Story 

Woman-Owned Kitchen & Market Brings Fresh Ideas to the Table Situated down the alley at Pike Place Market, past the first Starbucks, and right before the ‘Taxi Dogs’ sign, is the brand new Kitchen & Market. A longtime dream for founder and owner, Stephanie King. This market offers restaurant-quality meal kits alongside everyday groceries. Read More.

Friday, Mar. 11

8:30 a.m. | Coeur d’Alene, ID – Managing Your Business Financials for Profit

9 a.m. | Legal Basics that Small Business Owners Need to Know

10 a.m. | SBA Loans 101: What Borrowers Should Know

Monday, Mar. 14

12 p.m. | Government Contracting 101

Tuesday, Mar. 15

8 a.m. | Boots to Business Reboot

8 a.m. | Tax and Business Basics for Small Businesses in Idaho

9 a.m. | Grow with a Pro (Insurance Professional) * 

1 p.m. | Simplifying the Complexities of Component Business Financing

Wednesday, Mar. 16

8 a.m. | Starting a Business in Idaho

10 a.m. | Marketing 1: Developing and Promoting Your Product or Service to Sell More

10 a.m. | White Collar Overtime Exemptions

2 p.m. | Your Business Journey: Get Started

Thursday, Mar. 17

9 a.m. | Virtual Square One Work For Yourself: Lynwood

9 a.m. | Equal Pay and Opportunities Act

12 p.m. | Let’s Talk Business: Online Business Growth Strategies – Google Search Engine Optimization (SEO) * 

12 p.m. | Virtual Square One Work For Yourself: Everett

12 p.m. | Tax Readiness Workshop

1 p.m. | How to Get More Leads and Increase Your Sales

Friday, Mar. 18

8:30 a.m. | Coeur d’Alene, ID – Hiring Winners, Operational Strategy for Profit

9:30 a.m. | Virtual Square One Work For Yourself: Redmond

Saturday, Mar. 19

9 a.m. | Successfully Starting a New Business

Tuesday, Mar. 22 

9 a.m. | Virtual Square One Work For Yourself: Auburn

9 a.m. | Grow With a Pro (Legal Professional) * 

10 a.m. | Everything You Want to Know About Your L&I Account

1 p.m. | Small Business Flex Fund Webinar * 

Thursday, Mar. 24

9:30 a.m. | Tax Essential for New and Existing Business Owners

11:30 a.m. | Business Expert Session: Website Building Part 2: What’s Important & Best Practices

* SBA’s participation or support is not an endorsement of any product, service, or entity.

Article Source: https://content.govdelivery.com/accounts/USSBA/bulletins/30ce17c