The Small Business Association is continuously coming up with new programs and reliefs to aid small businesses in their journey. Recently, the SBA announcement of 5 New Women’s Business Centers Across America overwhelmed the nation. These centers aim to educate and boost women entrepreneurs. This is good news for America as it has 32.5 million small businesses.
So, let’s have a look at the latest news!
SBA Opens 5 New Women’s Business Centers Across America
On May 23, 2022, the head of the SBA, Isabella Casillas Guzman, declares the plan for new women’s business centers. In addition, the declaration states that selection of five new Women’s Business Centers (WBC) established by Minority Serving Institutions (MSI). Also, the week is celebrated as National Small Business Week, and the initiative is great news for women entrepreneurs.
Aim of Women Business Centers
There are many existing Small Business grants for women, and these Women’s Business centers will provide great help to overcome hurdles. The goal of these five Women Business Centers will be:
- Access to the right resources because women entrepreneurs still face hurdles to running a successful small business. For example, information about women-owned Small Business registration.
- The WBCs will provide affordable counseling and training for women aspiring to become entrepreneurs. Also, it will counsel the existing entrepreneurs to improve their strategies.
- WBCs deliver federal contracts and entry to credit and capital.
- Creating funding possibilities that grow equity for small business owners
In addition, via SBA’s Office of Women’s Business Ownership (OWBO), the WBCs will help entrepreneurs take favorable risks and grow and navigate new opportunities. President Biden’s Bipartisan Infrastructure Law creates it by entering competitive industries, solving climate change, and producing clean-energy supply chains that will support expanding international exporting.
MSIs Operated WBCs
The all-new five women business centers across the country will be hosted and operated by Minority Serving Institutions (MSI) that serve minority populations.
The new centers operated by MSI has California State University, Fresno Foundation, CSU Fullerton Auxiliary Services Corporation on behalf of California State University, Fullerton, Miles College Center for Economic and Social Justice, the National Institute of Minority Economic Development, Inc. on behalf of Bennett College, and the Rockville Economic Development on behalf of Bowie State University.
Another objective of the selected WBCs is to provide in-depth technical assistance to the women entrepreneurs. Tech useful is making businesses run smoothly or basic technical knowledge. It will be conducted through workshops, training, and lots of discussions. The programs will focus on all factors that will boost the business.
You will be surprised to know that since March 21, 2022, 25 new Women’s Business Centers have opened. In addition, the Office of Women’s Business Ownership (OWBO) announced the 141st WBC in Anchorage, Alaska, and now plans to cover all 50 states with Women Business Centers.
All the bodies thanked Biden’s administration for the program’s launch because his initiative has resulted in a huge growth of small businesses in the country.
