Women's Business Ownership Act

The Women's Business Ownership Act of 1988 was an act introduced by John LaFalce intended to "to amend the Small Business Act to establish programs and initiate efforts to assist the development of small business concerns owned and controlled by women, and for other purposes."[1] It provides a basis for policies, programs, and public/private sector initiatives supporting women's business endeavors.[2] The bill was signed into law on October 25, 1988.[3] For much of history, women were excluded from the business world, but now women are becoming entrepreneurs at a fast rate.[4] The market contains many inequities that influence the success women in business are able to achieve. Sexual stereotyping and past societal barriers result in women not having the same access to ownership or control.[5] The Women's Business Ownership Act was drafted in response to the Small Business Committee's series of six hearings on problems facing women entrepreneurs and follows the recommendations outlined in the Committee report "New Economic Realities: The Rise of Women Entrepreneurs."[6] It's intention is to promote equality within business opportunities for women.[7]

Congressional Findings

The Congressional Committee identified four barriers to women owned businesses that they wished to address.[8]

  1. "the need for technical training to maximize growth potential of women owned business"[9]
  2. "inequality of access to commercial credit"[10]
  3. "virtual exclusion of women owned business from government procurement activities"[11]
  4. "inadequacy of information and data relative to women owned business"[12]

These findings were included in the Committee Report 100-736, which was filed on June 28, 1988. Findings like this are critical in order to formulate the basis for public policies and programs in order to benefit women entrepreneurs.[13]

List of organizations that endorsed the legislation

References

  1. ↑ "Text of H.R. 5050 (100th): Women's Business Ownership Act of 1988 (Passed Congress/Enrolled Bill version) - GovTrack.us" (PDF). GovTrack.us. Retrieved 2016-12-03.
  2. ↑ Selected documents pertaining to the Women's Business Ownership Act of 1988 (Public Law 100-533) /. Washington :. 1988-01-01.
  3. ↑ "Text of H.R. 5050 (100th): Women's Business Ownership Act of 1988 (Passed Congress/Enrolled Bill version) - GovTrack.us". GovTrack.us. Retrieved 2016-12-03.
  4. ↑ Selected documents pertaining to the Women's Business Ownership Act of 1988 (Public Law 100-533) /. Washington :. 1988-01-01.
  5. ↑ Selected documents pertaining to the Women's Business Ownership Act of 1988 (Public Law 100-533) /. Washington :. 1988-01-01.
  6. ↑ Selected documents pertaining to the Women's Business Ownership Act of 1988 (Public Law 100-533) /. Washington :. 1988-01-01.
  7. ↑ Selected documents pertaining to the Women's Business Ownership Act of 1988 (Public Law 100-533) /. Washington :. 1988-01-01.
  8. ↑ Selected documents pertaining to the Women's Business Ownership Act of 1988 (Public Law 100-533) /. Washington :. 1988-01-01.
  9. ↑ Selected documents pertaining to the Women's Business Ownership Act of 1988 (Public Law 100-533) /. Washington :. 1988-01-01.
  10. ↑ Selected documents pertaining to the Women's Business Ownership Act of 1988 (Public Law 100-533) /. Washington :. 1988-01-01.
  11. ↑ Selected documents pertaining to the Women's Business Ownership Act of 1988 (Public Law 100-533) /. Washington :. 1988-01-01.
  12. ↑ Selected documents pertaining to the Women's Business Ownership Act of 1988 (Public Law 100-533) /. Washington :. 1988-01-01.
  13. ↑ Selected documents pertaining to the Women's Business Ownership Act of 1988 (Public Law 100-533) /. Washington :. 1988-01-01.
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