QED National Celebrates National Women’s Small Business Month
As a certified Women-owned Business Enterprise, QED National celebrates National Women’s Small Business Month with a deep appreciation. The month of October was chosen to acknowledge the achievements of women-owned small businesses as it’s the same month that the Women’s Business Ownership Act was passed by Congress over 30 years ago.
This legislation established a newfound line of support and resources by the Small Business Administration (“SBA”) specifically for women-owned businesses. Over the years due to national and local support, women-owned businesses have grown from about 4% of all small businesses in 1988, a time when men were still required to cosign business loans for women, to over 40% currently. This created significant opportunities for women of all backgrounds.
Notable SBA Women-Owned Business Statistics
- In the United States, over 10 million small businesses are owned by women
- Women employ over 9 million workers in the United States
- Women-owned businesses generate about $1.9 trillion in revenue per year
- WBEs provide $264 billion in wages to employees per year
QED National understands the importance Women-owned Business Enterprise (“WBE”) resources and support. President of QED National Colleen Molter has been an advocate of Minority and Women-owned Business Enterprise initiatives for many years, helping to push for higher discretionary spending and participation goals in New York City and State that benefits certified MWBE firms. Colleen has worked on the City of New York’s M/WBE Advisory Council under the Bloomberg and De Blasio administrations, acted as a mentor for new small businesses seeking M/WBE certification with the City of New York, and serves as a current member of the Women Presidents Educational Organization, which encourages women-owned businesses to become certified by Women’s Business Enterprise National Council (“WBENC”). Colleen’s dedication to this community has been an integral part of her career as a business owner.
“Support for women-owned businesses has come a long way and it’s important to celebrate these efforts and milestones,” Molter said, “but we still have barriers to overcome in order to level the playing field and further increase opportunity for WBEs across many industries.”
With the continued efforts of organizations such as the SBA, WBENC, NYC Small Business Services and NYC Mayor’s Office of M/WBEs to name a few, women-owned businesses have more support today than ever before, a strong foundation that is necessary to their longevity and growth.