I rise in support of the remarks of the gentleman from Massachusetts regarding the invaluable service of Women's Business Centers and the need to fund the program at the authorized levels of $13.7 million. As of 1999, there were 9.1 million women-owned businesses in the United States, generating sales in excess of $3.6 trillion and employing 27.5 million workers. Furthermore, one in eight of these businesses is owned by a woman of color, making women of color the fastest-growing segment of women-owned businesses. In Maryland alone, there are now over 193,000 women-owned businesses, accounting for 40 percent of all the firms in the State of Maryland. In fact, my district, Montgomery County, Maryland, is actually ranked the top county for women business ownership in Maryland. Unfortunately, even with this tremendous growth, women entrepreneurs still face barriers in the marketplace. With the current rate of government contract procurement for women-owned businesses at a mere 2.4 percent, there is an ever-growing need for women-owned business assistance in every congressional district.
Editor's note · Context
Discussing the importance of funding for Women's Business Centers and the growth of women-owned businesses.
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