Blog Post

There are more than 11 million women-owned businesses in the U.S., making them the fastest growing segment of our economy. According to an American Express study, the number of women-owned businesses

Rhett Buttle • Sep 01, 2020

NAWBO

There are more than 11 million women-owned businesses in the U.S., making them the fastest growing segment of our economy. According to an American Express study, the number of women-owned businesses increased by 114% from 1997-2007, compared to 44% for all businesses. They also employ 9 million people and generate $1.7 trillion in sales.

Unfortunately, women-owned businesses have been severely impacted by the COVID-19 pandemic, especially the 5.4 million that are owned by women of color. A recent National Association of Women Business Owners (NAWBO) survey reported that 20% of its members who responded still need access to capital to survive the pandemic, another almost 20% said they need additional resources to expand online, and 25% said they simply needed time to spend on their business.

As National CEO of NAWBO, Jen Earle leads an organization that has advocated for female business owners for the past 45 years. Her efforts to give back to others started in college when she worked in a shelter for abused and runaway teenagers. Today, she focuses on supporting women business owners and furthering female entrepreneurship. 

I recently sat down with Jen to discuss the impact of COVID-19 on women-owned businesses, how lawmakers can support them, and the steps female business owners should be taking to remain open and viable. I’m grateful to Jen for taking the time to offer her insights and perspective; below is a summary of our conversation.

Rhett Buttle: How are working women, and especially women small business owners, being impacted by the COVID-19 pandemic? 

Jen Earle: Entrepreneurs are agile, lifetime learners, and this is one of their biggest lessons. According to our recent NAWBO survey, women business owners are maintaining a balance as the pandemic spreads into its six month. While 62% are not concerned about their business failing if states must shutter again, 38% are concerned with the vast majority of those believing they only have 3-9 months to stay afloat.  

Regardless of the circumstances, many of these women are struggling, but they continue to push forward, looking past these setbacks toward long-term goals. Our women business owners are innovative, changing their business plans and creating other revenue streams to remain open. Others are finding ways to keep their businesses viable by cutting their salaries in half. 

With our working moms, we hear their struggles now more than ever, and with the start of virtual schooling, it will only get worse. Many of our NAWBO moms describe themselves as a "Business owner, mom, and teacher with no break in sight." Despite the situation, these women keep going even when they feel they cannot or are too tired, beat up, and beat down. They are finding avenues to manage the stress and maintain mental wellbeing – having grace with themselves and their teams – to avoid burnout. 

Buttle: What effective support of women-owned businesses has there been from policymakers and other leaders (e.g., corporations, philanthropy)? What else should they be doing to help?   

Earle: The federal government relief programs, the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) Program, have supported numerous women business owners during the pandemic. About half of our members received a PPP loan, and about 40% applied for EIDL loans. However, business owners could use more support.   

We believe Congress should prioritize the inclusion of the Small Business Expense Protection Act of 2020 (S.3612). As our business owners climb the uphill battle to stay open, this proposal would allow businesses to deduct expenses paid with a forgiven PPP loan from their taxes. Also, Congress should recognize the importance of the Ensuring Increased Disaster Loans for Small Businesses of Act (S. 4227). By lifting the caps and infusing more money in the EIDL Program and the EIDL Advance Program, our business owners will remain open by using these long-term, low-interest loans that do not require a relationship with a financial institution.  

These common-sense, bipartisan solutions would significantly improve the economic landscape for women business owners as they continue to face these hardships. We also need to look at options where women can access capital without going into debt. Women are risk averse, and there needs to be more grant options to keep their doors open. 

Buttle: What are the top things female small business owners need to think about and do to keep their companies viable in these uncertain times?   

Earle: For women business owners to be resilient, it is going to take what I like to call the 4 C's: capital, community, confidence, and Capitols. 

Capital needs to reach our women's business owners. We must work to help them overcome barriers to access to capital, and hopefully, Congress will set-aside money specifically for these women-owned businesses.    

We need to continue our efforts to build a community. Business owners need an avenue that allows them to connect with other individuals who have been through similar challenges or are presently undertaking them as well. Our women business owners have been meeting virtually one to two times a week to discuss everything from how to handle employees that come down with COVID-19 to talking about the struggle to shift to a different virtual business model, and sometimes just to talk about the chaos at home. NAWBO provides this community, and there are so many communities out there for women and business. Go find your people! 

Women business owners need confidence and support to trod the sometimes lonely and challenging path of entrepreneurship. Women business owners often feel alone regardless of this pandemic, and we need to ensure that no one feels isolated. We must ensure women have the confidence to innovate and try new things to revitalize their businesses.  

Finally, Capitols. Lawmakers need to understand the contribution of women business owners. Before the pandemic, we would boast that women business owners represent the fastest growing economic sector in the country, employing 9.4 million and generating $1.6 trillion in revenue. As I said before, according to our recent survey, if states must shutter again, 38% of our respondents said they are concerned about the viability of their business. The vast majority of those business owners believe they will only have 3-9 months to stay afloat. Everyone needs to think and prepare for what may happen. We need to ensure that these women business owners vocalize what they need to lawmakers to remain open. 

Buttle: What resources can help business owners during this time?  

Earle: I would look at ways to expand your network virtually. Our annual Women's Business Conference is going all virtual this year. From September 22-23, we'll be doing breakout sessions and hearing from speakers and panelists. Some sessions include:
  • Shifting Your Marketing Strategy Post-COVID-19, 
  • Leveraging Technology to Ensure Business Agility and Digitally Transforming Your Business, and 
  • Assessing the Financial Impact of Strategic Decisions in Uncertain Times. 
By participating in virtual events, it builds your community but also diversifies your network to expand during tough times.   

Don’t miss my earlier conversations with Ron Busby, CEO of the U.S. Black Chambers, Inc., Ramiro Cavazos, President And CEO of the U.S. Hispanic Chamber Of Commerce, and Chiling Tong, President And CEO of the Asian/Pacific Islander American Chamber Of Commerce And Entrepreneurship.

Other Resources:

This piece originally appeared in Forbes on August 31, 2020. You can view it online here.

Rhett Buttle is the founder of Public Private Strategies, Executive Director of the Small Business Roundtable, Founder of the NextGen Chamber of Commerce, a Senior Fellow at The Aspen Institute, and a contributor for Forbes.

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29 Apr, 2024
WASHINGTON, D.C. – Today, the Bureau of Labor Statistics released its March jobs report, showing the US economy added 303,000 jobs in March while the unemployment rate fell to 3.8%. CNN characterized US job growth in March as “whopping,” with gains far outpacing economists' expectations. In response to the strong jobs report, Rhett Buttle, Founder of Public Private Strategies, released the following statement: “The labor market continues to exceed economists’ expectations, with over 300,000 jobs added in March – 50% more than economists anticipated. Bipartisan investments like the Bipartisan Infrastructure Law, CHIPS & Science Act, and Inflation Reduction Act are fueling broad-based economic growth that is strengthening the labor market, increasing consumer confidence , and leading to over 16 million new small business applications in the past three years – the most ever in that period and a reflection of deep optimism among American entrepreneurs about our economic future.” “Lawmakers must continue to double down on America’s economic momentum, and that starts with addressing the issues that business owners say are their top priorities, from lowering health care and prescription drug costs to strengthening and protecting American democracy .” ### About Rhett Buttle, Founder, Public Private Strategies and President, Public Private Strategies Institute Rhett Buttle is an entrepreneur, advocate, and one of the most trusted leaders at the intersection of business and policy in Washington, DC. Most recently, Rhett served as National Business Advisor to President Joe Biden’s 2020 campaign. He has worked for President Barack Obama, Secretary of State Hillary Clinton, and Governor Arnold Schwarzenegger. Rhett is the founder of Public Private Strategies (PPS) and President of the Public Private Strategies Institute (PPSI), which works to bring together the public and private sectors to build coalitions, activate campaigns, and create strategic partnerships to drive policy and market outcomes. In these roles, he advises leading policymakers, foundations, nonprofits, and corporations. About Public Private Strategies Public Private Strategies (PPS) creates opportunities where the public and private sectors meet. We bring together diverse allies including foundations, associations, corporations, small businesses, and entrepreneurs to solve pressing societal challenges. By harnessing the power of the private sector, we build coalitions, activate campaigns, and create strategic partnerships to drive desired policy and market outcomes. Learn more at www.publicprivatestrategies.com . As the United States marks the 14th anniversary of the AffordableCare Act (ACA), more Americans now have health care coverage than ever before. Since its enactment in 2010, the ACA has been a vital tool for Main Street, providing access to affordable healthcare options and fostering a healthier, more productive workforce.
05 Apr, 2024
WASHINGTON, D.C. – Today, the Bureau of Labor Statistics released its March jobs report, showing the US economy added 303,000 jobs in March while the unemployment rate fell to 3.8%. CNN characterized US job growth in March as “whopping,” with gains far outpacing economists' expectations. In response to the strong jobs report, Rhett Buttle, Founder of Public Private Strategies, released the following statement: “The labor market continues to exceed economists’ expectations, with over 300,000 jobs added in March – 50% more than economists anticipated. Bipartisan investments like the Bipartisan Infrastructure Law, CHIPS & Science Act, and Inflation Reduction Act are fueling broad-based economic growth that is strengthening the labor market, increasing consumer confidence , and leading to over 16 million new small business applications in the past three years – the most ever in that period and a reflection of deep optimism among American entrepreneurs about our economic future.” “Lawmakers must continue to double down on America’s economic momentum, and that starts with addressing the issues that business owners say are their top priorities, from lowering health care and prescription drug costs to strengthening and protecting American democracy .” ### About Rhett Buttle, Founder, Public Private Strategies and President, Public Private Strategies Institute Rhett Buttle is an entrepreneur, advocate, and one of the most trusted leaders at the intersection of business and policy in Washington, DC. Most recently, Rhett served as National Business Advisor to President Joe Biden’s 2020 campaign. He has worked for President Barack Obama, Secretary of State Hillary Clinton, and Governor Arnold Schwarzenegger. Rhett is the founder of Public Private Strategies (PPS) and President of the Public Private Strategies Institute (PPSI), which works to bring together the public and private sectors to build coalitions, activate campaigns, and create strategic partnerships to drive policy and market outcomes. In these roles, he advises leading policymakers, foundations, nonprofits, and corporations. About Public Private Strategies Public Private Strategies (PPS) creates opportunities where the public and private sectors meet. We bring together diverse allies including foundations, associations, corporations, small businesses, and entrepreneurs to solve pressing societal challenges. By harnessing the power of the private sector, we build coalitions, activate campaigns, and create strategic partnerships to drive desired policy and market outcomes. Learn more at www.publicprivatestrategies.com . As the United States marks the 14th anniversary of the AffordableCare Act (ACA), more Americans now have health care coverage than ever before. Since its enactment in 2010, the ACA has been a vital tool for Main Street, providing access to affordable healthcare options and fostering a healthier, more productive workforce.
22 Mar, 2024
WASHINGTON, D.C. – This week, the U.S. Small Business Administration (SBA) announced the agency's first-ever voter registration agreement with the Michigan Department of State (MDOS). This landmark memorandum of understanding (MOU), signed to bolster civic engagement and voter registration efforts in Michigan, marks a significant milestone in empowering small business owners. Under the MOU, MDOS will create a dedicated URL for the SBA, enabling online visitors to easily register to vote. Additionally, MDOS officials will have the opportunity to conduct in-person voter registration at SBA's small business outreach events, providing direct support to entrepreneurs. Michigan, with its thriving small business sector of over 900,000 enterprises employing 1.9 million individuals, stands to benefit significantly from this initiative. The SBA, in an effort to bolster its mission of ensuring small businesses thrive, will also promote voter registration nationwide by integrating information from Vote.gov into its marketing materials, website, and social media channels, and through signage at SBA offices and events throughout the country. Following the announcement, Rhett Buttle, Founder of Public Private Strategies & President of the Public Private Strategies Institute, released the following statement: "Small business owners have the power to drive positive change. This historic collaboration between the SBA and MDOS underscores the shared commitment to amplifying the voices of small business owners in Michigan and across the nation. By providing access to voter registration information, businesses are supported, and our democracy is strengthened, which is crucial for our economic prosperity. This agreement fosters a culture of civic engagement that benefits us all." Small business owners interested in registering to vote in Michigan can visit the Michigan Department of State's Voter Information Center at mvic.sos.state.mi.us . For more information about the SBA's programs, financial assistance, and services supporting small businesses, visit www.sba.gov . ### About Rhett Buttle, Founder, Public Private Strategies and President, Public Private Strategies Institute Rhett Buttle is an entrepreneur, advocate, and one of the most trusted leaders at the intersection of business and policy in Washington, DC. Most recently, Rhett served as National Business Advisor to President Joe Biden’s 2020 campaign. He has worked for President Barack Obama, Secretary of State Hillary Clinton, and Governor Arnold Schwarzenegger. Rhett is the founder of Public Private Strategies (PPS) and President of the Public Private Strategies Institute (PPSI), which works to bring together the public and private sectors to build coalitions, activate campaigns, and create strategic partnerships to drive policy and market outcomes. In these roles, he advises leading policymakers, foundations, nonprofits, and corporations. About Public Private Strategies Public Private Strategies (PPS) creates opportunities where the public and private sectors meet. We bring together diverse allies including foundations, associations, corporations, small businesses, and entrepreneurs to solve pressing societal challenges. By harnessing the power of the private sector, we build coalitions, activate campaigns, and create strategic partnerships to drive desired policy and market outcomes. Learn more at www.publicprivatestrategies.com . As the United States marks the 14th anniversary of the AffordableCare Act (ACA), more Americans now have health care coverage than ever before. Since its enactment in 2010, the ACA has been a vital tool for Main Street, providing access to affordable healthcare options and fostering a healthier, more productive workforce.
20 Mar, 2024
WASHINGTON, D.C. – As the United States marks the 14th anniversary of the AffordableCare Act (ACA), more Americans now have health care coverage than ever before. Since its enactment in 2010, the ACA has been a vital tool for Main Street, providing access to affordable healthcare options and fostering a healthier, more productive workforce. Over the past decade, the ACA has significantly benefited entrepreneurs and workers by offering affordable coverage options through Health Insurance Marketplaces, providing tax credits to ease the cost of providing healthcare, and eliminating pre-existing condition exclusions. These provisions have brought stability and predictability to healthcare costs, allowing businesses to plan for the future with confidence. To mark the 14-year anniversary of the ACA, Rhett Buttle, Founder of Public Private Strategies and appointee at the Department of Health and Human Services under President Obama, released the following statement: "The Affordable Care Act has been an important milestone for businesses, entrepreneurs and workers across America. Today, more Americans have health insurance than ever before in our history. By offering affordable healthcare options and removing barriers, the ACA has allowed entrepreneurs to focus on what they do best – innovate, grow, and create jobs. “The ACA has set a strong foundation for access to high-quality and affordable care, but there’s so much more we need to do to help our job creators thrive. Building off the ACA, the Inflation Reduction Act takes important steps to tackle healthcare costs in our country. We must continue this progress and tackle these important issues. In survey after survey , small business owners have identified the cost of healthcare and prescription drug prices as their top concern. We should strengthen recent action to lower the cost of prescription drugs and continue to provide strong subsidies to make the plans offered under the ACA affordable to more Americans.” ### About Rhett Buttle, Founder, Public Private Strategies and President, Public Private Strategies Institute Rhett Buttle is an entrepreneur, advocate, and one of the most trusted leaders at the intersection of business and policy in Washington, DC. Most recently, Rhett served as National Business Advisor to President Joe Biden’s 2020 campaign. He has worked for President Barack Obama, Secretary of State Hillary Clinton, and Governor Arnold Schwarzenegger. Rhett is the founder of Public Private Strategies (PPS) and President of the Public Private Strategies Institute (PPSI), which works to bring together the public and private sectors to build coalitions, activate campaigns, and create strategic partnerships to drive policy and market outcomes. In these roles, he advises leading policymakers, foundations, nonprofits, and corporations. About Public Private Strategies Public Private Strategies (PPS) creates opportunities where the public and private sectors meet. We bring together diverse allies including foundations, associations, corporations, small businesses, and entrepreneurs to solve pressing societal challenges. By harnessing the power of the private sector, we build coalitions, activate campaigns, and create strategic partnerships to drive desired policy and market outcomes. Learn more at www.publicprivatestrategies.com . As the United States marks the 14th anniversary of the AffordableCare Act (ACA), more Americans now have health care coverage than ever before. Since its enactment in 2010, the ACA has been a vital tool for Main Street, providing access to affordable healthcare options and fostering a healthier, more productive workforce.
08 Mar, 2024
WASHINGTON, D.C. – Last night, President Biden delivered the State of the Union Address and focused heavily on the economy and the strength of small businesses as a critical part of America’s economic resurgence. Following the President’s address, business leaders and small business owners across the country shared their reactions and outlook on the economy. Here’s what they’re saying. Ron Busby Sr., President & CEO, U.S. Black Chambers, Inc. (USBC): "The U.S. Black Chambers, Inc. (USBC) acknowledges President Biden's recent State of the Union Address and its significance in outlining the administration's priorities for the nation. As the nation’s voice of Black businesses, we commend President Biden’s reaffirmed commitment to ensure more of our small businesses can access the capital and resources necessary to thrive in the years ahead. "While we applaud the progress of several policy initiatives outlined by President Biden, we continue to emphasize the necessity of a comprehensive approach to address the unique challenges facing Black entrepreneurs and communities, including the safeguarding public sector programs fostering diversity, equity, and inclusion initiatives for a more just economy. Given the onslaught of executive order policies focusing on advancing racial equity since the beginning of this administration, the USBC believes that President Biden should be more intentional at outlining his progress on commitments made to create a fairer country. "As advocates for economic justice, the USBC remains dedicated to collaborating with the administration, Congress, and other stakeholders to ensure that federal policy measures translate into tangible improvements for the entire Main Street ecosystem. We encourage a continued dialogue that addresses the root causes of economic disparities while actively promoting initiatives fostering growth, sustainability, and prosperity for the Black Americans and our business community." Rhett Buttle, Founder, Public Private Strategies & President, Public Private Strategies Institute: “Three years ago, the American economy was on the brink. We were in the midst of a deadly pandemic. Small businesses across the country were struggling with the fallout from COVID. Attacks on the foundation of American democracy had rattled consumer and investor confidence. “The past three years have been defined by America’s historic economic resurgence thanks to bipartisan investments in infrastructure, manufacturing, workers, and small businesses. The provisions of the American Rescue Plan, Bipartisan Infrastructure Law, CHIPS and Science Act, and the Inflation Reduction Act are generating impressive economic growth that is fueling a small business boom and benefiting Americans across the economy. “The proof is in the data. Consumer sentiment is approaching the highest levels we’ve seen since the onset of COVID. Inflation has cooled to 3.1%. Wage growth has been steadily above 5% for the past two years, with most of the wage gains benefitting middle-income and low-income households. The stock market continues to hit record highs. There have been 16 million new small business applications in the past 3 years, the strongest period on record. And unemployment remains well below 4%. “Despite these successes, there is so much work to be done at home and abroad to defend democracy and strengthen the economy. We need to continue to focus on protecting our democracy, the foundation of a strong economy. We must continue investing in economic policies like tax fairness and lowering healthcare costs that help small businesses thrive. And we must continue targeting investments to historically disadvantaged small businesses to create a fair economy full of Good Jobs and strong growth. “The Administration has indicated that they are ready to double down on its investment in American jobs and American businesses by promoting competition, slashing junk fees and price gouging, and building a business environment with a level playing field. Small business and the private sector must be at the center of this work, and we at Public Private Strategies look forward to working with the President and all policymakers -- across any affiliation -- to do this work.” Ramiro Cavazos, President & CEO, United States Hispanic Chamber of Commerce (USHCC): “Hispanic-owned businesses across the country continue to thrive as a result of bipartisan policies, including the Infrastructure Investment and Jobs Act and the CHIPS and Science Act. Both acts have spurred renewed investment in critical industries, from manufacturing and energy to construction. Hispanic business owners have established strong footprints in these industries, and as a result, are creating more jobs and fueling economic growth. “The United States Hispanic Chamber of Commerce is encouraged by federal investments that are rebuilding America's infrastructure for the 21st century and strengthening domestic supply chains. These investments are creating more opportunities for Hispanic entrepreneurs, as Latino business ownership has grown at the fastest pace in at least a decade, rising from 7% to 10% between 2019 and 2022. In addition, we’re optimistic about the potential of the State Small Business Credit Initiative to coordinate with Community Development Financial Institutions and other microlending institutions, presenting opportunities to direct capital toward minority business owners. “To support the five million Hispanic-owned businesses in the U.S., the USHCC urges President Biden and Congress to build on investments that have supported strong economic growth." Lisa Coppola, Board Chair, National Association of Women Business Owners (NAWBO): “In the last three years, we’ve seen an undeniable growth in new small businesses across the country. In 2023 alone, women-created businesses overall increased by 17%, and they’re driving significant economic gains across key industries including manufacturing, construction and home improvement. “This impressive growth is the result of important investments made through bipartisan legislation, including the Infrastructure Investment and Jobs Act and the CHIPS & Science Act, which have driven federal investment towards manufacturing and construction. The CHIPS and Science Act has also spurred crucial investments in childcare options, no doubt leveling the playing field for working mothers. “We look forward to working with Congress, and the Administration, to increase opportunities for women-owned businesses across the country.” Angela Dingle, President & CEO, Women Impacting Public Policy (WIPP): “On behalf of America’s 14 million women owned businesses, Women Impacting Public Policy applauds the President’s address to Congress, which highlighted the historic growth of new small businesses in the last three years. Women have been on the forefront of this historic boom in small business, in fact, from 2022 to 2023, the rate of growth for women owned businesses increased to 4.5 times that of their male counterparts. Women are also securing higher paying jobs and growing their footprint in traditionally male dominated fields, including construction, HVAC, and plumbing. “This is in part a result of strong federal investments in those industries via the Bipartisan Infrastructure Law, the CHIPS and Science Act and the Inflation Reduction Act. Through these investments, women owned firms have expanded access to contracting opportunities and more resources to grow their businesses. We look forward to working with the Administration and Congress to ensure that Women Owned Small Businesses (WOSBs) have access to opportunities in the Invest in America Agenda.” Chris James, President and CEO, The National Center for American Indian Enterprise Development: “Indian Country businesses have a true friend in the Biden-Harris Administration. The American Rescue Plan, the Bipartisan Infrastructure Law, and the Inflation Reduction Act included historic investments in Indian Country, helping tribal and Native-owned businesses survive - and even thrive - despite facing strong economic headwinds. Since then, the Administration’s successful effort to boost federal procurement for Native-owned businesses and executive order that empowers tribes to take control of their own destinies prove its commitment was far more than a flash in the pan. We look forward to continuing to be a part of the Administration’s inclusive economic agenda that leans into the idea that we are much stronger united than divided.” Carolina Martinez, CEO, California Association for Microenterprise Opportunity (CAMEO): “During the President’s State of the Union, we were pleased to see him continue to emphasize the important contributions that micro-business owners, especially, women of color, have made to our economy – truly highlighting how they have been engines of economic power. “In the last three years, we’ve witnessed a historic boom in small businesses, driven in part by critical federal investments in key industries, including manufacturing, construction, tech, and energy. In California and across the country, we are energized to see the growth that micro-businesses are experiencing due to these once in a lifetime investments. “Micro-businesses have emerged as key contributors to growth and innovation, punching above their weight with respect to job creation, often outpacting larger firms. These firms continue to have a larger impact on the economy as their ranks expand, and that growth is largely being driven by women, who now represent 40% of all self-employed individuals, up from 34% in 2016. “We hope that in the months ahead, the Administration will continue to find ways to continue to invest in innovative lending programs to support micro-businesses. We know that deployment of capital programs, such as the State Small Business Credit Initiative (SSBCI), which has allocated $3.4 billion to be deployed or administered by CDFIs across the country, has provided much need capital in support of micro-businesses, we hope the Administration will continue to make those types of investment going forward.” Ying McGuire, President and CEO, National Minority Supplier Development Council: “In the wake of President Biden's State of the Union address, we celebrate the economic achievement Americans have experienced thanks to the efforts of the past few years. The passage of the Bipartisan Infrastructure Bill, the Inflation Reduction Act, and the CHIPS and Science Act are already generating growth and innovation across the country proving that investing in America yields results that will last for generations. “In just three years, we have witnessed the historic milestone of 16 million new business applications filed – proof that even in the face of uncertainty as we emerged together from a global pandemic, the spirit of America – one of courage and resilience – can meet any challenge. This is especially true for Black, Hispanic, AAPI, and Native American individuals who saw accelerated economic growth due to both the president’s leadership and their communities' drive to see the American dream fully manifest. This collective effort across America's diverse communities shows our differences make our nation stronger. Minority businesses are at the heart of that transformation, and we thank the Biden Administration for championing the economic growth of MBEs all across the country.” Justin Nelson, President & Co-Founder, National LGBT Chamber of Commerce (NGLCC): “Over the past three years, there has been remarkable growth in small business creation, surpassing expectations in the post-pandemic economy. Within this period of notable small business expansion, LGBTQ+ owned businesses have particularly stood out with impressive growth. From January to July 2023, there was a notable 33% increase in LGBTQ+ business ownership. “Many factors can be attributed to this strong growth, including significant federal investments in key industries through bipartisan legislation, including the Infrastructure Investment and Jobs Act and the CHIPS and Science Act. Once in a lifetime investments made through these laws have already begun to create opportunities for LGBTQ+ firms to access capital for their businesses through contracting and grant opportunities. “The nation’s estimated 1.4 million LGBTQ businesses, who contribute over $1.7 trillion to the US economy annually, have helped fuel this economic growth and urge Congress and the Administration to build on crucial investments that have helped entrepreneurs start and grow businesses.” Chiling Tong, President & CEO, National Asian Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE): “Since 2021, we’ve witnessed historic growth in small business ownership as more than 16 million new small businesses have opened. Policies signed into law under the Biden Harris Administration, including the Infrastructure Law, the CHIPS and Science Act and the Inflation Reduction Act are helping drive this historic growth of small businesses. “Among the 16 million new small businesses, America's Asian American Pacific Islander (AAPI) small businesses have demonstrated unparalleled growth, soaring by an impressive 13% from January to July 2023. Notably, Asian American women-owned businesses exhibited remarkable dynamism, registering a commendable 7.5% growth between July 2019 and 2023. “We’re pleased to see the sustained growth of AAPI small businesses, and look forward to helping more AAPI entrepreneurs grow their businesses through our Capital Readiness Program, which supports the development of technical assistance programming and small business incubators across the country.” Anne Zimmerman, Founder & Owner, Zimmerman & Co. CPAs and Treasurer of Anderson Area Chamber of Commerce in Cincinnati, Ohio, and Small Business for America’s Future Co-Chair: “I was glad to hear in the State of the Union Address that the commitment to the economy remains strong because it's clear that our nation's economic vitality is closely tied to the health of our small businesses. With record low unemployment and strong demand for workers, bipartisan policies such as the CHIPS and Science Act, Bipartisan Infrastructure Act, and the Inflation Reduction Act have been instrumental in paving the way for small businesses to lead in job creation. With a record 10.2 million new small business starts since 2021, establishing a fair tax code is crucial for their success and for the country to capitalize on the potential economic activity that this boom in entrepreneurship could deliver. I urge our lawmakers to maintain their support for small businesses, recognizing their pivotal role in our ongoing economic prosperity.” ###
07 Mar, 2024
WASHINGTON, D.C. – This evening, President Biden will deliver the State of the Union Address and is expected to discuss the economy and the strength of small businesses as a critical part of America’s economic resurgence. Ahead of the President’s address, Rhett Buttle, Founder, Public Private Strategies & President, Public Private Strategies Institute, released the following statement: “Three years ago, the American economy was on the brink. We were in the midst of a deadly pandemic. Small businesses across the country were struggling with the fallout from COVID. Attacks on the foundation of American democracy had rattled consumer and investor confidence. “The past three years have been defined by America’s historic economic resurgence thanks to bipartisan investments in infrastructure, manufacturing, workers, and small businesses. The provisions of the American Rescue Plan, Bipartisan Infrastructure Law, CHIPS and Science Act, and the Inflation Reduction Act are generating impressive economic growth that is fueling a small business boom and benefiting Americans across the economy. “The proof is in the data. Consumer sentiment is approaching the highest levels we’ve seen since the onset of COVID. Inflation has cooled to 3.1%. Wage growth has been steadily above 5% for the past two years, with most of the wage gains benefitting middle-income and low-income households. The stock market continues to hit record highs. There have been 16 million new small business applications in the past 3 years, the strongest period on record. And unemployment remains well below 4%. “Despite these successes, there is so much work to be done at home and abroad to defend democracy and strengthen the economy. We need to continue to focus on protecting our democracy, the foundation of a strong economy . We must continue investing in economic policies like tax fairness and lowering healthcare costs that help small businesses thrive. And we must continue targeting investments to historically disadvantaged small businesses to create a fair economy full of Good Jobs and strong growth. “The Administration has indicated that they are ready to double down on its investment in American jobs and American businesses by promoting competition, slashing junk fees and price gouging, and building a business environment with a level playing field. Small business and the private sector must be at the center of this work, and we at Public Private Strategies look forward to working with the President and all policymakers -- across any affiliation -- to do this work.” ###
12 Jan, 2024
WASHINGTON, D.C. – Today, the Biden-Harris Administration announced a record 16 million new small business applications in the last three years. The numbers also highlighted that diverse-owned businesses are on the rise. These statistics are a testament to the significant impact that the Investing in America agenda has had for businesses owners, diverse businesses, and their communities. The record number of new business applications is also a sign that small businesses and entrepreneurs are confident and optimistic about the economy, generating resilient and competitive markets, and growing opportunities for Americans. Following the announcement, Rhett Buttle, Founder of Public Private Strategies, released the following statement: “This historic number of new business applications is an exciting sign of the economic resilience of American entrepreneurial spirit. As a result of the investment through the Investing America agenda, led by the Biden-Harris Administration and Congress, small business owners and entrepreneurs are newly equipped with the tools necessary to succeed and excel. These investments, the majority of them the result of bipartisan cooperation, from the Bipartisan Infrastructure Law, Inflation Reduction Act, and Chips and Science Act, are delivering for communities across the country and creating an economy where businesses small and large can thrive. Coming out of the global pandemic the United States has seen unprecedented growth with major new federal investments providing small business owners and entrepreneurs with the tools and resources to generate new businesses, jobs, and a strong economic future.” ###
12 Jan, 2024
WASHINGTON, D.C. – Last week, a bipartisan group of members from both the Senate and the House of Representatives announced an effort to advance paid leave legislation. The new, bicameral efforts will explore solutions to paid parental, caregiving, and personal medical leave for all Americans. The bipartisan group is seeking input from advocacy, business, and other stakeholder organizations to ensure the policies put forth by the group are effective and meaningful for employers and employees. The Request for Information creates a framework for stakeholder input and ensures that small and large business voices are heard throughout the process. In May, Public Private Strategies facilitated a roundtable with the House Paid Leave Working Group and small business leaders and owners from 11 organizations to discuss the opportunities and challenges to offering paid family and medical leave benefits for employees. The roundtable explored potential pathways forward for both small business owners and the self employed. In a report published by the House Paid Leave Working Group, key findings from the roundtable included: Small business owners want to provide paid leave to their workers. Small businesses recognize that paid family leave would level the playing field with large employers, helping them compete with larger employers to attract and retain workers. Highlighting how government supported solutions to expand access to paid leave can incentivize entrepreneurship by giving entrepreneurs themselves access to the benefit. Small business owners want to provide the benefit, they grapple with two primary challenges in doing so: cost and staffing. Following the announcement, Katie Vlietstra Wonneberg, Principal of Public Private Strategies, released the following statement: “The announcement last week of the Senate Bipartisan Working Group and the Bicameral Bipartisan RFI to explore solutions around paid leave is an exciting new step in the right direction to creating a paid leave policy. In the 30 years since the creation of FMLA, we have yet to advance paid leave that is inclusive of all size businesses. “The business community has been active in the conversations over the past year in coordination with the House Bipartisan Work Group. With the next iteration of these conversations being convened in the Senate, there is a great opportunity to continue to engage with the business community, who see paid leave as a way to ensure small businesses can compete for talent, provide a valued benefit to employees, and ensure continuity in their workforce. Public Private Strategies applauds the bicameral, bipartisan efforts to ensure that all stakeholders are invited to participate and explore innovative pathways forward on paid leave. We welcome the opportunity to work closely with each office to provide insights and expertise on a framework that works for all businesses including the self employed.” ###
19 Dec, 2023
WASHINGTON, D.C. – Last week, a bipartisan group of members from both the Senate and the House of Representatives announced an effort to advance paid leave legislation. The new, bicameral efforts will explore solutions to paid parental, caregiving, and personal medical leave for all Americans. The bipartisan group is seeking input from advocacy, business, and other stakeholder organizations to ensure the policies put forth by the group are effective and meaningful for employers and employees. The Request for Information creates a framework for stakeholder input and ensures that small and large business voices are heard throughout the process. In May, Public Private Strategies facilitated a roundtable with the House Paid Leave Working Group and small business leaders and owners from 11 organizations to discuss the opportunities and challenges to offering paid family and medical leave benefits for employees. The roundtable explored potential pathways forward for both small business owners and the self employed. In a report published by the House Paid Leave Working Group, key findings from the roundtable included: Small business owners want to provide paid leave to their workers. Small businesses recognize that paid family leave would level the playing field with large employers, helping them compete with larger employers to attract and retain workers. Highlighting how government supported solutions to expand access to paid leave can incentivize entrepreneurship by giving entrepreneurs themselves access to the benefit. Small business owners want to provide the benefit, they grapple with two primary challenges in doing so: cost and staffing. Following the announcement, Katie Vlietstra Wonneberg, Principal of Public Private Strategies, released the following statement: “The announcement last week of the Senate Bipartisan Working Group and the Bicameral Bipartisan RFI to explore solutions around paid leave is an exciting new step in the right direction to creating a paid leave policy. In the 30 years since the creation of FMLA, we have yet to advance paid leave that is inclusive of all size businesses. “The business community has been active in the conversations over the past year in coordination with the House Bipartisan Work Group. With the next iteration of these conversations being convened in the Senate, there is a great opportunity to continue to engage with the business community, who see paid leave as a way to ensure small businesses can compete for talent, provide a valued benefit to employees, and ensure continuity in their workforce. Public Private Strategies applauds the bicameral, bipartisan efforts to ensure that all stakeholders are invited to participate and explore innovative pathways forward on paid leave. We welcome the opportunity to work closely with each office to provide insights and expertise on a framework that works for all businesses including the self employed.” ###
21 Nov, 2023
WASHINGTON, D.C. – Since 2010, Small Business Saturday has recognized and celebrated the contributions of small, independent businesses, which are the foundation of the U.S. economy and the lifeblood of local communities. November and December account for almost 20% of small businesses total retail sales each year, making the holiday season a critical time for local entrepreneurs, Main Streets across the country, and economic growth overall. Due to the economic investments made by the Biden-Harris Administration including the Bipartisan Infrastructure Law, Inflation Reduction Act, and CHIPS and Science Act, we have seen historic investments in small businesses. A recently released fact sheet by the White House shows the impact of these investments in communities, including a record 14.6 million applications to start businesses. Ahead of this year’s Small Business Saturday, Rhett Buttle, Founder of Public Private Strategies, released the following statement: “The holiday season is one of the most vital times of the year for small businesses, bringing workers, consumers, communities, and the economy together and generating innovation and prosperity,” said Rhett Buttle. “Small businesses employ over 61 million Americans, about half of private sector employees, and are the backbone of our communities and economy. Data from the U.S. Census Bureau on new small business applications shows that the past two years have been the strongest two years on record for new small business applications – as a result of the Investing in America agenda. As entrepreneurs continue to build small businesses, economic growth flows into communities across the country, encouraging investments and fostering a stronger economy and democracy.” Here are Some of the Public Private Strategies Team’s Favorite Small Businesses: Beuch e rt’s Saloon - District of Columbia Hill’s Kitchen - District of Columbia Salt & Sundry - District of Columbia Brave + Kind Bookshop - Georgia Revelry Brewing - Maryland Snug Books - Maryland Pamela Salisbury - New York Sphere + Sundry - Online Brut Champagne and Wine Bar - Virginia Grooming Store - Virginia Reedville Coffee House - Virginia Independent K9 - West Virginia ###
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