On October 12, the House Small Business Subcommittee on Health and Technology held a hearing, “Fostering Women’s Entrepreneurial Success.”
In addition to highlighting the entrepreneurial achievements of women, the hearing considered challenges faced by female entrepreneurs, such as access to capital and technical resources. During the hearing, the witnesses explained that in 2016, 11.3 million women-owned small businesses generated $1.6 trillion in revenue; however, the majority of female entrepreneurs start out with half the capital of their male counterparts, and receive less than 10 percent of all venture funding.
Witnesses noted the important role of Women’s Business Centers in promoting entrepreneurial success, and suggested that additional funding and resources for the program would increase the knowledge, skills, and confidence of women in small business.
The following witnesses testified:
