SBA Going to Work to Aid Firms Owned by Women.THERE was good news and not-so-good news for small-business owners released in the past two weeks. The good news is that the volume of loans to women business owners Many online and offline organizations have been created to collect information about businesses around the world owned and operated by women. Many other organizations have been created to assist the women that own and operate those businesses. backed by the U.S. Small Business Administration has almost tripled since 1992. - The bad news is that another survey reveals a looming labor shortage A Labor shortage is an economic condition in which there are insufficient qualified candidates (employees) to fill the market-place demands for employment at any price. This condition is sometimes referred to by Economists as "an insufficiency in the labor force. for small companies. "Women play a huge economic, cultural and social role in every part of American life," said SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government Administrator Aida Alvarez. "Through financial, technical and management assistance, the SBA is doing more than ever to help level the playing field for women entrepreneurs who still face obstacles." Alvarez, noting that March is National Women's History month Women's History Month is an annual declared month in the United States that highlights contributions of women to events in history. March is declared Women's History Month. The annual event traces its beginnings to the first International Women's Day in 1911. , said the SBA has backed more than 69,440 loans since 1992, providing guarantees worth $10.7 billion. (The SBA does not lend money directly to business owners. It provides loan guarantees for loans written by other lending institutions.) To help women just starting a business, the SBA offers a loan pre-qualification program that helps women through the application process. Alvarez said she is encouraging more venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: to invest in women-owned firms. In fiscal 1999, the SBA's Small Business Investment Company Program invested $4.2 billion in small firms; however, only 1 percent, or $55 million, went to women-owned companies. Today, nearly 40 percent of all businesses -- about 9.1 million -- are owned by women. Their companies employ 27.5 million workers, and post more than $3.6 trillion in annual sales, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Alvarez. Alvarez noted that the SBA is also working to increase federal contracting opportunities for women entrepreneurs. In fiscal 1998, women-owned companies won $4 billion worth of federal contracts. The agency has signed agreements with 10 federal agencies and 15 business and professional women's organizations This is a list of women's organisations. International
Reporting by Julie Neal. Jane Applegate is the author of "201 Great Ideas for Your Small Business," and is founder of ApplegateWay.com, a multimedia Web site for bury entrepreneurs. |
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