2013: The Year of the Woman Entrepreneur

3:35 PM March 5, 2013

This year, America celebrates the birth of today's fastest growing economic force - the woman entrepreneur. Twenty- five years ago the Women's Ownership Act (H.R. 5050) was passed, allowing women to get a loan without a male cosigner and fully reporting the economic impact of women business owners.

The modern American would most likely be outraged by the idea of a woman needing her husband or father's signature to get a loan, a fact buried so deeply in the nation's memory that it speaks volumes of the strides women have made in our society. Yet it is important not to forget the constant struggle for economic independence that women have foraged throughout decades, and it is even more important to continue moving forward.

Not only did the Women's Ownership Act grant women the ability to attain capital but it also required the US Census Bureau to include C corporations in the calculation of women-owned firms. Including this data more than doubled the reported number of Americans employed by women-owned firms, finally highlighting the economic impact of women businesses.

H.R. 5050 serves as part of the foundation which WIPP and its members are continuing to build, the foundation upon which women today can launch their businesses and their dreams. March is Women's History Month and while there is so much history to celebrate this month, it is appropriate that we take the entire year to celebrate women business owners - it is they who will lead the path to recovery, and it is their entrepreneurial spirit that will enable the next generation of American women to have the same opportunities as their male counterparts, including getting a loan in their own name.

To see WIPP President Barbara Kasoff's statement on the 25th anniversary of HR 5050 go here: http://bit.ly/Wm5zdt

by Cielo Villasenor, WIPP Government Relations



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