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Why it is Important to Recognize Equal Pay Day

Today, April 14, 2015, we recognize Equal Pay Day. This day marks how far into the year American women must work to earn what American men earned in the previous year. The National Committee on Pay Equality put Equal Pay Day into place in 1996 as a public awareness event to alert people of the gap between men and women's wages.  The White House estimates that full-time working women only earn 77% of what their male counterparts earn. This means women need to work about 60 EXTRA days to earn what men have earned in the previous year! In short, it is important to remember this day each year, as long as this gap continues to exist.

 

Please check out this list of resources on Equal Pay Day:

A Women's Place is On the Money

3:13 PM March 5, 2015

It seems ironic that while women control as much as 80 percent of the consumer buying decisions in this country and increasingly are taking the helm at businesses large and small, they are not represented on the bills in our wallets. There's one woman who's on a mission to change that -- WIPP member Barbara Ortiz Howard and her nonprofit Women On 20s.

This week, in conjunction with the start of Women's History Month, Barbara and her team hope Americans everywhere will visit the website, www.womenon20s.org to have them vote on their choice for the woman to replace Andrew Jackson on the $20 bill. Treasury code requires that portraits on paper currency be of individuals of great stature, but they have to be deceased. Changing one of those faces can be ordered by the Treasury Secretary or the President without an act of Congress. Last August, President Obama tipped his hat toward the idea of featuring more women on U.S. currency in an off-the-cuff remark during a speech in Ohio. Barbara's strategy is to encourage him to take the next step with a public mandate achieved through this online referendum. Barbara believes that having a woman's portrait on our paper money "can become a symbol of greater changes to come."  Recognizing women's historical accomplishments and contributions to our society by "elevating them to their rightful place alongside men on our money," she says, "is something that's long overdue."

Part of the Women On 20s mission is to have the new "woman's bill" issued in time for the 100th anniversary in 2020 of the passage of the 19th Amendment giving women the right to vote. While no Congressional approval is required, the process of producing a new issue can take several years, from commissioning to design to minting. The organization believes the $20 bill is ripe for change. It's due for a redesign in keeping with efforts to prevent counterfeiting. 

Barbara, owner of All County Restoration, a roofing company outside of New York City, is no stranger to the challenges of working in a male-dominated business. She has long been irked by the absence of a woman's image on our paper money. About a year ago she decided to try and do something about it by launching the Women On 20s campaign. She took her inspiration from her daughter and her athletic, "sporty-girl" friends. She explained, "as they grew up I wanted to honor their individuality, pride and expectations that they'll be valued as women who can and will succeed on a level playing field with men."

Women On 20s Executive Director Susan Ades Stone says she shaped the campaign not only to achieve the goal of getting a woman's portrait on the $20 bill, but to educate and stimulate conversation, "not just a national conversation, but conversation at every dinner table in America." By recognizing the accomplishments of the 15 women on the slate of candidates, she said, "we hope to honor all women. The idea is to give as many Americans as possible a chance to take part in something so much larger than just changing a face on a bill."

WIPP supports the Women On 20s mission and we hope our trail-blazing members will cast their votes beginning March 1st and take to Facebook, Twitter and other social media to spread the word. As the campaign's slogan states -- and we wholeheartedly agree, "A Woman's Place is on The Money.

 

 

If you are a woman entrepreneur trying to raise venture capital, this article, written by Vivian Giang, will certainly guide through the majors difficulties. It will let you succeed in the "Jungle" of raising venture capital funds, or at least it is going to give very useful advices. This article (Hyperlink) shares the stories of six women entrepreneurs who have successfully acquired funding in this complicated system.

Sure statistics prove that the method of financing still has some challenges, especially when you think that male entrepreneurs are 40% more likely to get VC funding than female founders, but change is on the horizon, and these entrepreneurs are certainly an example of tenacity and sharpness.

Get to know Nicole Sanchez, founder of luxury hair distribution company, VIXXENN ; Jessica Richman, cofounder and CEO of uBiome, a platform for microbiome sequencing; Mada Seghete, cofounder of developer tool, Branch Metrics; Mona Bijoor, founder and CEO of JOOR, a private online fashion marketplace for wholesale buying; Fern Mandelbaum, entrepreneur, managing partner at Vista Venture Partners and lecturer at Stanford Business School; and Umaimah Mendhro, cofounder and CEO of VIDA, an e-commerce platform that aims to connect designers, artists, producers, and consumers.

Read the article here.


Women Impacting Public Policy joined a recent White House Business Council Meeting to share how various policies are affecting women business owners across the country. The meeting included several White House staff along with top officials from the Department of Commerce and the Small Business Administration.

 

At the meeting, WIPP stressed the importance of capital access as the critical issue for women business owners looking to start and grow their companies, and highlighted WIPP's 2013 Annual Survey finding that it takes an average of two attempts for women business owners to secure funding.

 

Commerce Undersecretary for Economic Affairs, Mark Doms, agreed that the economy would be best served by giving business owners more access to capital. The Commerce Department's new strategic plan, America is Open for Business, reflects that priority by stressing innovation and investment.  

 

SBA Associate Administrator for Capital Access Ann Marie Mehlum concurred, saying her office will continue to identify opportunities to expand access while strengthening SBA's already available capital access programs. She went on to highlight the 7(a) loan program, which supported more than $15 billion in small business loans in FY13.

 

The meeting closed with a discussion of how trade can be used to fuel growth for businesses of all sizes. The Administration agreed there is a need for streamlining and simplification in exporting as well as engaging the women's business community on the value of selling goods and services abroad. Both of those priorities are at the front of WIPP's ExportNOW program that encourages women entrepreneurs to grow beyond our borders.

 

These meetings are open dialogues with policymakers, giving WIPP's advocacy team the opportunity to share ideas and concerns raised by WIPP's members.

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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