Bill Overview
Title: Women’s Business Centers Improvement Act of 2022
Description: This bill reauthorizes the Women's Business Center Program through FY2025, raises the cap on individual center grants, establishes an accreditation program for grant recipients, and revises the duties of the Office of Women's Business Ownership. Specifically, the bill modifies the Women's Business Center Program to enable the Small Business Administration (SBA) to provide initial and continuation grants to eligible entities to operate women's business centers for the benefit of women-owned small businesses. The SBA must also publish standards for a program to accredit entities that receive grants from the Women's Business Center Program, and such entities' receipt of continuation grants shall be contingent upon their obtaining accreditation.
Sponsors: Rep. Davids, Sharice [D-KS-3]
Target Audience
Population: Women entrepreneurs and women-owned small businesses
Estimated Size: 5000000
- The bill focuses on women's business centers, which are designed to support women entrepreneurs and women-owned small businesses.
- There are millions of women entrepreneurs around the world who could potentially benefit from strengthened support systems like women's business centers.
- The initiative to improve women's business centers may improve access to resources, mentorship, and financial support for women in business.
Reasoning
- We have a variety of women entrepreneurs across different industries, including different stages of business (startup vs. established).
- Some interviews include women with established businesses who may see a moderate impact through enhanced networking and resources.
- Others include women who are just starting and would highly benefit from the initial grants to overcome the startup phase challenges.
- It's important to include women who may not feel impacted to represent those who might not engage with these centers.
- The budget may limit how many business centers can be improved and grant size caps can impact the depth and reach of help. That said, the policy is designed to reach as many women as possible within its constraints.
Simulated Interviews
Small Business Owner (Retail) (New York, NY)
Age: 45 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- I think having more resources through the women's business centers would be beneficial, especially post-pandemic.
- With potential grants and support, I could revitalize my business and attract more customers.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 8 | 5 |
| Year 10 | 8 | 5 |
| Year 20 | 7 | 5 |
Tech Startup Founder (San Francisco, CA)
Age: 33 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 15/20
Statement of Opinion:
- This initiative seems like a great opportunity for networking and mentorship.
- I'm eager to apply for these grants as managing cash flow has been challenging.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 9 | 6 |
| Year 10 | 9 | 6 |
| Year 20 | 8 | 5 |
Marketing Consultant (Austin, TX)
Age: 38 | Gender: female
Wellbeing Before Policy: 4
Duration of Impact: 3.0 years
Commonness: 12/20
Statement of Opinion:
- Any financial aid or consultancy through the centers would definitely help me expand.
- Right now, it's hard to compete with bigger firms.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 4 |
| Year 2 | 6 | 4 |
| Year 3 | 6 | 4 |
| Year 5 | 6 | 4 |
| Year 10 | 6 | 4 |
| Year 20 | 5 | 4 |
Restaurant Owner (Miami, FL)
Age: 29 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 2.0 years
Commonness: 14/20
Statement of Opinion:
- If these centers can provide ways to better manage business finances, that would help.
- Access to culinary networking events or resources would be a plus.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 6 |
Non-Profit Director (Chicago, IL)
Age: 56 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 10.0 years
Commonness: 7/20
Statement of Opinion:
- Strongly supportive of enhancing these centers as it aligns with our mission.
- Helps us network with more young entrepreneurs needing support.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 8 |
| Year 20 | 9 | 8 |
Freelance Graphic Designer (Denver, CO)
Age: 42 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 4.0 years
Commonness: 13/20
Statement of Opinion:
- The program could provide crucial resources as I transition from freelance to business.
- Hoping to learn more about business planning.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 7 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 7 | 4 |
Fashion Designer (Los Angeles, CA)
Age: 50 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 5.0 years
Commonness: 11/20
Statement of Opinion:
- While my business is stable, the policy could open up new networking avenues.
- I'm optimistic it could enhance my brand's reach.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 8 | 8 |
| Year 20 | 8 | 7 |
Baker (Portland, OR)
Age: 24 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 6.0 years
Commonness: 9/20
Statement of Opinion:
- Almost overwhelming running a new business; I need all the help I can get.
- Grants or low-interest loans could take off some financial stress.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 5 |
Health Coach (Atlanta, GA)
Age: 37 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 8/20
Statement of Opinion:
- Access to a wider network through these centers could boost my client reach.
- Marketing advice would be fantastic.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 8 | 6 |
Author and Public Speaker (Boston, MA)
Age: 60 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 10.0 years
Commonness: 6/20
Statement of Opinion:
- Sounds promising; more women should have access to these resources.
- I would like to contribute knowledge and experience to upcoming entrepreneurs.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 8 | 8 |
| Year 20 | 8 | 8 |
Cost Estimates
Year 1: $30000000 (Low: $20000000, High: $40000000)
Year 2: $31000000 (Low: $21000000, High: $41000000)
Year 3: $32000000 (Low: $22000000, High: $42000000)
Year 5: $35000000 (Low: $25000000, High: $45000000)
Year 10: $40000000 (Low: $30000000, High: $50000000)
Year 100: $45000000 (Low: $35000000, High: $55000000)
Key Considerations
- Accreditation will be essential to ensure the quality and credibility of women business centers.
- Measurable economic impacts might take several years to fully manifest.
- The effectiveness of the program depends on efficient grant allocation and administration.
- The economy's overall state can amplify or mitigate the impacts of the program.