Bill Overview
Title: Women’s Business Centers Improvement Act of 2022
Description: This bill reauthorizes the Women's Business Center Program through FY2026, 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: Sen. Cardin, Benjamin L. [D-MD]
Target Audience
Population: women entrepreneurs who own small businesses
Estimated Size: 13000000
- The Women's Business Centers Improvement Act is designed specifically for women-owned small businesses, meaning it directly targets and impacts female entrepreneurs who own and operate small businesses.
- According to the National Association of Women Business Owners (NAWBO), as of 2019, there were approximately 13 million women-owned businesses in the United States.
- Women-owned businesses play a significant role in the U.S. economy, contributing trillions of dollars in revenue annually.
- The bill targets Women's Business Centers, of which there are around 145 across the United States.
- The accreditation and funding components of the bill are aimed at enhancing the support provided to these businesses, potentially affecting all women who currently or might in the future participate in these centers' programs.
Reasoning
- We have a budget limit for the policy implementation and must consider how it is distributed across the Women's Business Centers, impacting how many women it can serve directly.
- With 13 million women-owned businesses, not all will be directly affected due to budget constraints; hence, it's crucial to select a cross-section of individuals that represent those most likely to benefit immediately.
- We need to identify a diversity within the population who might be impacted, ranging from those who currently use these centers to those considering it, as well as those not impacted at all.
Simulated Interviews
Owner of a small tech startup (San Francisco, CA)
Age: 32 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 8/20
Statement of Opinion:
- I'm optimistic about this policy because increased funding means more resources and programs for entrepreneurs like me.
- I rely on workshops and networking opportunities provided by the Women's Business Center.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 9 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 10 | 6 |
| Year 20 | 9 | 6 |
Owner of a catering business (Dallas, TX)
Age: 45 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- I think this policy is a step in the right direction, but I'm not sure how much it applies to my industry.
- If benefits such as funding or mentoring become available to me, I'd consider using the Women's Business Centers.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 7 | 6 |
| Year 20 | 6 | 5 |
Freelance graphic designer (Miami, FL)
Age: 28 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 2.0 years
Commonness: 11/20
Statement of Opinion:
- I'm unsure how this policy affects freelancers who work alone.
- If there are courses on scaling a business, I might get interested in joining.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 6 | 5 |
| Year 20 | 5 | 4 |
Co-owner of a chain of boutique stores (Portland, OR)
Age: 50 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 8.0 years
Commonness: 6/20
Statement of Opinion:
- With more funding, I hope to see expanded programs, especially in digital marketing strategies.
- Courses on employing sustainable practices in business would be beneficial too.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 9 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 7 |
| Year 20 | 8 | 7 |
Retired business owner and mentor at a Women's Business Center (Boston, MA)
Age: 60 | Gender: female
Wellbeing Before Policy: 9
Duration of Impact: 10.0 years
Commonness: 4/20
Statement of Opinion:
- I'm thrilled about the potential for increased mentorship resources.
- Continued funding is vital for sustaining effective mentorship programs.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 9 |
| Year 2 | 9 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 10 | 8 |
| Year 10 | 10 | 7 |
| Year 20 | 9 | 7 |
Owner of a small bakery (Chicago, IL)
Age: 38 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 7.0 years
Commonness: 9/20
Statement of Opinion:
- Policies that offer financial education are greatly needed.
- I hope to see more resources for balancing business and family life.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 8 | 5 |
| Year 5 | 8 | 5 |
| Year 10 | 8 | 4 |
| Year 20 | 7 | 4 |
Owner of an online fashion retailer (Denver, CO)
Age: 27 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 4.0 years
Commonness: 7/20
Statement of Opinion:
- If the policy offers online courses or resources, I might engage with it.
- It's crucial that the policy adapts to modern business models, like e-commerce.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 7 |
| Year 5 | 7 | 6 |
| Year 10 | 7 | 6 |
| Year 20 | 6 | 5 |
CEO of a PR agency (New York, NY)
Age: 48 | Gender: female
Wellbeing Before Policy: 9
Duration of Impact: 15.0 years
Commonness: 5/20
Statement of Opinion:
- I see great potential for policy advocacy to back more women's businesses.
- Improving accreditation will elevate service standards.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 9 |
| Year 2 | 9 | 9 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 10 | 7 |
| Year 20 | 9 | 7 |
Part-time employee, aspiring entrepreneur (Atlanta, GA)
Age: 34 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 12/20
Statement of Opinion:
- This policy might provide the seed support I need to finally transition to full-time entrepreneurship.
- I'd love access to more material and workshops on starting a business.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 5 |
| Year 2 | 8 | 5 |
| Year 3 | 8 | 5 |
| Year 5 | 9 | 5 |
| Year 10 | 8 | 4 |
| Year 20 | 6 | 3 |
Owner of a small consulting firm (Seattle, WA)
Age: 55 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 8.0 years
Commonness: 3/20
Statement of Opinion:
- The policy could bolster my efforts in mentoring younger women by providing more comprehensive resources.
- I'm hopeful that the greater funding will mean more specialized training sessions.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 8 |
| Year 2 | 9 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 8 | 6 |
Cost Estimates
Year 1: $10000000 (Low: $8000000, High: $12000000)
Year 2: $16000000 (Low: $14000000, High: $18000000)
Year 3: $18000000 (Low: $15000000, High: $20000000)
Year 5: $20000000 (Low: $17000000, High: $23000000)
Year 10: $26000000 (Low: $23000000, High: $29000000)
Year 100: $30000000 (Low: $26000000, High: $34000000)
Key Considerations
- The bill aims to improve support for women-owned small businesses, a key demographic expanding rapidly and crucial to economic diversification.
- While women-owned businesses significantly impact the economy, they often face unique challenges that this legislation intends to mitigate.
- Accreditation could improve service quality and accountability at Women's Business Centers, leading to better outcomes for entrepreneurs.
- The operational enhancements and increased funding could initially strain the SBA's administrative resources.