While female entrepreneurs continue to increase their contributions to the U.S. economy, a new report suggests that Congress can and should do more to help them start and scale new firms. 21st Century Barriers to Women’s Entrepreneurship, a report released last week by the Senate Committee on Small Business and Entrepreneurship, identified three primary challenges: fair access to capital, fair access to federal contracts and business training and counseling specific to female entrepreneurs.
The report points to a lack of timely data – with the 2007 Survey of Business Owners “the last substantial government-sponsored research and widespread data collection on women’s business” – that it suggests makes it difficult to analyze the situation and take definitive action that best serves female entrepreneurs.
Despite the paucity of data, the committee report says it can safely identify a number of critical action steps for Congress, including:
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