Creation of the WBC Program

The Women’s Business Ownership Act of 1988 (Public Law 100-533) was a landmark piece of legislation (H.R. 5050) in the United States aimed at addressing systemic barriers faced by women entrepreneurs and promoting women’s participation in business ownership. The Act marked a significant step in fostering gender equity in business and included several key provisions that continue to shape the landscape for women-owned businesses today.

Key Features of the Women’s Business Ownership Act

  1. Elimination of Discriminatory Lending Practices:
    • Prior to the Act, women often needed a male co-signer (husband, father, or other male relative) to secure business loans. The Act prohibited this requirement, ensuring women could access credit independently.
  2. Establishment of the National Women’s Business Council (NWBC):
    • This bipartisan advisory body was created to provide recommendations to the President, Congress, and the Small Business Administration (SBA) on issues affecting women entrepreneurs.
  3. Creation of the Women’s Business Center (WBC) Program:
    • The Act authorized funding for the development of Women’s Business Centers (WBCs), which provide training, counseling, and resources to women entrepreneurs. These centers focus on supporting economically and socially disadvantaged women to start and grow businesses.
  4. Data Collection and Research:
    • The Act mandated that the Census Bureau and other federal agencies collect and report more detailed data on women-owned businesses to better understand their impact and challenges.
  5. Support for Women-Owned Businesses:
    • It emphasized increasing federal contracting opportunities for women-owned small businesses.

Creation of the Women’s Business Center Program

The Women’s Business Center (WBC) Program was established as a direct outcome of the Women’s Business Ownership Act. Administered by the Small Business Administration (SBA), this program was designed to provide a network of support specifically tailored to the needs of women entrepreneurs.

Key Characteristics of WBCs:

  1. Training and Technical Assistance:
    • WBCs offer workshops, one-on-one counseling, and training in areas such as business planning, financial management, marketing, and accessing capital.
  2. Target Audience:
    • The program primarily focuses on helping socially and economically disadvantaged women, including those in rural or underserved areas.
  3. Support for Diverse Needs:
    • Many WBCs provide services in multiple languages and address the unique challenges faced by minority women, veterans, and women with disabilities.
  4. Economic Empowerment:
    • WBCs aim to increase the number of successful women entrepreneurs and their contribution to economic growth.

Since its inception, the Women’s Business Center Program has grown into a nationwide network of centers, supporting thousands of women in achieving their entrepreneurial goals.

Legacy and Impact

The Women’s Business Ownership Act and the creation of WBCs have had a profound impact on the entrepreneurial landscape:

  • Dramatically increased the number of women-owned businesses in the U.S.
  • Highlighted the need for ongoing support structures for women in business.
  • Fostered economic independence and job creation through entrepreneurship.

This legislation and its programs continue to serve as a cornerstone for advancing women in business.

Back to Wiki