Today’s discussion with @realdonaldtrump, Vice President Pence, SBA Administrator Linda McMahon and 10 incredible women business owners was an important and meaningful way to celebrate the end of Women’s History Month, as we praise their successes, acknowledge their challenges and understand how the administration can best support women (and men!) in starting and growing their businesses. I look forward to continuing to work together on this critical topic #WomensEconomicEmpowerment
On March 27, the White House hosted a roundtable for women in small business where their achievements and barriers to success were discussed. In attendance was President Donald Trump, Vice President Mike Pence, First Daughter Ivanka Trump Kuschner, SBA Administrator Linda McMahon and more.
“We must ensure that our economy is a place where women can work and thrive. We will continue to address the barriers faced by women professionals and entrepreneurs, including access to capital, access to markets, and access to networks. We will make it very easy. It’s going to be a lot easier. You do an amazing job. And for a while it was a very, very tough — almost impossible — job,” Trump said. “My administration will also continue to advocate for policies that support working families, including making childcare more affordable and accessible.”
He noted his daughter’s upcoming visit to meet with one-one-one with Chancellor of Germany to discuss similiar issues for women. “I also want to recognize Ivanka for helping to lead a national initiative to promote women business leaders and entrepreneurs,” Trump added.
In light of their meeting, Frédérique Irwin, CEO of Her Corner, a peer group for women entrepreneurs, applauded the White House’s efforts and said concrete steps to knock down the barriers women face should include:
- Fully-fund local Small Business Administration offices and support the nearly 100 offices which offer free counseling, information, loan services, training and advice to minority, women and veteran individuals.
- Strict enforcement that 5% of all government contracts must be awarded to women-owned small businesses throughout the entire Trump administration and agencies.
- Access to capital continues to be a challenge so loosen regulatory reins to allow for freer flow of money to give these women the latitude to be creative, nimble and to grow.
“Women-owned small businesses employ 9 million U.S. workers and generate more than $1.6 trillion in annual revenues. Yet, more than 80% of these businesses generate less than $100,000 a year. Research shows that there are still significant barriers to entry for women owned small businesses and hindrances to their growth,” Irwin said. “I hope [last week’s] discussion, following on others the First Daughter has engaged in, leads to real action and change.”
For a complete transcipt of the President’s remarks, click here.