Blog / The Business Perspective
Commemorating National Women’s Equality Day
August 26, 2020
by Maria S. Salinas
COVID-19 continues to adversely affect businesses directly and indirectly in unprecedented ways, especially small businesses whose resources are already stretched thin. While several government resources are available, we see many small businesses challenged in accessing those funds due to the complexity of mandatory requirements.
While it might seem to be a difficult time to own a small business enterprise, entrepreneurs, and women entrepreneurs especially, are the engine driving this economy. In the face of uncertainty, business owners small and large, remain resilient and innovative. Re-inventing their business models, exploring new ways of doing business and building on opportunities created by emerging market trends as the country learns new ways to do business. We applaud those efforts and remain vigilant in providing support and leadership to the business community.
Today we celebrate National Women’s Equality, a day to commemorate the passage of the 19th Amendment. This year marks 100 years of women gaining the right to vote (though many women of color still couldn't cast their ballots, they worked tirelessly throughout the suffrage movement). Not surprisingly, a recent report on the Status of Women and Girls in California notes that over those years, while women have made advances in business, gaps continue to persist. The time is now. We need more women executives and CEOs, more women in the corporate boardroom - where critical business decisions are policies are made, and more support for women-owned businesses. Because when women thrive our communities thrive.
We must recognize that as a group, women get it done. In California, women own an estimated 1.58 million businesses, up 13 percent from 2014. They employ 1.1 million people and account for $236 billion in revenue, up 11 percent from 2014. Women of color represent 59 percent of those business owners. There is much to celebrate but there is even more work to do. At the Chamber, we are here to help. We see several women owned businesses benefiting from our technical assistance center, our Small Business Development Center (SBDC) and resources like one-on-one advising. Throughout this pandemic it has been encouraging to see businesses reinventing and adapting to changing environments, but now more than ever, when we think about economic recovery, we must ensure that women have a seat at the table and that any solution is just and equitable.
The Chamber has always championed public policy and programs that support our local and diverse small business sector including women-owned businesses. We will continue to focus on policies that remove barriers, bridge gaps and create opportunities for economic mobility.
I encourage you to reach out to our SBDC for technical assistance. The Los Angeles Area Chamber of Commerce will continue its commitment to advance opportunities and solutions for a thriving regional economy that is both inclusive and globally competitive.
Leave a Comment
Comments submitted are subject to review by the Los Angeles Area Chamber of Commerce prior to posting. The Chamber reserves the right to monitor and withhold comments that include personal, offensive, potentially libelous or copyright protected language, materials or links. Only comments relevant to the topic will be posted. Comments posted must have a valid email address. View our full terms & conditions.