National Women’s Small Business Month

A month-long celebration of female entrepreneurship in the United States.

Celebrating National Women’s Small Business Month.

National Women’s Small Business Month takes place each year in October. This is a time to recognize the myriad achievements of our country’s female entrepreneurs and the positive impact they are making on jobs and the economy.

Balboa Capital got involved in this month-long event with a nationwide contest for women business owners called ‘How She Did It’ that offered cash prizes for the winner and finalists. We held this contest two years in a row.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

national women’s small business month

Over 12 million strong.

Starting a small business was once considered an undertaking primarily for men, but times have changed. According to Fundera, there are currently over 12 million women-owned businesses in the United States. They generate over $1.8 trillion in annual sales revenue.

two female florists building a bouquet of orange flowers

A defining moment occurred in 1988.

The National Association of Women Business Owners® website has myriad facts and information about H.R. 5050, which is the Women’s Business Ownership Act. October 1988 marks the anniversary of President Ronald Reagan’s signing of H.R. 5050. This legislation increased federal support for women-owned businesses and made it easier for female entrepreneurs to get working capital and business training and assistance.

Before this bill was signed into law, some states required women to have a male family member co-sign on their business loan applications.

confident retail sales woman with two customers

Women are gaining in major industries.

As mentioned earlier, entrepreneurship is booming for women in the United States in various business sectors. For example, women are making a significant impact in the professional services, healthcare, social services, education services, and apparel and accessories industries. Today, millions of female entrepreneurs celebrate National Women’s Small Business Month each year.

Balboa Capital is not affiliated with nor endorses National Women’s Small Business Month, Fundera, or the National Association of Women Business Owners.

three female executives in a business meeting