Did you know that until 1988, women business owners often needed a male cosigner to secure loans at traditional banks? It seems astounding that such a prevalent practice existed only a few decades ago. But thanks to the Women’s Business Ownership Act (HR 5050), advocated by the National Association of Women Business Owners (NAWBO), women can now access the capital they need to grow their businesses independently.
The National Association of Women Business Owners: A Legacy of Advocacy
Based in Washington, D.C., NAWBO was founded in 1975 by a diverse group of women entrepreneurs who faced exclusion from many professional organizations dominated by men at that time. Susan Hager, one of the founding members, famously said, “Get a seat at the table or build your own table, and make sure to include other women.” This ethos of empowerment rings as true today as it did in the organization’s early years, guiding NAWBO’s advocacy efforts for women business owners.
NAWBO’s mission is broad, representing women entrepreneurs across various geographies, industries, and political affiliations. The organization actively encourages bipartisan legislation aimed at fostering a robust business economy. Women business owners contribute significantly to the U.S. economy, generating an impressive $3.3 trillion in 2024 alone. Research from the 2025 Impact of Women-Owned Businesses Report by Wells Fargo suggests that bridging the revenue gap between men and women-owned businesses could unleash an additional $10.2 trillion in economic activity.
Local Empowerment: The Nashville Chapter
The NAWBO Nashville chapter was established in 1993 and has since become a vital community hub for women entrepreneurs. Here, members share resources, collaborate on projects, and support one another’s business growth. Recognizing that entrepreneurship can often feel isolating, the chapter fosters a sense of belonging and solidarity among women in business. By tapping into both local and national networks, members can amplify their impact, create more jobs, and enrich the local economy.
This year, NAWBO will host its annual Women’s Business Conference from June 5-8, 2025, in Washington, D.C. The event promises to be an exhilarating gathering of thousands of women business owners, offering opportunities to network, attend educational sessions, and celebrate the organization’s 50th anniversary.
The Importance of Legislative Support
The upcoming national conference will feature an Advocacy Day, allowing members to engage directly with U.S. representatives and senators to discuss the pressing issues affecting women business owners. Key topics for advocacy include:
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Access to Technology: Congress must prioritize making digital tools available on a federal level, ensuring that women business owners can expand their market share and operational capabilities.
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Women-Owned Small Business Program: Continued support for the Women-Owned Small Business (WOSB) program is essential, helping women enter federal procurement systems and scale their businesses effectively.
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Support for Independent Contractors: NAWBO advocates for measures that enable small businesses to thrive while utilizing independent contractors, which can be crucial for flexibility and growth.
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Employee Benefits: There is a pressing need for legislation that allows small businesses to offer employee benefits, facilitating better access to existing federal and state benefit portals.
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Paid Leave Systems: NAWBO urges the creation of bipartisan solutions that allow small businesses to implement financially sustainable paid leave programs.
- Definition of Microbusinesses: Codifying a clear definition of microbusinesses can help ensure that policies suitably address the needs of these smaller enterprises.
Women entrepreneurs need community, support, and a unified voice in Congress to continue their growth trajectory. It’s an invitation to join in the efforts, both locally in Nashville and nationally in Washington, D.C., as NAWBO celebrates 50 years of collective progress.
Spotlight on Leaders
Danielle McGee Gibson, the Advocacy Chair for NAWBO Nashville and CEO of Black Business Boom, highlights the importance of such initiatives. She embodies the spirit of advocacy and empowerment that defines NAWBO’s mission. Her involvement underscores the critical role that women leaders play in shaping the future of business ownership.
This information underscores the strides women have made in the business realm and the importance of ongoing advocacy and support for continued progress. In a rapidly evolving economic landscape, the empowerment of women business owners remains a crucial component for achieving a more equitable society.
