Texas Border Business –
By Yolanda Garcia Olivarez
The face of entrepreneurship is changing in America. Women-owned small businesses are one of the fastest growing sectors of our economy and are helping us recover from the Great Recession.
Yet, there are still profound challenges women small business owners face – lack of access to capital and resources, lack of knowledge about business basics, and lack of financial education. Women entrepreneurs should not be discouraged or be deterred for these reasons. The U.S. Small Business Administration South Central Region stands alongside entrepreneurs, including women, to knock down these small business obstacles.
We know business success can be achieved with the right tools. Chotsie Adney, owner of Advanced Aesthetics in Little Rock, was the 2013 Arkansas Small Business Person of The Year. In 2010 Ms. Adney used an SBA guaranteed loan funded by Arkansas Capital Corporation to expand her working space and purchase additional equipment, furniture, and fixtures. After the loan, the company was able to double the number of employees, and revenues grew by 122%. With SBA’s assistance Ms. Adney empowered her entrepreneurial spirit and secured her small business success.
Denise Vigil, President of Vigil Enterprises, Inc. contacted the New Mexico District Office to inquire about the 2014 Emerging Leaders Initiative. By participating in the class, Ms. Vigil was able to develop a Strategic Growth Action Plan that has enabled her to grow her business and take it to the next level. With the Emerging Leaders Initiative she empowered her entrepreneurial spirit and secured her small business success.
As an advocate for women and champion for small businesses across the nation, we at the SBA recognize that women are under-represented in the federal contracting marketplace despite being essential job creators in communities across the country. We all know federal contracts provide critical opportunities for owners of small firms to boost their small businesses to the next level and create good-paying jobs. That’s why we rolled out the SBA Women-Owned Small Business Federal Contract Program (WOSBs) in 2011. This program authorizes contracting officers to set aside federal contracts for eligible women-owned small businesses or economically disadvantaged small businesses to ensure women earn a fair share of the federal marketplace. Continued support for women is essential as women-owned small businesses have grown by 20 percent in five years and a quarter of small businesses are now owned or led by women.
The SBA offers additional resources such as local Women’s Business Centers (WBCs) and SBA Lending Programs. WBCs are an effective resource that encourage and help women small business owners navigate to success through mentorship and training. Additionally, there are various SBA loan programs that can cater to your small business needs.
Overall, your gender, your race, your age, or your neighborhood should never impact you as a potential small business owner. Look to the SBA as your small business resource and partner. Check out: https://www.sba.gov/content/women-owned-businesses to jumpstart your potential woman-owned small business.
Yolanda is the U.S. Small Business Administration Regional Administrator since August 2009 when she became the appointee of President Barack Obama and former SBA Administrator Karen Mills. Mrs. Olivarez leads the delivery of SBA’s financial, entrepreneurial development, government contracting and international export initiatives that assist over 3.3 million small businesses in the South Central Region’s five states – Arkansas, Louisiana, New Mexico, Oklahoma and Texas. TBB
