• NASE Announces New Women's Advisory Council Members

• Small Businesses Benefit from Meals And Entertainment Tax Credit

• Women-owned Businesses: 10.6 Million Strong

NASE Announces New Women's Advisory Council Members

Responding to the growing number of women entrepreneurs in America, the National Association for the Self-Employed announces the members of its second Women’s Advisory Council. The group will provide ideas, feedback, brainstorming and analysis as the association replies to the unique needs of women micro-business owners.

“This year’s Council has big shoes to fill after the success of our first advisory group last year,” said NASE President Robert Hughes. “But the caliber of experience, education, and enthusiasm that this Council will bring to the association’s women entrepreneurship initiative leaves me confident that we have another successful year ahead of us.”

The inaugural Women’s Advisory Council helped implement the NASE women entrepreneurship initiative, with brainstorming for new member benefits, the evaluation of existing benefits and programs for members, and participation in the association’s advocacy efforts. The new Council will continue this work, focusing on the needs of women entrepreneurs across the country.

There are an estimated 10.6 million women-owned firms in America. According to NASE original research, start-ups of women-owned businesses have grown by double digits annually from 2000-2003, significantly outpacing growth in the 1990s and out-numbering men-owned start-ups by nearly a 2-to-1 ratio in 2003.

Women micro-business owners from all regions of the nation with a range of business enterprises comprise the new Women’s Advisory Council. The 11 – member Council will serve for a one-year term. For a complete list of Council members, view the press release.

Small Businesses Benefit from Meals And Entertainment Tax Credit

Here’s one tax deduction that benefits small businesses more than larger companies: the meals and entertainment tax credit. A new study by the Office of Advocacy of the U.S. Small Business Administration found that small, incorporated firms that take advantage of this deduction reduce their effective tax rate by 0.75 percent on average, while larger firms only receive a 0.11 percent reduction in their effective tax rate.

“This study confirms what we have believed all along,” said Thomas M. Sullivan, Chief Counsel for Advocacy. “Small firms use the meals and entertainment deduction as their primary marketing tool. They don’t have the budget for big ad campaigns, but they can talk with their potential clients over lunch. The study reinforces how important that deduction is for smaller incorporated firms,” he said.

“The Impact of Tax Expenditure Policies on Incorporated Small Business” analyzes how “tax expenditure” programs affect effective tax rates. For the complete study, visit www.sba.gov/advo/research/rs237tot.pdf.

 

Women-owned Businesses: 10.6 Million Strong

The strength and growth of women-owned businesses in America continues to be documented, with the latest statistics estimating that 10.6 million privately-held firms in the U.S. are 50 percent or more women-owned, accounting for nearly half (48 percent) of all privately-held firms.

The Center for Women’s Business Research, in its biennial update on women-owned businesses, found that these firms generate $2.46 trillion in sales and employ 19.1 million people nationwide.

The report found that women-owned firms are not only growing in number, but also in size. Between 1997 and 2004, estimated employment in these firms grew at twice the rate (24 percent vs. 12 percent) of all privately-held firms and estimated revenues increased at 39 percent compared to 34 percent for all privately-held firms.

2004 Facts on Women-Owned Businesses: Trends in the U.S. and 50 States documents the increasingly vital contribution of women-owned firms to the economy by delineating the growth in number, revenues and employment as well as providing, for the first time, estimates of these firm’s business-related expenditures.

For example, health benefits comprise the largest share of benefit expenditures, with 2004 spending estimated at $38 billion. Estimated spending on retirement benefits ($14 billion), life insurance ($1 billion), and disability insurance ($1 billion) comprises $16 billion, for a total of $54 billion in benefit expenditures. Payroll expenditures are estimated at $492 billion per year.

For more information, visit www.womensbusinessresearch.org.