• March Marks Women’s History Month, Women Businesses on the Rise
• Small Business Committee Democrats Release Report on Proposed Budget
• IRS Provides Resource to Micro-Business Owners
• Member Poll: A Taxing Time for Micro-Businesses

March Marks Women’s History Month, Women Businesses on the Rise

According to a report released by the U.S. Census Bureau, the number of businesses owned by women in this country is on a dramatic upswing. Between 1997 and 2002, the number of women-owned businesses grew by 20 percent, twice the national average. The 6.5 million women-owned businesses had a sweeping impact on the national economy, accounting for nearly 30 percent of non-farm businesses in 2002 and grossing $940 billion collectively. Even with these large numbers, women-owned businesses only accounted for 4 percent of total revenue. Furthermore, this survey offered a deeper understanding of the women-owned business sector: 72 percent of all social assistance businesses and the majority of nursing and residential care facilities were owned by women About 117,000 women-owned firms had receipts of over $1 million The states with the highest percentage growth of women-owned firms between 1997 and 2002 include Nevada (43 percent), Georgia (35 percent), Florida (29 percent), and New York (28 percent) The NASE implemented the Women Entrepreneurship Initiative several years ago as a response to the growth of women-owned businesses. The initiative includes sponsoring women-business conferences and trade shows across the country as well as offering benefits that appeal more to this group. Additionally, the NASE maintains http://women.NASE.org, a practical tool for women entrepreneurs. The Web site provides valuable business information and resources. It also operates as a forum for women to share their experiences with one another. “The NASE recognizes the contributions women entrepreneurs bring to the economy and our society,” said NASE President Robert Hughes. “We will continue to provide important information and useful business tools to this important sector.” For more information, visit http://women.NASE.org/. Small Business Committee Democrats Release Report on Proposed Budget Democrats on the House Small Business Committee were highly critical of President Bush in their review of his budget proposal, which they released in a report last week. They highlighted severe cuts to nearly 75 percent of federal small business programs in the president’s fiscal year 2007 request. This represents a 200 percent increase in cuts for small business initiatives over the last four years, according to the report. “This nation’s small businesses have been forced to bear the burden of the Bush administration’s budget cuts for the past four years now—but this year’s request is truly the worst yet,” said the committee’s ranking member, Nydia Velázquez (D-NY). “These cuts are hitting entrepreneurs across the nation—from rural to urban areas, from technology based firms to small family farms—no small business sector has been spared in this budget request. For an administration that has repeatedly touted its commitment to small businesses, they have been quick to turn around and pull vital funding right out of these critical entrepreneurial initiatives.” The Democrats’ report found that 40 percent of small business programs were cut by 80 percent, with some small business programs reviewed slated for termination. Additionally, agencies that often provide assistance to the small business community like the U.S. Department of Agriculture, the Small Business Administration (SBA), and the Department of Labor received cuts. The report claimed that some of the programs evaluated promote innovation, disaster relief and energy reform, subjects Bush focused on during his State of the Union address. While the Bush administration maintains that these drastic program cuts are necessary, the small business spending cuts account for only 1.5 percent for the total $432 billion U.S. budget deficit. SBA Administrator Hector Barreto defended the necessity for budget cuts and said that the SBA can work effectively within the president’s budget request. “These changes are necessary fiscal restraints that strike a balance between the needs of the SBA’s customers and clients with the needs of all American taxpayers,” said Barreto. “They will allow us to continue to operate more efficiently and effectively to meet the record demands of small businesses for financing, and of disaster victims for federal help over the long-term.” The NASE encourages the federal government to exercise caution in possible cuts to the Small Business Administration’s budget for federal small business programs. Last year, an NASE online member poll showed that 61 percent of respondents said programs offered by the federal government are valuable. “These programs have a proven track record and help those wanting to start or develop micro-businesses,” said executive director of the NASE legislative offices Kristie Darien. “I encourage the federal government to keep these programs in place and expand their outreach so that more micro-business owners can benefit from them.” The NASE focused on how all the president’s budget proposals would affect micro-business in the February 15th Washington Watch. For more information on the NASE’s legislative issues, visit the NASE Legislative Action Center at http://advocacy.NASE.org. IRS Provides Resource to Micro-Business Owners As tax time approaches, the IRS Small Business and Self-Employed One-Stop Resource provides highlights of 2006 tax law changes, standard mileage rates and other tax information to assist micro-business owners in filing their taxes. For more information, visit http://www.irs.gov/businesses/small/index.html. Member Poll: A Taxing Time for Micro-Businesses Taxes are a source of frustration for the self-employed. The NASE has long supported tax simplification and tax fairness for micro-businesses. Please take this short member survey regarding your opinions on federal tax reform. Let the NASE know your opinions by visiting the MyNASE Web site at http://my.NASE.org/. Log in to your free MyNASE Web Account. If you have not set up an account, you can do so at http://my.NASE.org/ with your member number. Let your voice be heard in the association by taking this survey during March.