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OPA News Release: [03/10/2004]
Contact Name: Peggy
Abrahamson
Phone Number: (202) 693-5052
President Bush and Labor Secretary Chao Address Women
Entrepreneurs at National Summit
CLEVELAND—President George W. Bush joined by U.S. Secretary
of Labor Elaine L. Chao today addressed more than 1,000 businesswomen at the
Women’s Entrepreneurship in the 21st Century Summit in
Cleveland, Ohio.
The event offered participants insights from entrepreneurs and
executives on the challenges that female business owners face, including access
to affordable healthcare and strategies for starting and growing a successful
business. This is the fifth Women’s Entrepreneurship in the
21st Century summit since 2002.
“President Bush and I want to help women entrepreneurs realize
their potential,” said Secretary Chao. “This summit provides a
wonderful opportunity for women entrepreneurs to network with one another,
attend interesting and informative workshops, gain important management tools
and business advice and to be encouraged by other women who have invaluable
life experiences. I have met with women entrepreneurs throughout the country in
the last three years; they are inspiring! And, they are creating jobs and
opportunity in their communities.” said Chao.
Women-owned businesses today play a crucial role in America’s
economy. Today majority women-owned companies employ 9.2 million workers and
generate $1.2 trillion in sales and account for 28 percent of all businesses in
the U.S. Nationally, women-owned businesses are growing at twice the rate of
all U.S. firms.
An estimated 1.2 million privately held firms are majority-owned by
women of color, and the number of minority women-owned businesses increased by
32 percent between 1997 and 2002—four times the rate of all U.S. firms.
Women-owned businesses continue diversifying into non-traditional industries,
with the fastest growth rates in construction, agricultural services and
transportation.
Despite their success, women business owners face challenges to growth,
long-term viability and financial health. The summit featured workshops to help
attendees network with their peers and gain from their experience. The sessions
offered covered a variety of issues, including one on how to access capital,
market your business to corporations, bid for federal contracts and address
work/life issues in the 21st century workplace.
The summit is sponsored by the U.S. Department of Labor, U.S. Small
Business Administration and the Center for Entrepreneurial Excellence. More
information about the event is available at the following website:
www.women-21.gov/cleveland.asp.
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