The bill underscores the rapid growth of women entrepreneurs, particularly women of color, who represent a significant portion of new business owners. By bringing attention to women's contributions to the economy, ACR 109 aims to inspire further support and resources for women in business, thus fostering an environment conducive to economic development and female entrepreneurship in California. The resolution also commemorates the Women's Business Ownership Act of 1988, which allowed women to secure loans without having a male co-signer, signifying a pivotal moment in women's economic autonomy.
Summary
Assembly Concurrent Resolution No. 109 (ACR 109), introduced by Reyes, designates October 2023 as Women's Small Business Month in California. This resolution encourages citizens to recognize the significance of women-owned businesses in contributing to the state's and nation's economy. With approximately 13 million women-owned businesses across the U.S. generating about $1.9 trillion in revenue, this initiative aims to highlight the essential roles these businesses play in job creation and economic stability.
Sentiment
The sentiment surrounding ACR 109 has been broadly positive, as it emphasizes support for women's economic empowerment and entrepreneurship. Legislators and advocates have voiced strong approval for initiatives that recognize and support women business owners, reflecting a dedication to enhancing equal opportunities for women in the business landscape. The acknowledgment of the unique challenges that women face in entrepreneurship further solidifies the resolution's positive reception.
Contention
Despite the strong approval, there are underlying challenges addressed within the resolution, such as the ongoing barriers to access funding and resources that women entrepreneurs, especially women of color, continue to face. While the resolution itself is symbolic and does not impose legal requirements, its advocacy serves to highlight these issues and calls for greater attention and action from stakeholders to dismantle these barriers. The recognition of Women’s Small Business Month serves as both a celebration and a reminder of the work that remains to create equal opportunities for all business owners.