Women Entrepreneurship, Trump Encouraged To Pass New Bills
By Nethani Palmani | Feb 24, 2017 01:41 PM EST
Presidents Lincoln and Kennedy were among the country leaders who ensured that all people have equal rights, access and economic opportunity for success. And now, President Trump has an immediate opportunity to facilitate the success of women and women entrepreneurs.
Studies indicate that only two percent of women entrepreneurs make it over a million dollars in revenue. It claims that the U.S. GDP could rise by $30 billion if only women participated equally as men in entrepreneurship in the United States.
To encourage women entrepreneurship, especially in the STEM fields, the Senate recently passed the Promoting Women in Entrepreneurship Act and INSPIRE Women Act. The two bills, introduced by Rep. Barbara Comstock and Rep. Elizabeth Esty were approved by the House earlier this year.
The Congress's official website states that the Promoting Women in Entrepreneurship Act "amends the Science and Engineering Equal Opportunities Act to authorize the National Science Foundation" with the motive to "encourage its entrepreneurial programs to recruit and support women to extend their focus beyond the laboratory and into the commercial world". Meanwhile, the INSPIRE Women Act "directs the National Aeronautics and Space Administration (NASA) to encourage women and girls to study science, technology, engineering, and mathematics (STEM), pursue careers in aerospace, and further advance the nation's space science and exploration efforts".
With the Senate and the House passing these two bills, more jobs and scale-driven companies would be created, providing women with the income needed to advance their lives and their families, says the Inc. In fact, those who perceive the purpose of women entrepreneurship are known to put 90 percent of their income back into their communities and families.
A recent Dell campaign revealed that women entrepreneurs need greater access to networks, capital, mentorship, technology and continued education, an expectation that the two bills sets out to accomplish. Having said that, President Trump is encouraged to sign these bills into law to help bring forth the social and economic opportunity among women entrepreneurs, imperative to the overall economy of the U.S.