Congressman Joe Sestak Holds District’s First Women’s Summit at Bryn Mawr College

Vice Chairman Sestak convened House Small Business Committee field hearing to highlight challenges facing women-owned small businesses

July 23, 2007

Media, PA - On Monday, Congressman Joe Sestak (D-PA) held the 7th District’s first Women’s Summit, in conjunction with an official House Committee on Small Business field hearing on challenges facing women small business owners. As part of the event, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) presided over an official House Small Business Committee field hearing and served as a special guest during the program.

“As a husband, father of a young daughter, the proud brother of six sisters, and having served alongside dedicated women in the military and combat, I know first-hand the role that women play in strengthening American society,” said Congressman Sestak, “but despite their significant contributions, women who work full-time, year round, on average, still only make 77 cents for every dollar made by their male counterparts, and women small business owners deserve the resources to fully maximize their potential.”

The profile of the typical American entrepreneur has changed dramatically over the last twenty years, with women business owners growing at twice the rate of all firms. Along with this rapid growth, however, women-owned firms face their own unique challenges.

“Right here in Pennsylvania, we have seen first hand the impressive growth of women-owned businesses,” said Vice Chair Sestak. “I am proud of the work we have been doing at the Small Business Committee to address the unique challenges facing women business owners.  Today’s summit and field hearing are a continuation of that important work, and an opportunity for us to hear directly from our local women entrepreneurs.”

Over the past six months, Congressman Sestak has worked and taken a leadership role with the House Small Business Committee to address the issues facing this nation’s women-owned businesses, and has already passed several bills to help achieve this. For women to be successful in their ventures, they need access to affordable capital, technical assistance and training.

“It has been a great pleasure for me to be in Congressman Sestak’s District in Pennsylvania today. As Vice Chair of the Committee, Joe Sestak has played an instrumental role in crafting and supporting legislation to enhance business resources and to expand economic opportunities available to small business owners, and in particular to women small business owners. Today’s event speaks to his commitment to the women small business owners of his District and region, ” said Chairwoman Nydia Velázquez.

Since the start of this Congress, the House has passed several measures to address these issues.  Legislation was passed that makes it easier for women business owners to access the affordable financing they need. Vice Chairman Sestak sponsored a bill that passed the House, which expands the reach of Small Business Development Centers (SBDCs) and enables them to provide entrepreneurs with assistance in coping with rising energy and healthcare costs, as well as regulatory burdens. Just last month, Sestak supported and the House passed another measure to continue support for Women’s Business Centers (WBCs) who serve women entrepreneurs, particularly in underserved areas.

“As Vice Chairman of the Small Business Committee, I am pleased with the progress we are making on helping women business owners not only start their firms, but also expand them,” said Rep. Sestak. “I’m also convinced we need to do more to support this growing crop of entrepreneurs. With the vital role they are playing in our local economies today, it is vital that we continue to work to remove as many barriers to their success as possible.”

One part of the discussion focused on federal procurement, and the need to ensure that women owned businesses are receiving their fair share of contracting dollars.  Women-owned businesses have lost $25 billion in contracting opportunities over the past 5 years because the women-owned goal has not been met.  To help address this issue, legislation, which Rep. Sestak co-sponsored, was passed this May, to offer protections against contract bundling and open up the federal marketplace to small businesses.  Members today discussed the need to continue to push the administration to implement the women’s procurement program, which was signed into law in 2001 and would ensure women entrepreneurs are given their fair share of federal contracts.   

“Procurement is one of the major vehicles for women business owners when it comes to expanding their ventures,” Vice Chair Sestak said.  “We will continue to work to make sure women have ample access to the federal marketplace.  Today’s discussion gave us a good overview of what is working, and what is not - and where Congress can help.”  

The Women’s Summit also featured two panel discussions on “Issues facing women in the workplace” and “Success strategies.”  The first panel of these panels discussed issues facing women in the workplace, such as the pay gap and employment discrimination, while the second panel highlighted “success strategies” of working women/business owners and provide an opportunity for attendees to discuss strategies in moving forward.

The event represents the latest in Congressman Sestak’s series of economic summits to bring constituents together to reverse troubling economic trends in the District, which has last over 607 businesses and one in five manufacturing establishments over the past three years.

In April, Sestak held his an economic development summit convene stakeholders in the District’s economy from the business community, academic institutions, and government to discuss strategies to improve economic growth and create jobs in the District. Vice Chairman Sestak held another economic summit in May, in partnership with the Philadelphia Export Assistance Center, to provide information about local, state, and federal government resources available to small business owners.