News Summary
Proposed federal budget cuts could jeopardize SCORE, a key nonprofit for women entrepreneurs in New York, endangering over 100,000 women-owned businesses. The New York Women in Business (NYWIB) heavily relies on SCORE for mentoring and resources. Leaders warn that funding cuts could stifle the growth of female entrepreneurship and impact the economic empowerment of women seeking to start or expand their businesses. With dire consequences looming, advocates are pushing for continued support for SCORE to preserve vital resources for women in business.
New York City – Proposed federal budget cuts could threaten the existence of SCORE, a nonprofit partner of the U.S. Small Business Administration, putting at risk over 100,000 women-owned businesses in New York. The New York Women in Business (NYWIB), founded in 2016, relies heavily on SCORE’s resources, volunteers, and infrastructure to effectively operate and support women entrepreneurs. If these budget cuts are enacted, NYWIB may not survive, leading to dire implications for women seeking to establish or grow their businesses.
Operating independently since its inception, NYWIB has been a beacon for aspiring female entrepreneurs, helping many turn their ideas into tangible income. The organization is known for offering expert mentoring, free workshops, and various resources crucial for managing and scaling small businesses. However, according to NYWIB leaders, the elimination of funding for SCORE jeopardizes all this progress and risks silencing the voices and dreams of numerous women across New York.
Mary Tan, a former SCORE mentor and the founder of NYWIB, has spent nearly a decade mentoring over 2,000 entrepreneurs through SCORE’s program. The proposed funding cuts are perceived as a direct blow to women’s economic potential and their efforts to establish financial security for themselves and their families. Should SCORE’s funding be withdrawn, NYWIB warns of a devastating ripple effect that would not only diminish the availability of mentorship but also limit workshops and overall success stories among female business owners.
SCORE has become a vital part of the entrepreneurial landscape, with over 10,000 volunteer mentors across the nation assisting more than 100,000 small business clients each year. These clients have been shown to be three times more likely to start a business and twice as likely to remain operational after two years compared to those who do not have access to SCORE’s resources. In New York, thousands of entrepreneurs benefit from SCORE’s programs annually, highlighting its importance to the region’s financial health and entrepreneurial ecosystem.
With the potential elimination of funding, NYWIB is calling on entrepreneurs, families, and community allies to act swiftly to demand continued support for SCORE and its programs. The urgency behind this message is clear: the funding cuts pose a significant threat to women’s entrepreneurship and economic empowerment in New York. NYWIB emphasizes that every woman’s dream of entrepreneurship is at stake, and it is vital to protect the supports that enable these dreams to come to fruition.
The New York State Senators have been urged to advocate for the continued funding of SCORE, recognizing the critical role it plays in the business community. NYWIB represents approximately 100,000 women entrepreneurs in the New York Tri-State area, underscoring the widespread impact that the proposed budget cuts could have if enacted.
Additional resources and information about NYWIB’s initiatives, including their programs and how to advocate for SCORE funding, are available through their website and their social media platforms, including Instagram, Facebook, and LinkedIn. The organization remains committed to serving women entrepreneurs and ensuring that the necessary resources to support their endeavors are not compromised.
The gravity of this situation highlights the importance of maintaining foundational supports for women’s entrepreneurship in New York, showcasing the dire need for action to preserve the framework that enables women’s businesses to thrive.
Deeper Dive: News & Info About This Topic
HERE Resources
Proposed Budget Cuts Threaten Women-Owned Businesses in NYC
NYC’s Small Business Month Expo Gathers Thousands
New York City Launches New Loan Programs for Small Businesses
New Partnership to Empower Local Entrepreneurs in Uniondale
Small Business Owners in NYC Express Economic Concerns
Women Small Business Owners Face Economic Challenges in NYC
New York City Sees Surge in Small Business Creation
Cannabis Means Business Conference Coming to NYC in 2025
Young Innovator from Tampa Showcases LingoTech in NYC
Meghan Markle and Prince Harry Attend Time100 Summit in NYC
Additional Resources
- Galveston County Daily News
- The New York Times
- U.S. Chamber of Commerce
- NerdWallet
- PR Newswire
- Wikipedia: Women-owned business
- Google Search: Women entrepreneurship
- Google Scholar: Women entrepreneurship
- Encyclopedia Britannica: Women in business
- Google News: Women entrepreneurship
