News Summary
Proposed federal budget cuts to SCORE could jeopardize the existence of around 100,000 women-owned small businesses in New York City. SCORE’s support is crucial for women entrepreneurs, offering mentoring and essential resources. NYWIB is urging community action to contact state senators and advocate for continued funding. Without SCORE, many women’s businesses may struggle to survive. The potential loss of this vital network would dismantle years of progress made in empowering women in the business sector.
New York City — Proposed federal budget cuts to SCORE, a nonprofit organization that partners with the U.S. Small Business Administration, threaten the very existence of approximately 100,000 women-owned small businesses in New York. The potential funding reduction could severely limit the resources and support available to these enterprises, risking their sustainability and growth.
The New York Women in Business (NYWIB) network heavily relies on SCORE’s mentoring capabilities, workshops, and infrastructure to operate effectively and help women entrepreneurs succeed. Founded in 2016 by marketing veteran Mary Tan, who also serves as a SCORE mentor, NYWIB has played a pivotal role in assisting women in transforming their ideas into successful businesses over the past decade.
Women entrepreneurs supported by NYWIB have the potential to impact the local economy significantly. Without the mentorship and resources provided by SCORE, many women may find it difficult to start or sustain their businesses. Nationally, SCORE is instrumental in fostering small businesses, with over 10,000 volunteer mentors helping more than 100,000 small business clients annually. It has been shown that SCORE clients are three times more likely to launch a business and twice as likely to maintain it for two years compared to those who do not receive such assistance.
The proposed defunding of SCORE would lead to a significant loss of essential services, including mentorship and best practices that are crucial for the growth of women-owned businesses in New York. Therefore, NYWIB is urging immediate action from the community. Entrepreneurs, families, and allies are being encouraged to contact New York State Senators to advocate for continued federal funding for SCORE. The organization’s mission hinges on the support it receives from SCORE, making this advocacy critical.
NYWIB represents around 100,000 women entrepreneurs within the New York Tri-State area and has established a strong collaborative relationship with SCORE to provide the necessary guidance and resources that women entrepreneurs need to thrive. As Mary Tan has mentored over 2,000 entrepreneurs through her affiliation with SCORE, her commitment underscores the vital role that mentorship plays in the entrepreneurial journey.
The impact of defunding could also silence the voices of many women who have become successful entrepreneurs with SCORE’s guidance, significantly limiting their economic potential. NYWIB has become an essential network for women to share experiences, gain insights, and access resources pivotal to their business success. Losing this network would dismantle the progress made over the years.
NYWIB’s mission of empowering women entrepreneurs is now under threat, and the organization is calling for public support. Interested parties can take steps to voice their concerns by visiting the official website of New York State Senate to find their senator and express their support for SCORE. This grassroots effort seeks to mobilize the community to sustain a network that has been crucial for women entrepreneurs in New York, ensuring they receive the nurturing and guidance necessary to flourish.
In summary, proposed federal budget cuts to SCORE endanger the support system for women-owned businesses in New York. Without continued federal funding, many women may face challenges that could jeopardize the future of their businesses. Immediate action is needed from the community to safeguard these vital resources and support networks.
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Additional Resources
- Galveston News
- New York Times
- NerdWallet
- U.S. Chamber of Commerce
- PR Newswire
- Wikipedia: Women in Business
- Google Search: Women owned businesses
- Google Scholar: Women entrepreneurs
- Encyclopedia Britannica: Female Entrepreneurs
- Google News: Women in Business
