Amata Chairs Hearing Titled ‘Fostering Women’s Entrepreneurial Success’

Washington, D.C. – Thursday, Chairman Aumua Amata presided over a Small Business Subcommittee on Health and Technology hearing titled "Fostering Women's Entrepreneurial Success."

"I was pleased to lead a hearing examining the growing impact of women entrepreneurs and what we can do to help this progress continue," said Aumua Amata. "October is National Women's Small Business Month, and it is a great reminder of how much we have to celebrate as women increasingly build successful businesses, but it's also a good time to consider ways to keep improving. One of my priorities is seeking ways to bring more of these resources to American Samoa, and other places that face challenges because distance or population size or other unique economic obstacles."

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Specifically, the hearing examined the state of entrepreneurship, the challenges and then highlighted the resources that are available to women-owned small businesses along with discussion of ways to expand those resources further.

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Members appreciated testimony from the following witnesses: Ms. Jeannette King, President & CEO, Strategic Resolution Experts, Inc., Martinsburg, WV; Janice Green, RN, BSN, MBA, President & CEO, Jancare Private Health Service, Inc. Fishkill, NY; Ms. Antonella Pianalto, President and CEO, Association of Women's Business Centers, Washington, DC; and Ms. Hester Clark, President, Hester Group, Jacksonville, FL.

Read the Small Business Committee Press Release here:

Below is the full text of Aumua Amata's Opening Remarks:

Talofa lava. I call today's Subcommittee on Health and Technology hearing to order. I would like to thank everyone for joining us today.

As October serves as National Women's Small Business Month, the Committee on Small Business Subcommittee on Health and Technology would like to highlight the outstanding impact women entrepreneurs have made on the United States economy and the remarkable growth women-owned small businesses have seen over the last decade.

It is estimated that in 2016, there were 11.3 million women-owned businesses who employ nearly 9 million people and generate over $1.6 trillion dollars. Between 2007 and 2016, women-owned businesses increased by a projected 45 percent. This growth rate means that women-owned businesses increased roughly five times faster than the national average. Despite this remarkable increase, we continue to see a significant difference in the number of women and men owned businesses in the United States. Currently, women-owned businesses only represent roughly 38 percent of all businesses throughout the country.

What factors are contributing to this gender gap? While women entrepreneurs face many challenges, one major issue women business owners consistently face is access to adequate financing opportunities. Men typically launch their businesses with twice the capital women do and less than 10 percent of all venture funds are granted to women-led businesses.

Numerous organizations, non-profits, and companies are tirelessly working to address the challenges female entrepreneurs face, such as access to capital, through advocacy, education, and outreach. The Small Business Administration's Women's Business Centers and the Service Corps of Retired Executives are excellent examples of these types of programs. Despite the wonderful work of these organizations, women entrepreneurs still face significant challenges when starting, growing, and scaling their businesses.

Today, we will hear from an outstanding panel of witnesses who will be able to shed light on the challenges women entrepreneurs face, the resources currently available, and the areas where existing resources could be expanded to the benefit of the women's business community. The personal experience of many of our panelists are stories of remarkable perseverance and strength that have resulted in immensely successful businesses. I look forward to hearing and learning from each of you.

I now yield to Ranking Member Lawson for his opening statement.

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