Three Ways the Trump Administration Has Helped Women, Women Business Owners

As we come to the close of Women's History Month, we can celebrate that there's no better time to be a woman and a female entrepreneur than today.

Women comprise nearly half of the workforce and have more choice over their careers and educational opportunities than before. Working moms with underaged children have gained a significant foothold in the workforce as they represent over third (34 percent) of all working women.

Women, particularly women of color, are the fastest growing small businesses owners in the U.S. The impact of women-owned businesses is tremendous; they generate economic activity, incometax revenueand jobs.

According to the National Association of Women Business Ownerswomen own more than 11.6 million firmsgenerate $1.7 trillion in sales, and employ nearly 9 million people as of 2017. 

Women entrepreneurs don't always have access to traditional funding sources like private investment and business loans so they tend to self-fund their businesses meaning that they will dig into their own pockets. That's all the more reason to ensure that women can keep more of what they earn on their primary jobs and from the revenue they generate through their businesses.

Leaders in Washington recognize that pro-growth policies stimulate small businesses and that's a big deal for women. Ivanka Trump explained that at a recent summit for Millennials at the White House: [Watch here]

Here are three benefits women and women businesses owners are enjoying thanks to Trump administration policies:

  1. Paid leave – Companies are taking their tax reform savings and reinvesting in their workforce. Chipotle, CVS, Walmart, Lowes, Starbucks are examples of companies which added or expanded their paid leave benefits because of the Tax Cuts and Jobs Act.

  2. Bigger paychecks – Nine out of ten workers should see bigger paychecks thanks to tax cuts and reforms on the individual side of the tax code. While Democratic leaders like Rep. Nancy Pelosi called them "crumbs," women have taken to Twitter under #notcrumbs to explain what the extra cash in their paychecks means for them.

  3. Less red tape and more capital - Deregulation has been a key component of the Trump agenda aimed at releasing stress on American small businesses and unleashing them to grow. Linda McMahon, head of the Small Business Administration, explains that the recent scale-back obanking regulations (from Dodd-Frank) now allows community banks to more easily lend to small businesses.

There are many other ways that women are winning including from historically low unemployment rates and job growth.

However, there is always more work to do.

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