Women's Business Ownership Act
The Women's Business Ownership Act of 1988 was an act introduced by John LaFalce aimed at aiding the success of women business entrepreneurs. It provides a basis for policies, programs, and public/private sector initiatives supporting women's business endeavors. The bill was signed into law on October 25, 1988. For much of history, women were excluded from the business world, but at the time of the legislation women are becoming entrepreneurs at a fast rate. The market contains many inequities that influence the success women in business are able to achieve. Sexual stereotyping and past societal barriers result in women not having the same access to ownership or control. The Women's Business Ownership Act was drafted in response to the Small Business Committee's series of six hearings on problems facing women entrepreneurs and follows the recommendations outlined in the Committee report "New Economic Realities: The Rise of Women Entrepreneurs." within business opportunities for women. Congressional Findings The Congressional Committee identified four barriers to women owned businesses that they wished to address. "the need for technical training to maximize growth potential of women owned business" "inequality of access to commercial credit" "virtual exclusion of women owned business from government procurement activities" "inadequacy