Women's Business Ownership Act
NAWBO Celebrates the Passage of H.R. 5050
Honor the past. Envision the future. 20 years rising.
In 1988, NAWBO helped pass the Women's Business Ownership Act (or H.R. 5050), which had an enormous positive effect on women's entrepreneurship in the United States. Download a fact sheet on H.R. 5050 to share with your legislators and decision makers.
To recognize the 20th anniversary of H.R. 5050 in 2008, NAWBO is holding a yearlong celebration with special articles and sessions at its Public Policy Days and Women's Business Conference. Honor the hardworking women who helped instigate the sweeping changes that were made thanks to this landmark legislation and look toward the future when women business owners will have an even greater impact.
Key Changes Implemented by H.R. 5050
- Elimination of any existing state laws that required women to have a male relative co-sign a business loan
- U.S. Census Bureau required to count all women-owned firms
- Establishment of the Women's Business Center program, funding local resource centers across the country
- Creation of the National Women's Business Council, a body of women entrepreneurs and organizations that advises the President and Congress
Learn More About the History of U.S. Women's Entrepreneurship
- We're Not Done Yet: learn more about the lasting effects of H.R. 5050 in this March 2008 article from Kansas City Small Business Monthly
- Sisterhood is Powerful: read a 1988 Inc. Magazine article outlining NAWBO's support of H.R. 5050
- The Best Little Advocacy Group in America: view a 1994 Inc. Magazine article about NAWBO's advocacy efforts
- National Women's Business Council: read about this advisory body created by H.R. 5050
- Association of Women's Business Centers: locate a Women's Business Center near you
- National Women's History Museum: learn about the contributions of women to U.S. history
- National Women's History Project: find out about Women's History Month and more
- Women-21.gov: discover the future of women's entrepreneurship