U.S. Labor Secretary Elaine L. Chao Speaks to Over Sixteen Hundred Pennsylvania Businesswomen

4/3/2003

From: Elissa Pruett of the U.S. Department of Labor, 202-693-4676

WASHINGTON, April 3 -- U.S. Secretary of Labor Elaine L. Chao today spoke to over 1600 businesswomen from around the Pennsylvania region at the Conference on Women's Entrepreneurship in the 21st Century, held at the Pennsylvania Convention Center in Philadelphia.

The time is right. According to the Small Business Administration, there are currently 9.1 million women-owned businesses in the United States. The Center for Women's Business Research has found that employment and revenue rates in these firms are growing at a faster rate than the national average. In Connecticut alone, women-owned firms comprise over 25 percent of the state's companies and generate over $9 billion in revenue.

Noting small businesswomen's status as drivers of our nation's economic growth, the Secretary stressed that the President's proposals demonstrate the President's commitment to meeting the needs of small businesswomen across the country. The President's economic package and Association Health Plan proposal are designed to increase business owners' access to capital, stimulate investment in their businesses, help them create jobs and expand their ability to provide health coverage to employees.

"You are leading a powerful revolution. Once the workplace opened up to American women in the beginning of the last century, things have never been the same," said Chao. "Women entrepreneurs are re-shaping the economic landscape, creating jobs and bringing about seismic changes in our nation's business culture."

The Department of Labor event, hosted with the Small Business Administration and key White House officials, replicated last year's national summit held in Washington. The events provide forums for women business owners to celebrate their successes, share ideas and bring attention to any obstacles that stand in the way of further growth.

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