Women-owned businesses grew 21 percent in five years and firms owned by women of color grew by double that rate in the same period, but National Women's Business Council member Shelonda Stokes said those numbers are just the beginning of the story.
Though the number of women-owned businesses and the share of those businesses operated by women of color is on a "positive trajectory," numbers alone don't solve problems, said Stokes. These leaders need to have the means to succeed once they get their businesses going.
"We need to make sure once we get there we have access to capital, we have mentors, we have resources and all of those things available to help us take it to that next level," she told Cheddar.
In order to make progress toward equality in the workplace, Stokes said there needs to be a combination of changes. "Some things absolutely require regulation, some things we can control. Some things, as you've seen in the past, take business and culture change to happen within," she said.
Stokes and NWBC are focused on helping move regulation forward. NWBC gives advice and counsel to the president, Congress, and the U.S. Small Business Administration, a government agency focusing on supporting entrepreneurs and small businesses.
Stokes, herself president and CEO of content company greiBO, as well as a member of the council, said before publishing this year's annual report last week that members traveled the nation "looking at issues that affect women," and she has been focusing specifically on African American women in STEM industries.
"While you see the playing field is getting a lot more level, we've got a long way to go," she added.
Stokes said the president's administration takes the council's advice and uses its annual report as a guide because members have done their homework by going to see how businesses are doing around the country. "They're listening," she said.
Ford is recalling more than 355,000 of its pickup trucks across the U.S. because of an instrument panel display failure that’s resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.
Nvidia reported a 56% increase in second-quarter revenue and a 59% rise in net income compared to a year ago.
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Netflix CEO Ted Sarandos claims audiences don't want to watch Netflix movies in theaters, but that seems not to be the case recently.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
