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.
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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.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
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