My Profile   |   Contact Us   |   Sign In   |   Register
News & Press: WIPP Policy Watch & Newsletters

WIPP In Action - May 2020

Wednesday, May 6, 2020   (0 Comments)
Posted by: Laura Berry
Share |

WIPP In Action - May 2020 undefined
Women Impacting Public Policy

Robust Grant Programs Needed In Next Wave of Relief

Candace Waterman

Candace Waterman WIPP President & CEO

I do not need to tell you that this pandemic has taken an enormous toll on women-owned businesses. Our recent impact survey showed more than 71% of the respondents reported a decrease in business.

 

Approximately 73% of our survey participants had applied for federal funding, the majority listing either the Paycheck Protection Program (PPP) or Economic Injury Disaster Loan (EIDL) programs. On a more positive note, 89% of respondents have been able to continue operations during this pandemic as of April 15.

 

Another survey-based study, "," found that “women-owned businesses asked for and received less money than national averages” in the first round of PPP funding. In addition, “women relied heavily on large national banks and, when they did, their likelihood of obtaining a PPP loan plummeted.” We are watching the and will keep you updated.

 

In the coming weeks, more relief is expected. Given the urgency of capital, we are asking Congress to consider revamping the programs to separate them into loans and grants rather than a combination of the two. While small businesses will need loans with generous terms in the recovery stage of this pandemic, they need grants now.

 

Joining your voice with WIPP is necessary to make an impact on Capitol Hill. Contact your Representative and Senators today and share our letter urging small business grants rather than forgivable loans. If you have questions, please contact the WIPP ACE HelpDesk at .

What's Next?

Ann Sullivan

Ann Sullivan WIPP Chief Advocate

My best guess is that the next Congressional bill will be a hybrid of relief and recovery. Much is left to do on the relief side and refinement of the programs put in place by previous legislation.

 

When programs are drafted in a hurry, unexpected issues arise that need to be addressed. Evidence is the number of guidance documents issued by the , the , and the surrounding small business loan programs. For federal contractors, implementation of has generated extensive documentation. The next bill will most certainly contain changes to existing programs.

 

Is Congress going to deliver additional relief by providing additional funding for the PPP or EIDL programs? Senate Majority Leader Mitch McConnell (R-KY) suggested that Congress slow down future relief, saying "until we can begin to open up the economy, we can’t spend enough money to solve the problem." Relief to state and localities has yet to materialize but is widely considered to be a major part of any future bill.

 

Opportunities In the Face of Challenge

Elizabeth Sullivan

Elizabeth Sullivan WIPP Advocacy Team

While many segments of the economy are experiencing unprecedented loss, one sector of the economy, the federal government, is rapidly increasing its spending to combat the COVID-19 virus. Reported spending obligations for COVID-19 as of May 4 are about $8.5 billion and are expected to increase in the coming weeks.

 

Dollars are also being awarded to women-owned small businesses (WOSBs). Across all agencies, since March, over $490 million has been awarded to WOSBs to assist with COVID-19 relief.

 

Just for some context: This number has exceeded the total dollars awarded for WOSBs in FY2018, which was $473.1 million. So, in a matter of months, the dollars awarded have exceeded an entire fiscal year’s previous spend. This increase has been across small business programs – service-disabled veteran-owned small businesses (SDVOSBs) have been awarded $493 million and HUBZone companies $90 million.

Monday, May 11

COVID-19 Webinars

Crisis can have a way of illustrating gaps in a business' capabilities. Many women-owned businesses have not had the time or opportunity to work on business continuity plans; however, all businesses may soon have to share their continuity plans as a prerequisite to doing business in the commercial and federal marketplace.

 

Monday, May 11

2 PM ET / 1 PM CT / 11 AM PT

 

Join our panel of experts for this special topic:

  • Rose Hatcher, ViacomCBS
  • Lisa Firestone, Managed Care Advisors

Every Monday during this challenging time, WIPP is hosting free webinars on . Hear up-to-the-minute business policy and funding information from Capitol Hill. Each week's webinar will feature the WIPP Advocacy Team, the U.S. Small Business Administration, and a special topic of interest.

Wednesday, May 13

May Policy Update

Listen to live commentary and conversation from the WIPP Advocacy Team as they discuss the latest legislation, regulatory action, and news that will affect your business and other women-owned businesses.

 

Wednesday, May 13

2 PM ET / 1 PM CT / 11 AM PT

 

This webinar offers insight into the current COVID-19 environment within the framework of our ongoing WIPP Policy Priorities. Women business owners and their allies will learn how to effectively prepare, advocate, and take action on issues that affect their business.

Wednesday, May 20

WIPP May Community Connection

The monthly WIPP Community Connection webinar is our time to make business connections, celebrate success, and welcome in-depth conversations on what entrepreneurs face in the real world.

 

Wednesday, May 20

2 PM ET / 1 PM CT / 11 AM PT

 

This month’s meeting features:

  • Meet the Agency Partner: Jean Lin Pao, Director, OSDVU, U.S. Department of Housing and Urban Development
  • Meet the May Member Spotlight: Nancy Aber Goshow, Senior Managing Partner, Goshow Architects, NYC, NY

Member Spotlight

Goshow Architects

This month's Member Spotlight features , Partner at Goshow Architects.

 

Each month, WIPP highlights a member who has leveraged WIPP membership to grow their business, engage with elected officials, and/or elevate the mission of WIPP and the visibility of women-owned businesses.

Thursday, May 28

Changing the ownership or retirement of key personnel in your business creates crucial issues that need to be addressed before enacting a change. Whether transferring ownership to family members or selling to a third party, this webinar will share how your business can continue to meet the demands without you.

Tuesday, June 30

Compliance may be considered an afterthought or a necessary evil; however, marketing a “culture of compliance” can be an effective key message to contracting officers and buyers. Effective compliance begins before the win, and small size status is not an obstacle to building a culture of compliance.

Put Your Mask On First

May is Mental Health Awareness Month, and our latest Conversations with Candace video features the recorded expert panel discussion with Dr. Karen Wolfe and Brenda Loube giving tips and expertise on emotional and physical wellness.

ChallengeHER Webinar Catalog

ChallengeHER Webinar Series

ChallengeHER offers a digital catalog of free on-demand webinars. These webinars provide fundamentals of federal contracting anytime, anywhere. Use these webinars to build a solid foundation for entering contracts and maintaining business.

1120 Connecticut Ave NW Suite 1000

Washington, D.C. 20036

1-888-488-9477

 

WIPP thanks our Corporate Partners:

 

Accenture | American Express | Comcast | EY | Intuit | L3 Technologies | Live Oak Bank | Lockheed Martin | Northrop Grumman | Pfizer | PhRMA | Southern California Edison | Southwest Airlines | Verizon | Walmart

 

WIPP is a national nonpartisan organization advocating on behalf of women entrepreneurs—strengthening their impact on our nation’s public policy, creating economic opportunities, and forging alliances with other business organizations. .

facebook
twitter
linkedin

more Calendar

7/8/2020
WIPP Policy Update - July 2020

7/13/2020
WIPP Intersectionality: The Power of Regional Resources and Connections

7/22/2020
WIPP Community Connections - July 2020

7/27/2020
WIPP Intersectionality: The Power of National Partnership and Collaboration

Featured Members
Michelle KantorMember, McDonald Hopkins, Chicago, IL — April 2020 Member Spotlight

Privacy Policy / Disclaimer    |    © WIPP  |    888-488-WIPP

Association Management Software Powered by YourMembership  ::  Legal