U.S. Chamber’s CEO offers advice to women entrepreneurs

Advice from U.S. Chamber President

U.S. Chamber of Commerce president and CEO Suzanne P. Clark offered statistics about and encouragement for female entrepreneurs at the D.C. Chamber of Commerce’s annual Women in Business Luncheon at Clyde’s in Northwest on May 21. 

“The entrepreneurial spirit is alive and well in the United States,” said Clark, in a “Fireside Chat” with D.C. Chamber President Angela Franco. “We have 5.5 million new business applications.”

Clark said she quoted the statistic to the premier of China in March, who immediately took note of the number.

The U.S. Chamber of Commerce is the world’s largest business organization, representing employers of every size and sector in the country and around the world. Its headquarters is in the District and the lobbying arm on Capitol Hill is considered one of the most effective of its type.

Clark praised the 60 people, including District government officials, present for their desire to be business owners, saying “I don’t [think there’s] anything more valuable than being an entrepreneur.”

Clark said that she seeks to build bridges with government leaders while she leads the U.S. Chamber and said the government needs to be more effective in what it does.

She said it is important for women entrepreneurs to learn to partner and collaborate with others.

“Don’t do it alone,” Clark said. “Don’t be afraid to ask for help.”

Clark said women entrepreneurs should not hesitate to talk about their business ventures when they get the opportunity.

“When women get together with others, they talk about their families while men talk about sports,” she said. “Women need to talk more about their businesses.”

Clark said she would like to see more small businesses lobby government leaders for what they want. She said while it is understood that large companies have the resources to lobby governmental bodies, small businesses “should lobby more and actively engage in public policy.”

“Our world, our country, our city needs your gifts,” she said. “Keep it up. The world needs more of it.”

Franco was pleased the event offered networking opportunities and encouragement..

“We are excited to cultivate a place for women business leaders to connect with each other in the greater D.C. area,” Franco said. “Our goal with this luncheon is to create a forum to support and amplify the voices of women business owners in the District and to ensure that we, as a chamber, are advocating for their needs.”

Alsobrooks at State of Economy Event

Prince George’s County Executive Angela Alsobrooks will serve as the speaker for the 2024 State of the Economy Address & Breakfast presented by the Prince George’s County Economic Development Corporation in partnership with the Greater Prince George’s Business Roundtable.

The event will take place at MGM National Harbor in Oxon Hill, Maryland on June 13 starting at 7:30 a.m.

Hear Alsobrooks’ economic outlook for the county including plans for new development, engaging the county’s workforce and more over breakfast. Business owners, entrepreneurs and stakeholders in the county’s business sector should be enriched by the event.

Attendees will be able to network with the stakeholders, deal makers, and the business community from the state and local levels.

Maryland Disparity Study

The State of Maryland is conducting a comprehensive utilization and availability study (the Disparity Study), led by MGT Consulting Group.

The overall purpose of the Disparity Study is to determine whether there is racial and/or gender business discrimination in the markets in which the state does business—both public and private sectors. As part of that process, the state will collect data regarding the availability of firms owned by minorities and women, and the utilization of these firms as contractors and subcontractors in the Maryland marketplace.

In addition to analyses of quantitative data, the Disparity Study will also examine qualitative data about business discrimination (to the extent it exists) provided by business owners, trade associations, business organizations and other stakeholders.

All business owners are encouraged to participate.

For more information, visit stateofmddisparitystudy.com.

Protecting Seniors from Financial Fraud

U.S. Sens. Chris Van Hollen (D-Maryland) and Raphael Warnock (D-Georgia) reintroduced legislation to help better protect seniors from financial securities fraud.

The legislation, “Empowering States to Protect Seniors from Bad Actors Act,’ creates a new grant program, implemented by the Securities and Exchange Commission, which would work closely with state securities regulators and insurance commissioners to protect senior investors.

According to a 2023 report, older Americans lose approximately $28 billion each year to financial exploitation. Companion legislation has been offered in the U.S. House of Representatives.

“As scammers continue to find ways to deceive and defraud Americans, we need to take action to safeguard seniors’ financial security,” said Van Hollen. “Our bipartisan legislation will help ensure those who target older Americans are held accountable while promoting vigilance against scammers’ evolving tactics.”

Warnock said: “All Americans deserve to be protected from fraudulent schemes, especially our seniors who have worked their entire lives to build a nest egg and create generational wealth to pass on to their loved ones.”

“The Empowering States to Protect Seniors from Bad Actors is a commonsense bill that protects our nation’s seniors from financial scams and abuse to help provide peace of mind in their golden years.”