Background and history: 2 • In the late 1970s, women faced structural credit barriers, including a legal requirement for a male co-signer to obtain a commercial loan • Regulatory changes in the early 1980s removed this requirement, but cultural practices lagged significantly behind • President Carter commissioned an interagency study into entrepreneurial opportunity for women; the subsequent Reagan administration established four pilot WBCs with a clear mission to help women obtain access to capital through training and capital readiness support • The AWBC was established 26 years ago to provide capacity building and training support across the network Current structure and funding: • Each WBC receives federal funding capped at $150,000 per centre, which must be matched equally, giving a total budget of approximately $300,000 • This is acknowledged as insufficient — barely enough to hire one and a half employees and maintain an office, let alone deliver programming • The AWBC has been advocating for increased federal funding through legislation Impact and return on investment (2024 data): • WBCs supported more than 340,000 jobs nationally • Generated over $16 billion in wages • Against a total federal investment of $27 million — not all of which was spent • For every taxpayer dollar invested: $6 in small business revenue and $7.50 in private capital is generated • Total economic activity of $15 for every $1 of public investment Future priorities: • Expanding geographic reach to fill gaps in rural and underserved communities • Establishing voluntary quality standards to ensure consistent programme delivery across the network Questions and Answers Q (Michelle Thomson MSP): The gains women have made feel more fragile than ever.