The last 12 months have presented challenges for women small business owners as they navigate an uncertain economy, supply chain and inflation issues. Yet, despite these external pressures, they remain confident thanks to the power of their community. That’s why Bank of America is thrilled to be the presenting sponsor of the National Women’s Business Conference (WBC) for the 11th year.
In the last year, many small businesses have shifted or considered shifting their business to being fully digital due to inflation and rising costs. According to Bank of America’s latest Small Business Pulse Survey, 20% of business owners said rising interest rates make them less likely to have a physical location. Additionally, 56% said current costs from their current physical location impact their business operations, leading them to adjust their budget, put expansion plans on hold and even close their physical location. Looking ahead five years, nearly half of small business owners predict more businesses will be entirely digital.
Time and time again, women business owners consistently prove their resiliency regardless of economic outlooks and trends disrupting the marketplace. As more businesses opt for an online presence, remaining connected to their community and network of other entrepreneurs will be critical. Each year, the WBC provides a space for women to engage with one another to learn, grow and scale their small business.
Bank of America is proud to be the lead sponsor of the WBC, which continues to provide top resources for women to manage, sustain and grow their businesses. This year’s conference theme is “Power Your Dream,” as every entrepreneurial journey starts with a dream. Attendees will hear from keynote speaker, Dr. Martha Beck, a New York Times bestselling author who has spent her career helping thousands of people create their best lives.
Additionally, Sharon Miller and Mei Xu will engage in a fireside chat. Sharon is Bank of America’s President of Small Business Banking and Head of Specialty Banking & Lending who was recently named to Forbes’ 50 Over 50: Investment list, while Mei is a Chinese emigrant who innovated to become a multi-million-dollar business owner, then chose to start over.
The WBC will also offer breakout sessions that provide practical and inspirational tools to scale and grow businesses of all sizes. Sessions will cover various topics, including diversity and inclusion, social impact, mental wellness, the future of work and leadership.
“The resiliency, determination and innovation of women business owners is fueled by the support the women in this community offer one another,” says Jill Calabrese Bain, Managing Director at Bank of America. “Bank of America remains committed to small businesses and women entrepreneurs, and we are honored to be a part of a conference that celebrates the accomplishments and contributions of exemplary women.”