Business View Magazine Apr-2023

142 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 4 opportunity for those who go through the process,” Bennetts says. “We’re really excited about that.” NAWBO’s certification process includes thorough reviews and interviews conducted by women business owners who themselves are certified. “The people that are helping you step-by-step through that process are people who have been through it before and who also own their own business,” Bennetts says. “It offers a personal perspective and a better understanding.” The NAWBO Institute will also become more accessible to both members and non- members through the newly redesigned website, which will allow anyone to create an account and have access to all kinds of resources, education, and information. NAWBO’s mission was reinforced over the past few years when the pandemic revealed a stark impact on women business owners. Not only were many women faced with the increased burden of caregiving and housework, but it also revealed that there was a lack of access to capital for female entrepreneurs. “We’ve seen it before but it ballooned during the pandemic,” Bennetts said. “The numbers are frightening for women who don’t have an existing relationship with a commercial bank. So that makes it a big challenge.” When PPP loans were introduced, many of NAWBO’s members didn’t know how to approach the loans or even fill out the application because they didn’t have relationships with banks that were fulfilling those loans. While NAWBO caters to businesses of all sizes – their members run the gamut from solopreneurs all the way to large manufacturers – it was many of the small businesses that didn’t have their own CPAs and attorneys that really struggled. “They were back on relying on their personal credit cards, they’re laying off employees and scaling back in all ways, ” Bennetts recalls. “So we were holding free webinars two or three times per week, bringing experts in from banks and attorneys and CPAs, just to try to educate and support our members. “That was one of the times that I personally saw what we were capable of and why we were members of this organization and what we’re able to do for women business owners.”