[Congressional Record (Bound Edition), Volume 145 (1999), Part 18]
[Senate]
[Page 26104]
[From the U.S. Government Publishing Office, www.gpo.gov]




            IN RECOGNITION OF NATIONAL WOMEN'S BUSINESS WEEK

 Mrs. FEINSTEIN. Mr. President. I rise today in recognition of 
``National Women's Business Week'' and of the vital role women 
business-owners play in our economy.
  I would also like to recognize the appointment of Vivian L. Shimoyama 
to the National Women's Business Council. Ms. Shimoyama is the Founder 
and President of Breakthru Unlimited, a California company that designs 
and manufactures projects with a message: hand-made glass artwork of 
jewelry, executive gifts, limited editions, and custom awards. A 
brilliant sample of her work is her ``Breaking the Ceiling'' line of 
jewelry that has adorned the lapels of Hillary Clinton and Elizabeth 
Dole. Currently, she serves as the Chair of the National Association of 
Women Business Owners--Los Angeles. In 1999, she was honored as the 
Small Business Administration's ``Women Business Advocate of the 
Year''.
  Ms. Shimoyama runs one of the 1.2 million women-owned businesses 
headquartered in California. According to a study by the National 
Foundation for Women Business Owners (NFWBO), these businesses employ 
3.8 million workers and generate $548 billion in annual sales, a growth 
of 164 percent in seven years.
  Without a doubt, women entrepreneurs have played a crucial part in 
the growth of our economy. NFWBO reports that between 1987 and 1999, 
the number of women-owned firms increased by 103 percent nationwide, 
employment increased by 320 percent, and sales increased by 436 
percent. As of 1999, there are 9.1 million women-owned businesses in 
the U.S., which employ 27.5 million people and generate over $3.6 
trillion in sales. To put the sales of these businesses into context, 
they are twice the size of the Federal budget, and greater than the 
Gross National Product of every country in the world but the United 
States and Japan.
  An increasing number of these businesses have focused on emerging 
industries such as high technology. These businesses demand a greater 
access to capital and information resources than ever before.
  Mr. President, I will do all I can to ensure that the women in my 
state and all over the country have access to the opportunities and 
resources they need to start new business ventures. However it is also 
imperative that we invest in the business development resources that 
will help women sustain and grow these new businesses. This small 
investment yields big returns in the form of job creation, revenues, 
and overall growth of the nation's economy.

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