9/14/2012 WCOE testifies at House Small Business Committee hearing


WCOE testifies at House Small Business Committee hearing

 

Theresa Kern, WCOE’s Immediate Past President and President of MA Steel Erectors in Chicago-land, made a stellar presentation to a Congressional panel yesterday doing a terrific job of representing WCOE members as well as all of America’s small business owners. The hearing was called and chaired by Congressman Joe Walsh (R-IL) on the issue of taxation for small businesses that are incorporated as an LLC or Subchapter S corporation, called “pass-through entities”. All small business owners understand the issue, but few on Capitol Hill have a grasp on how profits in a small business do not translate into cash in the personal pockets of the entrepreneur.

Put another way, just because a small business shows a P&L statement with $200K profit, does not mean that the business owner has access to that money – or that the business even actually has that profit in cash. Profits and cash are rarely synonymous – something that those legislators who have never owned a business seem unable to comprehend. You can read Theresa's full testimony on our website, or you can read all four of the witnesses testimonies. You can also watch the video of the full hearing.

Theresa Kern testifies at House Small Business Committee Hearing

While you're at it – send Theresa a quick thank you email, rebars@aol.com. She really did a great job in front of those 7 men and 2 women. In fact at the end of Theresa's testimony, watch the video and you'll see Chairman Joe Walsh (R-IL) give Theresa a big thumbs up sign.

There was no doubt by any of the 52 audience members that Theresa was the star of the show. The only woman to testify at this hearing was a credit not only to WCOE but to all women business owners.

 

What a difference an “e” makes!

To everyone who contacted WCOE to report our glaring error last week – thank you. Yes indeed, Hensel Phelps is all about the “e” and not about the “a”. So, Hensel Phelps (NOT Hansel Phelps!) is trying to find you even though you might have had trouble finding them last week after our spelling error. This concerns the SSA National Support Center project in Urbana, MD and they are looking for virtually every woman trade subcontractor they can find. The informational meeting is set for September 28th from 9:00 am to 12:00 noon at 2700 Turf Valley Road in beautiful Ellicott City, MD. You must pre-register to attend by emailing henselphelps@ureach.com no later than next Friday, September 21st.

One more thing to remember: WCOE Council of 200 member Karen Barbour has an exclusive contract with Hensel Phelps and have in place a committed surety contract for their projects that is available to WCOE members. Contact Karen for more information at Karen@thebarbourgroup.com.

One more reminder about Cincinnati too

Don’t forget to register to attend the joint WCOE/ABC Ohio Valley “Meet & Greet” event next Thursday, September 20th. National Executive Director Penny Pompei will be on hand to share information about what’s happening on Capitol Hill and at WCOE. There is also a tentative special guest speaker appearance by former Secretary of Labor, Elaine Chou. All WCOE members and prospective members are invited to attend. The event is from 4:00 to 6:00 pm at First Star Safety, 4 Kovach Drive, Suite 403, in Cincinnati. Please RSVP to Tammy Kerr, tammy@ovabc.org.

 

WCOE member recognized as largest minority woman-owned firm

Huge congratulations to Gail Warrior, Founder and CEO of the Warrior Group in DeSoto TX, who was recently recognized and profiled in “The Grio” (NBC News). Gail’s firm does business in 30 states, has well over $100 million in annual revenues and has established her own foundation “Heart of a Warrior Foundation” which provides educational enrichment programs for underserved children. Gail also hosts an annual mentoring event for other entrepreneurs in the construction industry. With a degree in accounting and studies in the Russian language, her path to successful entrepreneur was circuitous, but not unlike many other WCOE members who found themselves as successful construction company owners after exploring other careers.

 

Two Kansas City events announced

It is apparently no coincidence that the Kansas City metropolitan area is our fastest growing region for WCOE membership. This is one very active group of women entrepreneurs and we are delighted to be such an integral part of these energetic women.

On the morning of November 2nd, WCOE will host a breakfast event at Mark One Electric’s spacious training facilities in KCMO. Invited speakers are Kansas Governor Sam Brownback, Congressman Emanuel Cleaver II, (D-MO), and “duct tape marketing guru” John Jantsch. The event begins at 8:00 am and ends at 10:00 am. WCOE members are free and prospective members are $25. If you would like to attend, simply send an email to penny@wcoeusa.org and we’ll get you registered.

WCOE’s strategic alliance partner WIPP’s KCMO chapter is sponsoring a one-day conference on “Women Accessing Capital: Overcoming the Psychology of Small”. The date is October 16, 2012 at the Kauffman Foundation, 4801 Rockhill Road in KCMO. More information is available on our website. The WCOE KCMO group is putting together two tables for our members, so if you want to attend and sit at a WCOE table, contact April Ramirez at april.ramirez@markone.com or call 816.842.7023.

Small Business Saturday is on track for 2012

Following up on a very successful launch last year, Small Business Saturday is back in the news. This is the Saturday that falls between Black Friday and Cyber Monday (following Thanksgiving) when the Holiday shopping frenzy begins. The date is November 24th and we are enthusiastically joining other small business organizations to promote this event. You may remember from last year that this is the day being promoted to shop your local small businesses. Not only can you support our efforts by visiting your local merchants on 11/24, but you can consider offering special deals of your own. There will be massive publicity on this event which is supported financially by American Express so step up and participate.

 

Did you fill out the research survey yet?

The private non-profit Center for Women’s Business Research is conducting research on the state of women-owned businesses and they need the help of WCOE members. They are attempting to put real numbers together about women entrepreneurs – not random sampling, but hard finite numbers that can be used with Congress and Wall Street to get them to sit up and take notice. The survey form is extensive and takes about 15 minutes, but it will pay enormous dividends back to you and your sister entrepreneurs. Just log onto https://www.w-bizinsight.org/. All replies are confidential and reporting is done in the aggregate. Once you complete the form, as a WCOE member you will be enrolled in the prestigious W-Biz Net nationwide panel of women business owners who will be surveyed monthly on a variety of topics related strictly to business ownership. Let our voices be heard!

 

WCOE National Leadership Conference date change

In order to coordinate with the federal OSDBU Annual Conference, the WCOE Annual Leadership conference has been moved one week forward to April 21-24, 2013. More details and registration information will be posted soon, but mark your calendars now.

 

Speaker confirmed for WCOE Annual Leadership Conference

In the first of several upcoming announcements, WCOE this week confirmed that Sharon Hadary will be a featured speaker at our April, 2013 conference in Washington, DC. Sharon is the founder and former Executive Director of the Center for Women’s Business Research (see article above). She is a lifelong activist for women entrepreneurs and has used her influence to transform the landscape for women business owners in capital access, market expansion and network creation. Sharon released her latest book this week, “How Women Lead: The 8 Essential Strategies Successful Women Know”, published by McGraw Hill. It is available at bookstores and online. No doubt Sharon will have copies available at our conference, but if you bring your copy along she will personally autograph it for you. If you have young women in your life – daughters, nieces, friends – this is also a perfect gift.

DOT proposes changes
to DBE rules

Issued last week, the Department of Transportation has issued a proposed rule to modify their Disadvantaged Business Enterprise (DBE) program. They are proposing 3 categories of changes to “improve implementation of DOT’s DBE rule”. First, revisions to personal net worth, application and reporting forms. Second, modifications to certification-related provisions. Third, modifying several other provisions of the rule such as good faith efforts, transit vehicle manufacturers and counting of trucking companies.

WCOE’s legislative advocate, Ann Sullivan will be preparing an analysis for us next week and we will be formulating our formal response. Stay tuned for more on this. Comments are due by November 5, 2012. The full text is available on our website.

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