Presidential candidate and former Vice President Joe Biden released a plan in late July entitled “The Biden Agenda for Women.” It contains, among other agenda points, a plan to “improve economic security,” which itself includes detailed policy positions pertaining to women-owned small businesses.

“Women start businesses at two times the rate of men and now represent 42% of the nation’s businesses,” the plan reads. “But, they still raise much less capital — with only about 2% of all venture capital funds going to women-owned businesses — and are more likely to rely on personal funds.” It goes on to call for “capital, technical assistance, mentorship, and support” for women’s business enterprises.

The Democratic presidential candidate’s campaign vows Biden will take a number of measures to help women small business owners, including:

• “Direct federal funding to women-owned businesses, including through his new historic $400 billion investment in additional federal purchases of products made by American workers, in his first term. 
• Double funding for the State Small Business Credit Initiative.
• Improve and expand the Small Business Administration programs that most effectively support women-owned businesses, especially those owned by women of color.”

Biden’s plan for a $400 billion investment in federal purchases of US-made products would be the “largest mobilization of public investments in procurement, infrastructure, and R&D since WWII,” according to the campaign, and would “be designed to support small businesses and those owned by women and people of color.”

Meanwhile, the State Small Business Credit Initiative (SSBCI) -- a program created by the Obama administration that helped support investment in small businesses -- would be extended through 2025 and see it’s funding doubled by the federal government to $3 billion.

In addition, Biden hopes to expand on Small Business Administration programs for women “and particularly women of color,” citing successes of the Obama administration SBA investment programs designed to such ends and his intention to “build on this work.”