EDA administrator and WBENC leader urge better access to capital, broadband and AI inclusion for women entrepreneurs

Alejandra Castillo, administrator of the U.S. Economic Development Administration, sat down with Pam, president and CEO of the Women's Business Enterprise National Council (WBENC), to discuss how policy and programs can expand opportunities for women entrepreneurs.

Castillo opened the conversation during Women's History Month by highlighting the role federal data and programs play in making women-owned businesses visible and competitive. "The data gives us that visibility," Castillo said, framing the interview around the government's role in economic equity.

Pam said a key historical turning point was the passage of HR 50 in 1988, which required the Census to count women-owned businesses. That data, she said, helped spur women's business centers and improved access to capital. "When you have the data, it's really useful," she said, adding that before that change some women could not obtain loans without a male co-signer.

The conversation centered on two practical constraints Pam identified as the most urgent: access to capital and access to markets. "The biggest concerns we have are access to capital and access to markets or to opportunity," she said, and warned that growing political polarization risks turning shared economic priorities into partisan fights. "We need facts to be understood by people," Pam added, urging pragmatic consensus over stalemate.

Castillo and Pam discussed concrete areas where federal investment creates opportunity. Castillo cited federal broadband funding and the bipartisan infrastructure law as sources of contracting work in construction and engineering that could engage more women-owned firms. Pam welcomed those investments as openings for firms across industries, from construction to cybersecurity and agrotech.

The interview also covered how women's participation varies within the category "women-owned": Pam urged tailored strategies for women of color, veterans, LGBTQ+ women and people with disabilities. She highlighted the economic stakes, saying that if women-owned businesses reached parity with male-owned firms in average revenue, it would add "$7.9 trillion" to the economy, and narrowing gaps between subgroups could add further gains.

Pam offered advice for individual entrepreneurs and advocates: prepare a fact base before speaking, use your voice strategically and take time to craft influential arguments rather than feeling compelled to reply immediately. "You need to use your voice in a way that people will listen to you," she said.

On technology, Pam said AI offers potential productivity gains but also significant risks if its development and oversight lack diverse perspectives. "AI has the potential to do a number of things that can improve process ... however it also has a lot of potential problems," she said, adding that women must be at the table shaping frameworks and standards.

Toward the close, Castillo and Pam pointed listeners to practical resources for entrepreneurs, including Women Business Centers, the Small Business Administration and WBENC's programs and events. The interview ended with a mutual call for partnership across federal agencies and nonprofit organizations to expand opportunity year-round.

The EDA administrator conducted the conversation as part of a series highlighting women leaders; no formal votes or policy decisions were taken during the recorded interview.