Washington, DC – The Women’s Business Development Center in Stamford will receive $200,000 to provide entrepreneurial training to women in Connecticut as a result of funding requests by Reps. Jim Himes (CT-4) and Rosa DeLauro (CT-3). The projects are included in the Financial Services Appropriations Act that passed the U.S. House late last week. The bill also includes provisions to protect consumers and investors by helping restore the stability of America’s financial markets and boosting oversight of consumer products, including toys.
“Our economic recovery depends on the health and stability of our small businesses,” said Congressman Himes. “This project will provide women entrepreneurs the help they need to invest in and grow their businesses while creating jobs.”
The Women’s Business Development Center plans to use this funding to assist women seeking to start or expand a microenterprise. The investment will allow the Center to serve the increasing number of resident who have lost their jobs or entrepreneurs whose businesses are struggling in the current economic climate.
In addition to funding important local projects, the Financial Services Appropriations Act strengthens the roles of the Securities and Exchange Commission and the Federal Trade Commission to enforce the rules that govern financial markets, detect and prosecute fraudulent schemes, and protect consumers. It provides funding for an additional 140 investigators, lawyers, and analysts to strengthen and enforce the rules that govern investment and financial markets and to detect and prosecute fraudulent Madoff-like schemes.
In response to massive recalls on household products such as children’s toys, the legislation also boosts funding for the Consumer Product Safety Commission so they can thoroughly inspect more of the products families bring into their homes.