April 30, 2009--McLean, VA--The Center for Women’s Business Research is thrilled to acknowledge and congratulate Wal-Mart for its increased business spend with women- and minority-owned businesses in 2008. Wal-Mart reported direct and second-tier spend with these diverse groups increased by $2 billion over 2007 – an increase of more than 25 percent.

Wal-Mart and Sam’s Club have been leading sponsors of Accelerating the Growth of Businesses Owned by Women of Color, a multi-year research initiative developed and implemented by the Center for Women’s Business Research and Center for Women’s Leadership at Babson College. This research has been pivotal in recognizing the unique barriers women business owners of color face as they grow their firms.

“There are 2.3 million businesses owned by women of color which employ 1.7 million people and generate $235 billion in annual revenues. They are starting businesses at a faster rate than all businesses but their firms are not achieving the same level of success when measured by revenue and employment,” said Sheila Brooks, founder and CEO of SRB Communications and National Spokesperson for the Accelerating initiative. “These businesses have great untapped potential for economic and social impact that will only be realized by clearly recognizing their challenges and developing targeted programs and policies to remove those barriers.”

“At Wal-Mart, we welcome the positive impact the Center for Women’s Business Research and other organizations have on the continued growth of minority- and women-owned businesses across the country,” said Theresa Barrera, vice president of Supplier Diversity at Wal-Mart Stores, Inc.  “Working with these businesses helps further our company’s efforts to positively impact local communities, through continued economic development, while serving the needs of our customers.”

 “We continue to disseminate research findings in ways that directly impact both the woman business owner and the corporate executive, challenging them to put into place the strategies and actions that are successful in overcoming barriers to growth,” said Beverly Holmes, CEO of BA Holmes & Associates and Chair of the Center for Women’s Business Research.  “We have two webinars scheduled, forums in Dallas and Chicago this fall, and we anticipate continuing the research next year with a targeted focus on unique barriers faced by Latina business owners.”

About Center for Women’s Business Research
The Center for Women’s Business Research provides data-driven knowledge that advances the economic, social and political impact of women business owners and their enterprises. We do this by setting the national agenda; creating insight on the status and achievements of women business owners; altering perceptions about the economic viability and progress of women-owned enterprises; and driving awareness of the economic and social impact of this vital business sector. Find out more online at www.womensbusinessresearch.org.

About The Center for Women's Leadership's at Babson College
The Center's mission is to create, support and disseminate best practice for women's entrepreneurial leadership through educational excellence, innovative professional development and outreach and research that translates data into knowledge and knowledge into action.