MIAMI - The U.S. Small Business Administration signed its first Strategic Alliance Memorandum (SAM) with the Women’s Business Development Council of Florida today in the Tower Club in downtown Fort Lauderdale.

The purpose of this SAM agreement is to foster mutual understanding and a working relationship between the two organizations to impact small business development and expansion.

"Women-owned businesses have grown by a remarkable 20 percent in just five years. Today, one in five U.S. companies is owned or led by a woman," said South Florida District Director Francisco "Pancho" Marrero. "This is our first SAM with the WBDC of Florida and we look forward to working with the council to inspire other women to consider small business ownership and increase the number of women-owned businesses."

The WBDC of Florida has been the Florida Regional Partner of the Women’s Business Enterprise National Council for the past 13 years. The Council’s mission is oriented towards forming alliances and strategic partnerships with major corporations for the purpose of introducing them to women owned businesses. The Council manages a national certification program for women-owned businesses and businesses have greater success in competing for contracts.

"The WBDC Florida is very excited to officially partner with the Small Business Administration to help our members at all levels of operation: startup to mid-level to seasoned businesses as they grow," said G. Nancy Allen, President and CEO of the WBDC Florida.

SBA South Florida Assistant District Director Area 1 Althea Harris and WBDC President/CEO G. Nancy Allen signed the SAM which will remain in effect for two years.