California Women’s Economic Summit to Boost Procurement for Women-Owned Businesses

The California Women’s Business Centers Network is spearheading a significant gathering by hosting the first-ever California Women’s Economic Summit on May 13, 2026, at the Golden 1 Center in Sacramento, California. This landmark event is poised to gather a diverse array of participants, including state leaders, funders, advocates, and women entrepreneurs. Its goal is to advance investment in women-owned businesses by focusing on key areas such as capital access, procurement opportunities, childcare, and comprehensive economic development. As a sold-out event, it signifies a growing recognition of the importance of supporting women entrepreneurs in California’s economy.

Attendees will benefit from robust networking opportunities and business development discussions aimed at elevating the presence and participation of women-owned businesses in state procurement and economic initiatives. The summit will not only spotlight the economic contributions of women entrepreneurs but also emphasize the critical need for increased access to capital, which has been identified as a significant barrier to the growth of women-owned firms. This focus aligns closely with the state’s overarching goals of achieving broader economic inclusion for underrepresented groups.

California has established itself as a leader in promoting policies that support women in business. The summit will serve as a platform to explore these policies further, discuss the respective roles of policymakers, business leaders, and the community, and identify potential shifts in procurement strategies that seek to facilitate greater capital access. As funding continues to flow into women's enterprises, stakeholders in procurement will need to stay ahead of emerging insights from such engagement to optimize supplier diversity programs.

The Economic Summit will kick off with a press conference and a welcome reception on May 12, prior to the main event. These activities will provide participants with early insights into the economic impact of women entrepreneurs and underscore the necessity for ongoing investment into women-owned small businesses. Key discussion points will include issues related to digital equity, innovations in the creative economy, and the barriers faced by women entrepreneurs in traditionally male-dominated industries.

The California Women’s Business Centers (CA WBC) have built an impressive track record since their inception in 2019, facilitating substantial financing for their clients. In 2025 alone, CA WBC clients accessed $53.2 million in capital, with approximately 65% of these funds directed towards women-of-color-owned businesses. Furthermore, the center has generated $637.4 million in overall client sales and has significantly contributed to job creation, having created or retained over 20,148 jobs across the state. Each dollar invested in the CA WBC is said to generate a remarkable $79 in local economic impact. This return on investment for women's entrepreneurial support provides compelling evidence of the potential benefits for policymakers and business leaders alike.

Procurement professionals should closely monitor the outcomes of the summit, as strategies discussed may lead to significant adjustments in contracting opportunities offered by the state. The intent to bolster economic inclusion for women is evident, reflecting a burgeoning landscape that encourages diverse suppliers to engage more deeply with governmental procurement processes. As the summit aims to forge partnerships and highlight accessible opportunities for women-owned businesses, stakeholders in the procurement space will do well to prepare for evolving expectations and policies stemming from this pivotal event.