Breaking Barriers: A Broker’s Role in Supporting Women-Owned Businesses
Quick look: Women’s persistence in the business world speaks for itself: today, they own approximately 40% of U.S. companies. Sustaining that momentum requires a mix of determination and the right support, which is where brokers come in. From simplifying workloads to connecting them to financial tax incentives, here’s how you can partner with a professional employer organization (PEO) to support women-owned businesses all year long.
Women have long overcome obstacles in business to see their efforts pay off. Over time, new legislation, programs, and organizations have helped create a more level playing field and opened doors that were once firmly closed.
According to the Women’s Business Enterprise National Council (WBENC), the country’s 14 million women-owned businesses generate $2.7 trillion in revenue, and the share of female-led organizations increased almost 15% from 2019 to 2023.
Still, there’s more ground to cover. As we celebrate Women’s History Month, it’s a good time to recognize those contributions and think about what comes next. One key way brokers can make a difference is by connecting clients with a professional employer organization (PEO) partner.
PEOs fuel small and medium-sized businesses’ (SMBs’) growth, handling time-consuming human resources (HR) administration, payroll, benefits management, recruiting, and risk and compliance responsibilities. That support means business leaders have more bandwidth to focus on strategy and long-term growth. It also strengthens broker-client loyalty: when brokers bring solutions that make a measurable impact, those relationships tend to stick.
The power of PEO
Partnering with a PEO gives brokers the ability to offer SMB clients access to resources that might otherwise be out of reach, like competitive employee benefits, flexible HR services, and a dedicated team of experts.
This level of advisory outside of standard insurance has become increasingly expected. SMBs seek strategic support that helps them grow and attract and retain top talent.
A PEO equips brokers to make that happen.
Saves business leaders time
Running a company is demanding, and HR responsibilities can consume hours that could be better spent elsewhere. Delegating those tasks to a PEO frees up leaders to stay focused on growth and strategy.
To streamline PEO services, ExtensisHR’s customer service team includes a dedicated Account Manager, SHRM-certified HR Business Partner, and Payroll Specialist, plus an on-demand knowledge base for fast, reliable answers to pressing questions.
Keeps organizations compliant
Employment laws are constantly changing, and staying up to date with local, state, and federal regulations can be challenging for busy SMB leaders. A PEO stays ahead of them so your clients don’t have to scramble to catch up, resulting in a safe, compliant workplace and a proactive approach to whatever’s coming down the road.
Provides expert guidance
Beyond day-to-day HR support, a PEO brings industry expertise that aligns with each client’s core objectives. This is especially valuable for women-owned businesses that may qualify for government programs and incentives designed specifically for them.
Programs and incentives supporting women-based businesses
A robust ecosystem of support is available to women-owned organizations, and a PEO can help clients identify the opportunities that are a good fit, including:
Certification benefits
Certifications like Women’s Business Enterprise (WBE) or Women-Owned Small Business (WOSB) are available to businesses with 51% or more female ownership.
WBE and WOSB approval opens the door to targeted business opportunities, mentorship, development programs, and increased visibility across government supply chains.
Grant opportunities
Funding is helpful for any growing business, and there are grant programs designed specifically for women entrepreneurs. Each opportunity has its own qualifications and deadlines, so it’s best to research ahead of time to see which makes the most sense.
Community support
A strong network makes a difference. Organizations like the National Association of Women Business Owners (NAWBO) and Women’s Business Network (WBN) offer mentorship, shared resources, and connections tailored to women business leaders.
Financial and tax incentives
Certain women-owned businesses may be eligible for deductions, tax credits, or loan guarantees. The New Markets Tax Credit, for instance, is available to businesses operating in underserved communities, and other incentives vary by industry, size, and structure.
Disclaimer: The information provided in this blog is for general informational purposes only and should not be considered legal or tax advice. Tax advantages and eligibility criteria for women-owned businesses may vary based on individual circumstances, location, and business structure. Not all businesses may qualify for the benefits discussed. We recommend consulting with a certified tax professional or legal advisor to understand how these considerations apply to your specific situation.
A creative solution to common business challenges
Progress for women in business is made through a series of deliberate steps, and brokers who introduce PEO solutions into the conversation are taking one of those steps alongside their clients.
ExtensisHR gives brokers the tools and resources to show up as true strategic advisors for their women-owned business clients. Through our comprehensive PEO solution, you can offer:
- Access to Fortune 500-level benefits that are fully customizable to fit each business’s unique needs
- Dedicated HR expertise, payroll support, and compliance guidance, all under one roof
- Complimentary full-cycle recruiting services
- An employee-level service team that answers calls in under 15 seconds
- Industry-leading credibility, with IRS Certified PEO (CPEO), Employer Services Assurance Corporation (ESAC), and SOC 1 Type 2 certifications
By working with a PEO like ExtensisHR, you can provide tailored support that both solves immediate pain points and lays the foundation for women-owned businesses to scale, stay competitive, and sustain long-term growth.
Let’s make an impact together. To learn more about how a partnership with ExtensisHR can benefit you and your clients, contact us today.
