Women's Business Ownership Act of 2011 - Establishes the Commission on Women's Business Ownership to review and make recommendations concerning: (1) the status of women business owners across the United States, and their progress made since the 1980 White House Conference on Small Business; (2) the role of the federal government in aiding and promoting women business owners; and (3) data collection procedures with respect to women-owned businesses, including federal initiatives and procurement.