SBA Readies Small Business Program For Women
SBA finalizes contracting program for women
The U.S. Small Business Administration has announced it will begin implementation of its women-owned small business (WOSB) contracting program.
The rule is part of the Obama Administration’s overall commitment to expanding opportunities for small businesses to compete for federal contracts, in particular those owned by women, socially and economically disadvantaged persons and veterans. This rule identifies 83 industries in which WOSBs are under-represented or substantially under-represented in the federal contract marketplace.
In addition to opening up more opportunities for WOSBs, the rule is also another tool to help achieve the statutory goal that 5 percent of federal contracting dollars go to women-owned small businesses.
“Women-owned businesses are one of the fastest growing sectors of our nation’s economy, and even during the economic downturn of the last few years, have been one of the key job creation engines in communities across the country,” SBA Administrator Karen Mills said.
“Federal contracts provide critical opportunities for owners of small firms to take their business to the next level and create good-paying jobs,” Mills added. “Despite their growth and the fact that women lead some of the strongest and most innovative companies, women-owned firms continue to be under-represented in the federal contracting marketplace. This rule will be a platform for changing that by providing greater opportunities for women-owned small businesses to compete for and win federal contracts.”
The agency expects the program to be available for WOSBs in early 2011.