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SBA Announces New Contracting Initiative for Women-Owned Businesses
Published on Feb 7, 2011
Read our article, 'SBA Announces New Contracting Initiative for Women-Owned Businesses' at 'Time to Start Up,' the small business blog by BizFilings.
The U.S. Small Business Administration has announced the implementation of a new program aimed to boost federal contracting opportunities for the nation's small women-owned businesses.
According to the Dallas Morning News, the Women-Owned Small Business Federal Contract Program will allow agencies to set aside $30 billion in federal contracts specifically for women-owned businesses.
The measure is also an attempt to push the government closer toward its goal of contributing 5 percent of its total contracting dollars to women-owned companies. These businesses currently account for 3.4 percent of federal contracts.
"Women-owned businesses are one of the fastest growing sectors of the economy. As we continue to look to small businesses to grow, create jobs and lead America into the future, women-owned businesses will play a key role," said SBA Administrator Karen Mills.
"That's why providing them with all the tools necessary to compete for and win federal contracts is so important," Mills added.
According to U.S. Census data interpreted by the Dallas Morning News, women-owned businesses accounted for 29 percent of all private companies in 2007. With Friday's announcement from the SBA, many analysts are hoping business filings by women will grow in coming months.
Visit BizFilings.com learning center for women-owned business resources:
Business Resources for Women Entrepreneurs A Guide to Starting and Running a Woman-Owned Business