Here are some stats: there are 28 million corporations in America. 60% are small businesses. Women own 30% of small businesses. That number has grown exponentially in the past few years, to become the fasting growing segment in the corporate world.
One of the keys to that growing number is getting women owned businesses involved in government contracting. The government offerers billions of dollars in potential contracts. That got a bit easier this year after the President Obama signed into law the National Defense Authorization Act (NDAA), which removed caps on eligible federal contract awards under the Women-Owned Small Business (WOSB) Federal Contracting program.
Originally, there was a $4 million and $6.5 million cap on awards to women-owned businesses under the program.
SBA’s WOSB program enables federal agencies to set aside contracts specifically for women-owned small businesses to help the government meet its goal to give at least 5% of contracting dollars to women-owned small businesses.
SBA, WIPP and American Express OPEN teamed to celebrate the success of the amendment at a luncheon in DC: Grow Your Business Through Government Contracting. SBA’s Marie Jones kicked off the event.
During the event they also announced a new program to help push women to greater women government contracting. The new program is called Challenge-HER.
The new initiative will deliver free events and workshops, online curriculum, mentoring and access to government buyers to provide women entrepreneurs with the knowledge and connections they need to successfully compete in the government marketplace.
You can find more about Challenge-HER HERE.
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