SBA proposes rule to help women-owned businesses
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The goal for award of federal contracts to women-owned businesses is set in statute at 5 percent of all contracts. The SBA notes that the highest percentage that has ever been reached is only a little over 3 percent.
Small women-owned businesses are a growing segment of the national economy. SBA officials say that garnering their share of federal contracting dollars in many cases can allow those businesses to expand their volume, creating good-paying jobs and thus having a positive effect on the local, state and national economies.
In determining which industries were under-represented in federal government contracting, the SBA studied both the share of contracting dollars and the share of number of contracts awarded to small women-owned businesses. The proposed rule authorizes a set-aside of federal contracts for these businesses - for contract prices that do not exceed $5 million in manufacturing and $3 million for other contracts. Larger contracts are not subject to the set-aside. To view the proposed rule, click here.
