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Increased Federal Procurement for Women Business Owners
01/01/2007 - By National Association of Women Business Owners (NAWBO) NAWBO
NAWBO
Currently, only three percent of federal contracts go to women-owned businesses. NAWBO is strongly advocating to raise that number to the five percent minimum established in 1994.
Background
In 1994, Congressional legislation mandated that five precent of government contracts go to women-owned businesses. To help meet this goal, a set-aside program for women-owned businesses was established in 2000.
Currently, only three percent of federal contracts go to women-owned businesses. NAWBO is strongly advocating to raise that number to the five percent minimum established in 1994.
Why It Matters
Doing business with the government is an important step in the growth of a business.
If women business owners had received five percent (rather than three) of the $277.5 billion spent by the federal government with prime contractors in FY 2003, they would have received $13.68 billion in contracts.
That's $4.9 billion more than they actually received. Meeting the five percent procurement goal will help women business owners achieve greater success.
Action
NAWBO has brought this issue to the forefront by:
- Regularly corresponding with the Small Business Administration
- Writing a report on procurement for women business owners
- Putting out press releases and highlighting media coverage
- Speaking with lawmakers
(For more information on this article, and related articles, please visit NAWBO's website)
Be sure to check out the Press Release at http://www.nawbo.org/content_2828.cfm
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