February 23, 2017
GovConVoices: Women-Owned Small Businesses Still Underrepresented On Government’s Biggest Contracts
Source: SmallGovCon, Courtney Fairchild, February 16, 2017
Taken as a whole, the Government-wide performance metrics for small business utilization are encouraging.
The Small Business Administration’s FY2015 report card shows that the Government exceeded its prime contracting goals across four of the five socioeconomic categories measured. Moreover, the amount of federal spend going to small businesses reached an all-time high of over 25%.
|Business Type||Goal Percentage||Actual Percentage|
|Small Business (SB)||23%||25.75%|
|Woman-Owned Small Business (WOSB)||5%||5.05%|
|Small Disadvantaged Business (SDB)||5%||10.06%|
|Service Disabled Veteran Owned Small Business (SDVOSB)||3%||3.93%|
|Historical Underutilized Business Zones (HUBZone)||3%||1.82%|
These numbers do not tell the whole story, however. The 5% goal for WOSBs has been in place since 1994, and since at least 2008, major campaigns have aimed to bridge the gap. In 2014, WOSBs became eligible for sole-source awards, an important means of gaining a foothold in the federal marketplace.
Nonetheless, FY2015 marks the first time ever that the 5% goal has been met.
While the milestone is certainly a victory, significant disparities remain. A January 2016 report by the Department of Commerce found that woman-owned firms are 21% less likely to win federal work than comparable businesses owned by men—even when controlling for potentially confounding variables such as business size, age, and past performance. READ MORE….
Contact your nearest PTAC to learn about the woman-owned small business program and government contracting.
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