Small Business in a Big World

October 13, 2010

Empowering Women Entrepreneurs: 5 Facts About Women’s Procurement Program

[tweetmeme source=”LilBizBigWorld” only_single=false] In recent news, a final ruling had been released regarding the implementation of the Women’s Procurement Program. The goal of said program is for women-owned businesses to obtain federal contracts. The passing of this legislation would undoubtedly bring about improvements in the previously underrepresented status of women in the business industry.

I have gathered 5 facts concerning said program:

Fact #1: Previous federal contracts afforded to Women-Owned Small Business (WOSB) does not exceed $3 million for services and $5 million for manufacturing. With the program in place, the potential representation would be about $6 billion in contract opportunities.

Fact #2: WOSB only represent about 30% of women-owned businesses (making up about 51% or more). And the previous federal procurement spending is only about 5% . This goes to show that WOSB can be considered a minority group in the business sector.

Fact #3: The goal which states that WOSBs should take about 5% of government contracts was never achieved.

Fact #4: Because of the federal contract assistance, WOSB would now be expanded from four to 31 categories.

Fact #5: The final rule requires contracting agencies to admit that they’re gender-biased when awarding certain contracts to women-owned businesses which critics say are highly unlikely to happen.

With the Women’s Procurement Program, WOSBs are given an equal opportunity for a chance to share on the over $500 billion the U.S. government spends each year on goods and services. It’s about time, don’t you think so?


1 Comment »

  1. Zune and iPod: Most people compare the Zune to the Touch, but after seeing how slim and surprisingly small and light it is, I consider it to be a rather unique hybrid that combines qualities of both the Touch and the Nano. It’s very colorful and lovely OLED screen is slightly smaller than the touch screen, but the player itself feels quite a bit smaller and lighter. It weighs about 2/3 as much, and is noticeably smaller in width and height, while being just a hair thicker.

    Comment by digital art — September 30, 2011 @ 1:37 am | Reply

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