$30 Billion for Women Owners February 2, 2011My BusinessOff

Finalized by the Obama administration last year, the Small Business Administration’s Women’s Federal Procurement Program officially goes into affect Feb. 4. What does this mean for women-owned businesses? A lot.

“The program has been a fight in congress for 11 years,” Lourdes Martin-Rosa, American Express OPEN advisor on government contracting, tells PINK. “There are $30 billion in contracts set aside specifically for women. For the 80,000 women-owned small businesses currently registered in the Central Contractor Registration, this is an enormous opportunity.”

The rule aims to combat underrepresentation of federal contracts for women across 83 industries, including legal services, manufacturing and specialty companies. Women received a mere 3.4 percent of federal contract dollars in 2009.

For contracts worth more than $25,000, the Federal Business Opportunities site is the single point of entry for getting qualified. SBA helps direct you to what loans are right for you and the steps to getting them. Certify my Company helps women-owned businesses properly complete the paperwork necessary to become nationally certified and able to better compete with higher-level businesses. Give Me 5 offers webinars, Insight Guides and regional event to help women-owned businesses learn how to apply for and secure federal procurement opportunities.

“The most important tips are to find out what contracts are available, sign up for automatic notifications relevant to your industry and learn how to get your business ready for federal government contracting,” suggests Martin-Rosa.

Bonus PINK Link: Check out our exclusive profile of Karen Mills, the head of the Small Business Administration!

By Caroline Cox

“The future is completely open, and we
are writing it moment to moment.” Pema Chodron

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