SBA Announces Contracting Program for Women-Owned Small Businesses
Women-owned small businesses can begin taking steps to participate in a new federal contracting program the U.S. Small Business Administration recently announced. The new Women-Owned Small Business (WOSB) Federal Contract Program will be fully implemented over the next several months, with the first contracts expected to be awarded by the fourth quarter of fiscal year 2011.
“Implementing the Women-Owned Small Business contracting rule has been a top priority for the Obama Administration and SBA,” said Administrator Karen Mills. “Women-owned businesses are one of the fastest growing sectors of the economy. As we continue to look to small businesses to grow, create jobs and lead America into the future, women-owned businesses will play a key role. That’s why providing them with all the tools necessary to compete for and win federal contracts is so important.”
SBA released instructions on how to participate in the program, as well as launch the secure, online data repository
To qualify as a WOSB, a firm must be at least 51 percent owned and controlled by one or more women, and primarily managed by one or more women. The women must be U.S. citizens and the firm must be considered small according to SBA size standards.
For more information on the Women-Owned Small Business Program or to access the instructions, visit www.sba.gov/wosb.