Picassa Web photos
The final rule of the U.S. Small Business Administration’s Women-owned Small Business Federal Contract Program went into effect as of February 4, 2011. This new program is designed to expand federal contracting opportunities for Women-owned Small Businesses (WOSB’s) and Economically Disadvantaged Women-owned Small Businesses (EDWOSB’s) by allowing contracting officers to set aside certain federal contracts.
The contracts applicable to the WOSB program are generally geared towards North American Industry Classification System (NAICS) codes that have been underrepresented by women. Some of these industries include: residential construction; apparel accessories and apparel manufacturing; all types of equipment manufacturers; specialized freight trucking; lessors of real estate; professional services; facilities support services; and outpatient care centers. The aforementioned are but a few of the 83 four-digit NAICS codes identified. These translate into, literally, hundreds of businesses that are underrepresented by women.
According to the goals the federal government has in place to award contracts to small business, 23% of Federal prime contracting and subcontracting dollars shall be awarded to small businesses. In addition, the federal government must award 5% of its prime and subcontracting dollars to women-owned small businesses. The purpose of the WOSB program is to provide a level playing field where women owned small businesses can compete. By specifically limiting, or setting aside, certain requirements for competition solely to WOSB’s or EDWOSB’s, the WOSB program does just that (Administration).
Jeffery Zients, deputy director for management at the Office of Management and Budget, reported that federal agencies spent $535 Billion to purchase goods and services from the private sector in fiscal year 2010 (Brodsky). In case your calculator doesn’t compute that many zeros, 5% of that would be $26.75 Billion in business that could be awarded to WOSB’s. With manufacturing contract amounts awarded up to $5 Million and all other contracts up to $3 Million, there are, potentially, more than five thousand opportunities for your business to bid on federal contracts this year!
The WOSB program is a self certifying program, but the SBA has very specific rules about eligibility. I recommend that you read and understand all of the parameters for eligibility or find an expert to assist you as penalties for misrepresentation are very serious. So ladies, if you’ve been waiting for the right moment to jump into the federal marketplace, I’d say the time is now.
RESOURCES
- Black Enterprise – www.Blackenterprise.com BLACK ENTERPRISE is the premier business, investing, and wealth-building resource for African Americans. Since 1970, BLACK ENTERPRISE has provided essential business information and advice to professionals, corporate executives, entrepreneurs, and decision makers.
- SisterSpeak Online Magazine – www.sisterspeakonline.com SisterSpeak is a unique, online lifestyle magazine that celebrates the lives and experiences of Black women, and all women, the world over. Our goal is to inform, inspire and empower women of all ages to live lives of boundless beauty, passion, power and purpose.
- Small Business Administration – www.sba.gov Information resource for small businesses, small business owners and prospective business owners.
- GreenPath – www.greenpath.com Free and confidential counseling. GreenPath is a non-profit organization that offers customized, personal solutions to help you get out of debt.
CURRENT STORIES FROM
