The government-wide prime contracting goal for spending with women-owned small businesses is 5%, and this goal has never been met.
The recent implementation of sole source authority in the Women-Owned Small Business (WOSB) Federal Contracting Program is a huge step forward and will open the federal marketplace to women business owners in pursuit of both new and larger dollar contracting opportunities. But we can’t stop there. Too many barriers and challenges remain for women in pursuit of opportunities with the federal government, the largest buyer of goods and services. When the government falls short of its minimal procurement goal, it’s a huge net loss – in terms of contracting dollars and opportunities – for women small business owners. In fiscal year 2014, it was a potential loss of $1.2 billion. Women small business owners stand to benefit greatly from increased access to the federal procurement marketplace, and so too does the economy.