Women Impacting Public Policy (WIPP) and American Express OPEN have commended the U.S. Government’s achievement of awarding 5% of its annual federal contracts to women-owned small businesses.
This is the first time since the goal was set more than twenty years ago.
The five percent goal was put in place as part of the Federal Acquisition Streamlining Act of 1994 and led to the creation of the Women-Owned Small Business (WOSB) Federal Contract program in the Equity in Contracting for Women Act of 2000.
WIPP and American Express OPEN are longtime champions of women entrepreneurs in the federal contracting space. Together they created the Give Me 5 program in 2008 to give women-owned small businesses access to knowledge and resources to help win federal contracts.
At the time, just 3.4% of federal contracts were awarded to women-owned small businesses—roughly $13 billion of the approximately $400 billion awarded annually.
In April 2013, WIPP, American Express OPEN and the Small Business Administration (SBA) launched ChallengeHER, a national initiative to boost government contracting opportunities for women-owned small businesses. ChallengeHER delivers free workshops, mentoring and direct access to government buyers. Now entering its fourth year, ChallengeHER has educated more than 5,400 women entrepreneurs at 39 workshops across the country and facilitated more than 1,900 meetings between women small business owners and government officials.
The contracting landscape for women-owned businesses has improved significantly as a result of strong public and private support and bipartisan efforts. In early 2013, due to the efforts of WIPP and their coalition partners, President Obama signed into law the National Defense Authorization Act (NDAA) which removed caps on eligible federal contract awards under the U.S. Small Business Administration’s Women-Owned Small Business (WOSB) Federal Contract program. Before the law was put into place, awards to women-owned small business were capped at $4 million and $6.5 million under the program. WIPP had further success in improving the WOSB Federal Contract Program in 2014 with the passage of a new law that provided federal agencies with statutory authority to award sole-source contracts to women-owned small businesses. The WOSB program was the only major small business contracting program without this authority at the time – putting women entrepreneurs at a distinct disadvantage.
WIPP, American Express OPEN and the SBA will host a reception in Washington D.C. in April to recognize the leaders and organizations that played a role in meeting the five percent federal contracting goal for women-owned small businesses.
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