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Boost For Women Business Owners

Date: 06/28/2006 | Category: Business | Author: Diana Heeb Bivona

The SBA announced this month that it would begin implementing the Women-Owned Small Business Federal Contract Assistance Program.  Originally authorized in 2000, but not implemented, the program was designed to ensure that women-owned small businesses would receive at least 5% of all federal government contracts.

Historically, women small business owners have been  underrepresented in federal government contracts. For example in 2004, women only received approximately only 3% of federal government contracts.  The federal mandate set in 1994 required that  at least 5% of the total value of all prime federal government contracts and subcontracts were to be awarded to women. That goal has not been met since 1996.

The Women-Owned Small Business Contract Assistance Program would provide assistance to businesses owned at least 51% by women who are economically disadvantaged, with certain exceptions for some industries.

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