US Women's Procurement Program clears path to $6 billion in potential contracts

15 Oct 2010

Source  PR Newswire

The US Women's Business Enterprise National Council (WBENC) has applauded the release of the final rule which will implement the Women's Procurement Program.  "The Women's Procurement Program at last clears the way for women's businesses to compete for federal contracts and increase their share of this business representing potentially $6 billion," said WBENC President and CEO Linda Denny.

Signed into law by President Clinton in 2000, the Women-Owned Small Business Federal Contract Program of the Small Business Act set a five percent contracting goal for the Federal Government to do business with women owned companies.  Even though the Federal Government has come from less than one percent to about 3.5 percent currently, the difference between the current number and the five percent goal represents over $6 billion in contract opportunities for women.

The rule also allows woman-owned businesses to either self-certify or certify through third parties approved by SBA.  "As the leading certifier of Women's Business Enterprises (WBEs), WBENC is delighted that the SBA will also open the door to third-party certification," Denny added. "The Women's Procurement Program will benefit not only the businesses themselves, but also the new hires and investments that we know is the bigger economic outcome of women's business growth," she said.

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