Procurement Statistics Revealed Great Gains for Women-Owned Small Businesses
WASHINGTON, Nov. 14, 2013 /PRNewswire-USNewswire/ -- The National Women's Business Council's (NWBC) latest research reveals government performance and trends in procurement as it relates to women-owned small businesses. As the government's only independent voice for women entrepreneurs, the NWBC's intensive research reveals vital data and gives substantive tips to help women secure government contracts.
"There have been many great gains for women-owned small businesses, especially as they have increased their procurement share," said NWBC Research and Policy Director Emily Bruno. "However, despite the progress, the average award remains lower than those of other small business that are not women-owned. Our research allows us to make the best possible recommendations to strengthen the economic stability of women entrepreneurs."
The NWBC began investigating the Women-Owned Small Business Federal Procurement Program (WOSB FCP) after its implementation in 2011. View the full infographic here.
Important Highlights From The Report Include:
- The WOSB FCP has facilitated entry of new participants in federal contracting through the use of the WOSB and EDWOSB (economically disadvantaged WOSB) set-asides, in addition to increasing their procurement share.
- During the period of analysis, WOSBs generally received an increasing share of contracts and awards, not only within the 83 designated industries but in other industries as well. However, although WOSBs are generally meeting the contract threshold within the 83 industries, they remain underrepresented in terms of awards share.
- Despite WOSB progress, average WOSB awards remain lower than those of other small businesses. The number of industries in which the WOSB share of awards is greater than the WOSB share of contracts remains low, indicating that on average, WOSBs are earning less money per contract than non-WOSBs in the majority of industries.
- Consistent with general procurement trends for WOSBs, vendors with more longevity and stability (i.e., receiving contracts in multiple fiscal years) were able to secure a larger portion of contracts through the use of the WOSB and EDWOSB set-asides. However, almost half of all WOSB vendors received contracts only in a single fiscal year, indicating a high rate of turnover.
The National Women's Business Council (NWBC) is a non-partisan federal advisory council created to serve as an independent source of advice and counsel to the President, Congress, and the U.S. Small Business Administration on economic issues of importance to women business owners. The Council is the government's only independent voice for women entrepreneurs. Members are prominent women business owners and leaders of women's business organizations. NWBC is composed of 15 members who are appointed to three-year terms.
Contact: Krystal Glass
SOURCE National Women's Business Council