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In honor of Women’s History Month, the U.S. Small Business Administration has announced that the federal government met its goal of awarding 5% of federal contracts to women-owned business owners (WOSBs) for the first time in history—a huge milestone for female entrepreneurs and the small business community.

American Express OPEN, who has a long history of championing small businesses in the government contracting space with the SBA and others, celebrate the U.S. Government’s achievement of awarding 5% of its annual federal contracts to women-owned small businesses for the first time since the goal was set more than twenty years ago. The 5% 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.

[Related: The Best and Worst Rated Federal Agencies For Minority Contracting]

Meeting the 5% goal helps

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Source: Black Enterprise » Small Business