sba women

After almost two decades, the federal government for the first time has been able to meet its goal of awarding five percent (worth $17.8 billion) of all contracts to women-owned small businesses.

Maria Contreras-Sweet, Administrator for the U.S. Small Business Administration (SBA) along with Valerie Jarrett, Senior Advisor to President Barack Obama, Congresswoman Nydia Velazquez and two other members announced that the federal government has surpassed its five percent contracting goal for women-owned small businesses (WOSB) for the first time.

Women Owned Small Businesses On The Rise

In the announcement, Contreras-Sweet said, “Meeting this goal means five percent is no longer our ceiling but our foundation upon which to build. A recent SBA-commissioned study revealed women-owned businesses already employ eight million American workers, but when it comes to receiving contracts and capital, women are still under-represented. That’s why the SBA has added 36 new industry categories

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Source: Small Business Trends