New Program Educates Women On Contracting Opportunities
The U.S. government is the world’s largest purchaser of goods and services so it’s no wonder that many small businesses aim to fatten their bottom lines by landing a lucrative federal contract.
At least 23 percent of federal agencies’ spending must go to small firms. Women-owned businesses have landed a surprisingly small percentage of government contracts, currently receiving about 3.4 percent, or $11 billion, out of the $400 billion in contracts awarded annually. Congress mandated that women-owned firms should garner at least 5 percent, but that goal has never been met.
Lawmakers and the administration have been feuding for years over a strategy to help more women win more contracts from the federal government, but a new private-sector initiative is aiming to close the gap while the differences fester.
American Express OPEN partnered with public policy group Women Impacting Public Policy to launch the Give Me Five initiative last month.
The national program has been designed to educate women business owners on how to apply for and secure federal procurement opportunities. Read more.
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