Big Win for Women-Owned Small Business
Posted by YWM on October 7, 2010
BPW Foundation CEO Deborah L. Frett writes about the latest good news coming out of the Small Business Administration.
Last week the President signed a small business bill into law that gave eight tax breaks for small businesses, allows sole proprietors to deduct health care costs like other businesses and gives banks incentives to lend to small businesses.
This will affect 97% of the women owned businesses in the country. Included in the bill were important contracting changes which will result in more federal contracts to women owned firms. BPW has been working on securing these changes for years.
But that was last week.
This week, the SBA announced a women’s procurement program which will result in greatly increasing federal contracts to women business owners.
SBA Administrator Karen Mills announced the much-anticipated women’s procurement program, which will give contracting officers the ability to award more contracts to women owned businesses. By restricting competition in 83 industry NAICS codes, women owned businesses have a new tool to help grow their businesses and compete for federal contracting dollars.
In light of the fact that the federal government has never met its goal for contracting with women-owned firms, this program is necessary and greatly welcomed.
These are hard-won victories. It took 10 years to get the women’s procurement program in place and changes in the small business bill have taken decades of work to implement.
We are giving ourselves a pat on the back but we really need to give the White House, the SBA and Members of Congress the biggest pat on the back. Together, we achieved great things for women business owners.
You can read more from Frett on Twitter at @BPW_CEO.