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New Opportunities for Women-Owned Businesses

Effective October 1, 2007, federal contracting agencies are allowed to restrict competition on contracts less that $3 Million (or $5 Million for manufacturing contracts) to women-owned small businesses where they are underrepresented in the federal procurement process. Companies must be certified by the Small Business Administration (SBA), meet SBA standards, and be at least 51% owned by one or more women each with an individual net worth of less than $750,000. According to the U.S. Chamber of Commerce, women-owned businesses were under-represented in more than half of the industry categories studied for federal purchasing during 2002, 2003, and 2005.