Empowering Women Entrepreneurs: Navigating Government Contracts

March heralds a celebration of women's achievements, particularly in the entrepreneurial arena. With over 7 million women-owned businesses flourishing across the United States, it's evident that women are driving forces in the economic landscape. States such as Washington, D.C., and Maryland, along with cities like Detroit, proudly host significant percentages of women-owned enterprises, showcasing the rich diversity of female entrepreneurship.

The collective receipts of women-owned businesses tally an impressive $1.2 trillion, underscoring their substantial economic influence. Notably, African American women-owned firms contribute significantly, generating a substantial $36.8 billion in revenue. As Women's History Month draws to a close, it's an opportune moment to shine a spotlight on the Women-Owned Small Business (WOSB) program, which serves as a gateway for women entrepreneurs to engage with the federal government.

In 2012 alone, WOSBs clinched contracts totaling $16.2 billion, constituting four percent of all small business federal contracts. The potential for growth and opportunity in this sector is vast. Whether you're an established entrepreneur or just embarking on your journey, delving into this market could catalyze transformative growth for your business.

Never underestimate the potential for your business to thrive in the government contracting sphere. Federal and state governments annually procure a vast array of goods and services, offering abundant opportunities for women-owned businesses to flourish. So, who qualifies for the WOSB program? The criteria are clear-cut: the business must meet the Small Business Administration's (SBA) definition of small, with at least 51% ownership and control vested in one or more U.S. citizen women. Control extends beyond mere day-to-day operations to encompass long-term strategic planning as well.

Certification serves as the gateway to accessing WOSB contracts. Whether through self-certification or third-party certification by governmental agencies or approved entities, obtaining WOSB status is pivotal for participating in contract bidding. Numerous industries stand eligible for WOSB contracts, particularly those where women-owned businesses are underrepresented or substantially underrepresented. From residential construction to transportation and design, a broad spectrum of opportunities awaits women entrepreneurs.

Thankfully, a wealth of resources exists to guide women business owners through the intricacies of bidding on government contracts. Organizations such as the Women's Business Enterprise National Council, the National Association of Women Business Owners Corp., and the Small Business Administration's Office of Government Contracting offer invaluable assistance and support.

If you're a small business already engaged in government contracts or aspiring to secure them, legal counsel can prove invaluable. We at The SJS Law Firm, PLLC are here to offer personalized legal assistance tailored to your business's unique needs. Reach out to us at 202-505-5309 or info@thesjslawfirm.com for expert guidance on navigating the complexities of government contracting.