Women-Owned Small Businesses (“WOSB”) have had incredible success over the last decade while facing persistent challenges. The number of WOSB businesses grew to nearly 13 million (or 42% of all businesses) and generated approximately $1.9 trillion in revenue in 2019, (source: 2019 State of Women Owned Business Report, American Express). This compares to just 402,000 WOSB (over 3,100% growth) since 1972, and now women own approximately 4 out of every 10 businesses in the U.S.

This week we celebrate ‘Women in Construction Week.’ The General Services Administration (“GSA”) has awarded over $558.9 million in federal contracts to WOSB in fiscal year 2019.

Last year, 1,817 net new women-owned businesses were launched every day. Women of color founded 64 percent of those new businesses. The industries with the highest WOSB growth rates between 2014 and 2019 include utilities (160% growth), construction (68%), information (36%), other services (29%), and art, entertainment and recreation (23%).

The GSA is actively seeking small businesses for representation for WOSB – SBA set-aside opportunities. FedBiz Access works with WOSB to register with the SBA to help them establish their foundation with the federal government through their initial registration and certification filings, as well as market research to find the right buyers.

FedBiz Access can also help evaluate if a business is qualified to participate other SBA programs and is eligible for a GSA Schedule, as well as guide a business through the registration process. In addition, FedBiz Access provides annual GSA Contract Management services to keep your GSA Schedule current and compliant.

FedBiz Access helps companies build a clear path from registration to award.

#WomenInConstruction #WICWeek2020