Women-owned businesses are making waves in 2020. Right now, there are nearly 10 million women-owned small businessesin the United States, according to the U.S. Small Business Administration (SBA) Office of Advocacy. What’s more, a survey by SBA resource partner SCORE shows that women in business are just as successful as men (as measured by business starts, revenue growth, job creation, and number of years in business).
This Women’s History Month, we’re celebrating the continuous strides women business owners have made since the SBA’s Office of Women’s Business Ownership(OWBO) was first established in 1979. Today, the OWBO continues to provide women entrepreneurs with the resources they need to start, grow, and expand their businesses. Here are a few ways we can help you take your women-owned business to the next level.
Women-Owned Small Business (WOSB) Federal Contracting Program
Every year, the federal government's goal is to award at least 5% of all federal contracting dollars to women-owned small businesses. Through the WOSB Federal Contracting Program, women-owned businesses can compete for exclusive set-aside federal contracts. Eligible women-owned businesses may also qualify for the 8(a) Business Development Program, which helps small, disadvantaged businesses compete in the marketplace.
For example, with help from the WOSB Federal Contracting Program and 8(a) Business Development Program, Demetrica Berry grew her business – Berry Technology Solutions– from a home-based enterprise into a corporation with dozens of full-time employees and millions in revenue. “Without the SBA, my company would not be nearly as successful,” says Berry.
If you’re interested in government contracting, review our guide to federal government contracting. To find out more about upcoming changes to the WOSB certification process and how to stay WOSB Ready check out this pagefor the most up-to-date information.
Mentorship and training through the SBA
Women entrepreneurs can also benefit from business education and counseling provided by SBA resource partners, including Women's Business Centers(WBCs). WBCs offer a variety of services specifically tailored to the needs of the communities they serve, including training in finance, management, and marketing.
Take full advantage of the SBA’s resources for women-owned businesses by connecting with your local WBCtoday. We look forward to supporting your goals and helping you achieve unchartered successes.