The U.S. Small Business Administration proposed a new rule that would expand federal contracting opportunities for the women-owned small businesses. The goal is to provide women-owned small businesses more opportunities to get federal contracts.
In the SBA press release announcing the new rule, SBA Administrator Karen Mills said, “Women-owned small businesses are one of the fastest-growing segments of our economy, yet they continue to be underrepresented when it comes to federal contracting.”
The rule entails setting aside 5 percent of federal contracting dollars for women-owned small businesses. This new rule stems from the identification that women-owned small businesses are underrepresented in 83 industries.