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New SBA Rule Ups Opportunities for Women-Owned Small Businesses

Business-Women-SmallThe 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.

The public is allowed to submit comments to the rule until May 3 of this year. Comments may be submitted to www.regulations.gov. For details regarding the new rule, click here.

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  1. The U.S. Women’s Chamber of Commerce has posted a list of the 83 industries (which is actually several hundred NAICS codes) here – http://www.uswcc.org/wfpp/

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