Federal business council
Federal business council
The federals, council state and local government agencies all over the United States are intending to practice business with women-possessed firms with considerable eagerness. Among the main causes is that women-possessed firms in the U.S. are developing in an incomparable rate.
The federals government, in addition to several states and local government agencies, keep up aims concerning the arrangements they target for women-possessed businesses. The federals government’s aim is 5% of the more than $300 billion in federal arrangements which arise to $15 billion in business opportunities that should be attained by women-possessed firms. This is both estimable news and defective news. The defective news is that this aim has never been attained. The estimable news is that there is a more considerable chance today than ever before for women-possessed firms to undertake and get arrangements in the government market.
It’s a significant time for effective opportunities since the SBA has eventually released the Federal business council planned rules to carry out the formal women’s federal procurement plan which was business authorized as law over five years ago, but never been ordained. This crucial program offers an aimed choice to allow federal contracting officers to “set-aside” specific procurements for women-possessed businesses. This establishes an incomparable chance for stipulated women-possessed firms to jump-start their government contracting business.
Can women-possessed business manage these opportunities? The respond is surely yes. A new study by the Office of Advocacy of the U.S. Small Business Administration (SBA) claims that women-possessed firms expanded virtually 20 % throughout the latest period contemplated. During the five years between 1997 and 2002, Federal business council women-possessed firms developed by 19.8 % while all U.S. firms developed by 7 %.
The study Federal business council applies newly released U.S. Census and other information to identify women’s contributions to the economy. Statistics reported in the study comprise:
* In 2002, women possessed 6.5 million or 28.2 % of nonfarm U.S. firms. More than 14 % of these women-possessed firms were employers, with 7.1 million workers and $173.7 billion in yearly payroll.
* Due to 2002 data, considerable rates of women-possessed businesses were in professional, scientific, and technical services, and in health treatment and social support.
A different interesting statistic from another Federal business council establishment, the Center for Women’s Business Research claims that:
* Businesses Federal majority-possessed by women of color have developed six times rapider than all U.S. firms between 1997-2004. The number of firms expanded by more than half (55%), number of employees expanded by virtually two-thirds (62%), and yearly sales revenue expanded by virtually three quarters (74%).
Firms possessed by women have the awareness and capacity to work effectively in the government market. Usually their most considerable obstacles are getting instructed about how to get into the market and working within Federal business council government procedures, rules and regulations. There is a range of establishments that are starting to assist women-business proprietors tackle this Federal lucrative market such as the SBA and the National Women’s Business Council. It is an intricate issue, but actually valuable enough to undertake!
