Boosting Federal Contract Opportunities for Women-Owned Small Businesses.
This Act raises the federal contracting goal for women-owned small businesses from 5% to 7%, aiming to increase their market participation. It establishes new, dedicated contract vehicles and streamlines procedures for government agencies to award contracts to these firms by reducing bureaucratic hurdles. To count toward the new goals, businesses will need formal certification rather than relying on self-certification.
Key points
The federal contracting goal for women-owned businesses increases from 5% to 7%, expanding market access for female entrepreneurs.
Creation of exclusive, long-term federal contracts (IDIQ) specifically for women-owned small businesses.
Streamlining the process for awarding sole-source contracts to these firms by waiving certain justification requirements, speeding up procurement.
Contracts will only count towards the new goals if the business is formally certified, phasing out self-certification for tracking purposes.
Status:
Expired
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