Women-Owned Businesses Drive Major Advances in Federal, State, and County Government Procurement

ORLANDO, FL, UNITED STATES, June 3, 2024 /EINPresswire.com/ -- Over the past year, there has been notable progress in the involvement and achievements of women-owned businesses in federal government contracting, highlighting significant strides in gender diversity and empowerment within the business sector.

Recent data from the Small Business Administration (SBA) indicates a substantial increase in both the number of women-owned businesses participating in federal procurement and the value of contracts they have secured.(1) This upward trend reflects growing recognition of the pivotal role women entrepreneurs play in fostering economic growth and driving innovation.

Key Highlights:
1. Expanded Participation: The number of women-owned businesses registering for federal contracts has seen a double-digit percentage rise compared to previous years. This growth is attributed to enhanced outreach programs and initiatives aimed at educating and supporting women entrepreneurs through the federal procurement process.
2. Contract Awards: Women-owned businesses achieved a record-breaking $30 billion in federal contracts in 2023, marking a 5% increase from the prior year. This figure represents the highest dollar amount ever awarded to Women-Owned Small Businesses, showcasing the efficacy of policies and programs aimed at leveling the playing field and offering equal opportunities for women in business.
3. Strategic Support Programs: Initiatives like the Women-Owned Small Business (WOSB) Federal Contracting Program have been pivotal in facilitating access to federal contracts. These programs provide targeted support such as mentorship, training, and networking opportunities, proving instrumental in the success of women entrepreneurs.
4. Economic Impact: The heightened participation and success of women-owned businesses in federal contracting carry significant economic implications. These enterprises contribute to job creation, innovation, and economic diversification, underscoring the importance of empowering women entrepreneurs across all sectors.

Aligned with these advancements, FedProfits’ own Ron Imbach, also known as Mr. Supercharged Profits, will address LeaderHERship Global on the extensive opportunities available to women business owners in the federal sector. His presentation entitled “Supercharge Profits Through the Power of No-Bid Federal Contracts” will explore topics including NO-Bid Federal Contracting, minority set-asides, and collaborative opportunities. Join Ron Imbach on June 4th at 11am ET for an enlightening session on navigating and thriving in the federal contracting landscape. Register for the presentation at https://api.leadconnectorhq.com/widget/form/bGA90dbEe4JmTgE3IoBw

(1) https://www.sba.gov/article/2024/04/29/biden-harris-administration-awards-record-breaking-178-billion-federal-procurement-opportunities#:~:text=Women%2Downed%20Small%20Businesses%20(WOSB,the%20FY23%20total%20eligible%20dollars.

Danna J Olivo
MarketAtomy LLC
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