The WOSB Federal Contract Program provides greater access to federal contracting opportunities for women-owned and economically-disadvantaged women-owned small businesses. This program allows contracting officers to set aside specific contracts for certified women-owned small business (WOSB) concerns and economically disadvantaged women-owned small business (EDWOSB). This new initiative will help federal agencies achieve the existing statutory goal of a minimum for five percent of federal contracting dollars being awarded to WOSBs and EDWOSBs.
To qualify for these new changes a company must be at least fifty-one percent owned and controlled by one or more women, and primarily managed by one or more women in order to be classified as a WOSB. In addition, the women must be U.S. citizens and the business must fall into a Small Business classification.
WOSB Program focuses on 83 NAICS codes where WOSBs are underrepresented according to data. Contracting officers may set aside contracts in these industries if the contract can be awarded at a reasonable price. The contracting officer has an expectation that two or more WOSBs will submit offers for the contract and the anticipated contract price is not greater than $5 million for manufacturing contracts and $3 million for other contracts.
The Equity for Contracting for Women Act followed up on their assertion in 2000 aimed at giving 5% of federal government contracts and award dollars to their constituency. This program aims to designated 83 NAICS codes underrepresented by WOSBs. This fresh data shows that strides are indeed being made, with the data showing an upward trend since 2000. This legislation also allowed for an economically disadvantaged women-owned small business (EDWOSB) designation formed in 2010.
The EDWOSB differs from a WOSB in that its owner(s) and controller(s) are economically disadvantaged. The EDWOSB companies have a certain number of contracts solely for their use while they can also compete for WOSB organizations.
BidPrime, an industry leading government lead generation organization, has seen a dramatic spike in the number of WOSB member companies subscribing to their service. The majority have been experiencing amazing success in obtaining federal government contracts. BidPrime has seen a 185% increase in the number of clients belonging in the WOSB classification in the past six months, and their successes at the Federal level are trickling down into state and municipal contract success.
Considering the time it took in making these monumental strides, the WOSB sees no sign of these numbers abating as 2014 approaches. This shines a beacon of light for all companies registered with the U.S. Small Business Administration to expect more changes benefiting their constituency in 2014 and beyond. The SBA (Small Business Administration) continues to be the prevailing factor in helping spread the wealth springing from government contract work.
To see more about bids / RFPs directed to WOSB, call us at 888.808.5356 or visit BidPrime.