Seems the Small Business Administration is taking a hit from Congress in its efforts to boost women owned companies. Currently only 3.4% of the federal contracts are now given annually to female owned companies. The goal has been to bring that number up to 5% but the senators are complaining that the current draft only recognizes 4 out of 313 business categories that are eligible for these contracts. To be eligible, the business category must be considered one in which females are under represented. These categories include engraving and cabinetmaking.
The senators say there must be many more business categories in which female owned companies are under represented. I have to agree here. I have not looked into the details of the 313 business categories but I’m guessing those that deal with automotives and contracting could be included, as could a slew of others.
Read the article and leave your thoughts! I’d love to hear what you have to say on this topic!