Now that the WOSB/EDWOSB contracting goal is uncapped there is really no excuse why these businesses shouldn’t become registered.With $500 billion going to federal contracts every year, this is a huge incentive for WOSBs to become properly registered.
Orlando, FL (PRWEB) May 02, 2013
President Obama signed into effect the National Defense Authorization Act of 2013, which now provides limitless contracting dollars to women-owned small businesses (WOSB) and economically disadvantaged women-owned businesses (EDWOSB). The original policy previously capped WOSB and EDWOSB manufacturing contracts at $6.5 million dollars and all other types of contracts at $4 million dollars. This new law now allows unlimited contracting funds to businesses registered in System for Award Management (SAM) as WOSBs and EDWOSBs. The United States Federal Government has mandated a government-wide goal that awards 5% of all federal contracting dollars to woman-owned small businesses (WOSB). This law was placed in the 2,200 plus page manual called the Federal Acquisition Regulations (FAR) in an effort to set-aside awards for woman-owned small businesses. This 5% goal has not yet been reached in the 12 years that it has been active. Hence, the need to motivate more WOSBs to register for government contracts.
In order to be eligible for these limitless WOSB and EDWOSB contracts, a small business must meet the following Small Business Administration (SBA) specifications to qualify:
- A business must be 51 percent owned and controlled by one or more women, and primarily managed by one or more women.
- The owner must be a U.S. citizen.
- The business must be considered to be a “small” business according to SBA’s size standards.
- The business must be economically disadvantaged, which can be determined by specific financial requirements set forth in SBA’s program regulations.
According to SBA Deputy Administrator Marie Johns, the SBA’s small business database currently has 13,000 woman-owned businesses registered, but with more outreach and promotion, there could be more registered. Third party registration firms like US Federal Contractor Registration have been assisting businesses with their WOSB and EDWOSB registration in an effort to register more businesses to meet these set-aside qualifications. With the government spending over $500 billion dollars every year on contracts, this new law should pull more woman-owned businesses into the government contracting arena. US Federal Contractor Registration, the world’s largest third party registration firm makes it easy for WOSBs and EDWOSBs by providing federal buyer contact information, government formatted website construction, and nation-wide distribution of a business’s government resume.
Eric Knellinger, President of US Federal Contractor Registration stated, “Our company outreaches out to woman-owned small businesses every single day and stresses the importance of WOSB and EDWOSB registration. Now that the WOSB/EDWOSB contracting goal is uncapped there is really no excuse why these businesses shouldn’t become registered. With $500 billion dollars going to federal contracts every year, this is a huge incentive for WOSBs to become properly registered. We can help each and every WOSB and EDWOSB become registered properly in SAM and prepared for the government contracting marketplace. Our expert staff will always be ready to answer calls and make sure your WOSB business is on the path to winning contracts and awards. US Federal Contractor Registration's goal everyday is to help the federal government reach their 23% acquisition goal in small business contracting. We want to make sure small businesses not only survive in government contracting, but thrive.”