Fewer Federal Contracts for Women-Owned Businesses: Report
BY Liyan Chen
U.S. government contracts to women-owned small businesses declined faster than awards to their male counterparts.
Despite lofty goals and high-profile initiatives, the federal government is reportedly awarding fewer and fewer contracts to women-owned businesses.
The number of federal contracts awarded to women-owned businesses dropped to about $16.4 billion in the fiscal year that ended Sept. 30, down 5.5 percent from $17.3 billion in fiscal 2011, reported Bloomberg. Awards to men-owned small firms declined also, but only by 4.1 percent to $80.9 billion.
Women-owned businesses captured about 3.2 percent of the total eligible contracts, according to federal procurement data.
“Women-owned small businesses are at the very bottom of the food chain,” said Jeanne Peck, chief executive officer of Nash Locke LLC, an information technology company based in McLean, Virginia, to Bloomberg News. “They often have to fight for the scraps of subcontracts.”