SBA Finalizes Rules To Help Female Entrepreneurs
Written by Jenna Weiner
Business organization works to give 5 percent of all government contracts to female entrepreneurs
In the most recent small business news for women, the U.S. Small Business Administration has finalized rule changes seeking to get more government contracts in the hands of female entrepreneurs.
The SBA's Women-Owned Small Business rule, which was first introduced in February 2010, highlights 83 different industries in which women are not equally represented. The rule hopes to achieve the goal of getting 5 percent of all government contracts to women-owned businesses. SBA Administrator Karen G. Mills said that the rules would help women achieve the success they have been working for.
"Women-owned businesses are one of the fastest-growing sectors of our nation's economy, and even during the economic downturn of the last few years, have been one of the key job creation engines in communities across the country," said Mills. "Despite their growth and the fact that women lead some of the strongest and most innovative companies, women-owned firms continue to be under-represented in the federal contracting marketplace."
Mills was in the news in recent weeks when she announced the SBA's Program for Investment in Microentrepreneurs. The program will give loans to low-income entrepreneurs who may not otherwise have access to funding.
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