FOR IMMEDIATE RELEASE
December 2nd, 2021
Elle Patout ([email protected])
Biden-Harris Administration Announce New Federal Contracting Commitments to Small Disadvantaged Businesses
Today, the Biden-Harris Administration announced new commitments to small disadvantaged businesses. Per the announcement, the federal government will increase federal contract spending towards small disadvantaged businesses by 50% by 2025, translating to $100 billion over the next 5 years. To learn more about the Administration’s commitments, visit the factsheet here.
In addition to increased spending towards small disadvantaged businesses, the government will, for the first time, disaggregate data for federal contracts by race/ethnicity. Not only will this result in more transparency in federal contracting, it will also provide organizations such as NAWBO with the data that it needs to properly advocate for small disadvantaged businesses, including those owned by women. The commitment also calls on all federal agencies to increase their goals so that governmentwide spending results in 11% of all contracting dollars going towards small disadvantaged businesses, up from the current goal of 5%.
The National Association of Women Business Owners is encouraged by the Administration’s efforts to ensure that more small disadvantaged businesses have access to crucial federal dollars and to a more even playing field in the federal contracting process. “The COVID-19 pandemic has challenged the resiliency of women business owners and federal contracts are an important source of revenue for many businesses in recovery. We are pleased to see that the Administration is taking steps to ensure more small disadvantaged businesses have access to federal contracts.” NAWBO Board Chair Cristina Morales Heaney said of the announcement.
The commitments announced today are a follow up to the Biden-Harris Administration’s announcement in June to increase federal contracts to small disadvantaged businesses. You can read more about the June announcement here.
Founded in 1975, NAWBO is the unified voice of America’s more than 10 million women-owned businesses representing the fastest-growing segment of the economy. NAWBO is the only dues-based organization representing the interests of all women entrepreneurs across all industries. NAWBO develops programs that help navigate women entrepreneurs through the various stages of their business growth. To learn more, please visit www.nawbo.org.