New Groundbreaking Survey Delves Deep Into State of Diverse Business Contracting

Dec 19, 2023 | Partner News

In collaboration with Reimagine Main Street and 13 leading business organizations, NAWBO has delved deep into the state of diverse business contracting with a groundbreaking survey of more than 1,900 diverse business owners across the country. Our findings are not just data points—they are a testament to the potential within our community of women business owners.

For instance, 75% of women-owned businesses surveyed reported that corporate and government contracting were both critical to their business strategy. This isn’t just a statistic; it’s a narrative about the contributions and potential of women-owned businesses to generate growth, create jobs and meet needs of corporate and government buyers.

Deeper insights include:

  • Redefining Capacity: Our survey reveals that a notable segment of women-owned businesses isn’t just participating in contracting—they’re excelling at it, generating substantial revenue from contracting. They compete today and they win. Most of these businesses have the capacity for more contracts.
  • Strategic Growth: Corporate and government contracting emerges as more than a revenue source; it’s a strategic growth driver for these businesses.
  • Navigating Challenges: We also confront the stark realities—systemic challenges and network limitations that women business owners face. Women-owned small employers, for example, are least confident in their ability to access capital, with just 14% of surveyed businesses confident on net. But within these challenges lie opportunities for growth, innovation and systemic change.

As implementation of the “Investing in America Agenda” fuels record public and private sector investments in infrastructure, clean tech and the reshoring of advanced manufacturing, we see an unprecedented opportunity. These are not just industries; they are avenues for women-owned businesses to lead, innovate and contribute to the economy.

Our Vision: This moment is potentially transformative. The survey’s findings are a call to action, emphasizing the need for strategic engagement to create a more equitable playing field.

Your Voice Matters: Read the survey findings and share your thoughts on how we can further support women business owners in navigating and succeeding in this dynamic environment. Let’s work together to turn these insights into action and pave a better path for women business owners.

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