Bridging the Gap: Empowering Women Entrepreneurs to Leverage Federal Women-Owned Small Business Programs

The federal government is a massive buyer of goods and services, with its expenditures amounting to hundreds of billions of dollars. For women-owned small businesses, this presents a colossal opportunity to showcase their expertise and secure lucrative contracts. However, despite the vast potential, recent data reveals a concerning trend. There is a steady decrease in the number of small businesses contributing to the federal procurement small business goal of 23%. 

Goldman Sachs’ recent survey of nearly 900 women-owned small businesses revealed some alarming statistics. A staggering 99% of the women entrepreneurs felt that federal programs were failing to adequately support women in business. Additionally, the survey showed that there has been a decline in the number of women securing contracts from the government. The women entrepreneurs further expressed their frustration with the cumbersome certification process, which raised the question of whether it was worth their time and resources to pursue federal contracting opportunities.

Navigating the federal registration and certification process can be a major hurdle for small business owners. In fact, a majority of our students at the Women’s Entrepreneurial Opportunity Project (WEOP) admitted to not knowing that registering their businesses into the System for Award (SAM) was a mandatory requirement in applying for the Small Business Administration’s Women-Owned Small Business Certification program. Moreover, they expressed facing difficulties in completing the SAM registration process and often found it challenging.

Recognizing the challenges faced by women entrepreneurs in navigating the federal procurement process, WEOP has developed the “Prime Time” Contracting program.  It is extremely important for women to learn from other experienced women who understand the challenges; share their experiences and who can provide support and invaluable insights. It creates an ecosystem of support, encouraging women to network, team with each other on contracts, and get insider strategies on how to take full advantage of the federal business opportunities available to them. 

Our Approach: Empowering Women with Information as a Critical Strategy to Get Women Closer to Contract Opportunities 

Federal contracting is more than just a revenue opportunity for women-owned small businesses, it can be a game changer for women entrepreneurs, offering prime subcontracting opportunities that can increase their revenue. While the process and programs may seem daunting, investing time to understand them will yield improved results. With knowledge comes power, thus the key to unlocking these opportunities lies in understanding the process and programs involved. 

The good news is that specialized training approaches, such as those provided by nonprofit organizations like WEOP, have proven successful in increasing the success ratio for women acquiring contract opportunities. The federal government alone cannot be the end-all solution to this issue, but organizations like WEOP can be strategically viable community partners in supporting women in business. We have also discovered that Women thrive when working with other businesswomen, and in the process, this helps to demystify the complex federal contracting process, making it more understandable or relatable. 

Success stories abound for women seeking to explore the federal contracting space. Candace Spears, Founder & CEO of Floor 23 Digital, is one such example. Within just four months of undertaking WEOP’s Prime Time course, she was selected as one of the vendors on a $175 million IDIQ contract opportunity with the National Aeronautics and Space Administration (NASA). Her story is just one of many that illustrate the potential of federal contracting for women-owned small businesses. Michelle F. Anthony, President of Anthony & Associates, Inc., is another successful Federal Contractor who serves as an inspiration to women all over the world. A veteran, we were truly honored to have her as a speaker at our recent event.

The future is bright for women in federal contracting. Let us work together towards a more inclusive and equitable industry, ensuring women understand the process, know how to leverage their certifications, are connected to opportunities, and can win. As women of color, we need to collectively take the initiative, educate ourselves, and take control of our situations to ensure we all have an equal shot at success in federal contracting opportunities. Let us continue to strive to create a level playing field for all women to thrive in this space.