Though women have been making progress towards the gender gap, there is still areas for improvement. It is a fact that women are far less likely to land Federal contracts compared to their male counterparts. The federal contracting process is a $600 billion industry, but it’s not so kind to first time bidders.
Federal contracts are mostly in the construction industry which is heavily occupied by males. Although women now own 38% of all small businesses, only 5% of federal contracts are won by women. To combat this, the national infrastructure package is said to help break down the barriers for women business in federal contracts.
Women Can Help First Time Bidders For Federal Contracts
As women continue to tackle the equality issues in the federal contract market, a good outcome is likely to come. This outcome includes top problems that need addressing when it comes to bidding for the first time for federal contracts. When it comes to landing federal contracts, there are a few barriers to entry.
- Preparing bids have high costs
- Lack of transparency in the federal contract process
- Large gender gap
- First time bidders are less likely to be considered
Lack of Growth In Women Federal Contract Wins
Many women equality issues have made exponential progress within the past years. But that does not include the federal contracts that are offered year-round. Since the 1980s, women owned businesses only secured around 1% of federal contracts. Now it is nearly 5%, that does not seem like much progress over the last 50 years.
After the government was aware of this issue, the SBA started a program that was designed to help women have access to more federal procurement dollars. This new goal from the SBA ensured at least 5%, which they managed to achieve twice in the past 30 years.
Now, there are some things in change from the Biden and Harris administration. One including the Women-Owned Small Business Federal Contracting Program. This program will specifically target women for contract jobs, though it might not be as big as the large contracts given to men.
How To Win Federal Contracts
The small business federal contracting available from the SBA is a great resource. They can teach you how to win federal contracts and even offer some assistance programs. The first step into winning contracts is to find the best contract for you. You may find contracts by using the dynamic small business to search for other businesses to collaborate with.
Signing up for SAM (System for Award Management) is a critical step towards winning federal contracts. On SAM, you can create a business profile that other government agencies will be able to see.
More Subcontracting Opportunities
There is a website called SubNut that hosts a large database of subcontracting work requests by large contractors. These large contractors often pick up a gig where they will need to supply for staff, thus leaning towards small businesses. This is a competitive area but small businesses quickly build their companies by working for larger contractors.
Click here to visit SubNet
For women, it is far more difficult to win federal contracts. Although there have been small improvements in the space, women and first time bidders are still shunned out of opportunities. The current administration has noticed this problem and is now focusing on the gender gap issue. It is no surprise that federal contracts are more likely to hire men than women, but things might change!