Encouraging competition is good government, and encouraging women-owned businesses to compete expands the federal government’s pool of qualified companies. Sole sourcing contracts and using set-aside awards for WOSBs aids Contracting Officers in meeting government small business contracting goals.
Women own more than 39% of all businesses in the U.S., employ 8% of the total private sector workforce, and contribute 4.2% of total business revenues.
The number of women-owned firms has far outpaced the growth in both revenue and employment. (See Footnote 6). In a 20-year span from 1997 to 2017, the number of women-owned firms grew from 26% to 39%, while employment only grew by 1% (from 7% to 8%) and revenue declined from 4.4% to 4.2%. This indicates that more women are starting businesses, yet stalling on growth when compared with other subcategories.
WOSBs make up only 21% of the companies registered in the System for Award Management (SAM). The WOSB set-aside program is the only federal socio-economic program that is NAICS limited. Set- asides for SDVOSB, 8(a), HUBZone, and small businesses are open to any NAICS.
In 2017, the Senate Committee on Small Business and Entrepreneurship published a report. Ranking Member Senator Jeanne Shaheen summarized the challenges faced by women business owners in an introductory letter.
“…women-owned businesses still grow at a slower rate and earn less revenue than male-owned firms. In fact, women entrepreneurs face persistent institutional barriers that make achieving financial parity a serious challenge with lasting consequences.” (See Footnote 7).
A Reputable WOSB
JetCo Federal is one of many highly qualified WOSBs performing well on federal contracts. We are competitive, we earn positive CPARS, and we have built a strong, positive relationship with federal Contracting Officers and end-users in agencies. Below are examples of the WOSB program today and the limited competition within JetCo Federal NAICS codes under the WOSB program.
As of January 21, 2021, there are 94,550 WOSBs registered in SAM.
- 3,266 of these companies fall under the NAICS code 541614 – Process, Physical Distribution, and Logistics Consulting
- 1,071 of these companies fall under the NAICS code 493110 – General Warehousing and Storage
- 644 of these companies fall under the NAICS code 561910 – Packaging and Labeling Services
The NAICS codes listed above are some of the many products and services that JetCo Federal can provide to the government.
About JetCo Federal
JetCo Federal is a comprehensive resource for packaging, logistics, warehousing, order fulfillment, warehouse consumables, and everything in between. Our team excels in logistics, supply chain management, and contract administration, resulting in redundant, qualified suppliers and cost efficiencies for the government. We are a WBENC-certified WOSB as well as ISO 9001:2015 registered and NIST 800-171 compliant.
At JetCo Federal, we understand that the smallest item can have a big impact on operations. That’s why we consider every delivery a win, and we’re committed to re-winning every day. With a dedicated government sales team and over 14 years of experience selling to the government, we’re ready to fulfill your complex contracts and help you meet your small business contracting goals.
- See Public Law 106-554 for more information on the establishment of the women’s procurement program.
- Refer to the Carl Levin and Howard P. “Buck” McKeon National Defense Authorization Act for Fiscal Year 2015.
- Refer to the Office of Small Business Programs, Department of Defense.
- See www.sba.gov/wosb for information on WOSB eligible NAICS codes.
- See beta.certify.sba.gov for information on WOSB certification.
- Refer to The 2017 State of Women-Owned Businesses Report, prepared for American Express by Ventureneer.
- Refer to “Tackling the Gender Gap – What Women Entrepreneurs Need to Thrive” by the U.S. Senate Committee on Small Business & Entrepreneurship.