Women-Owned Business Final Rule Issued for Government Contracts
The SBA has finally published its Final Rule to implement procedures authorized by the Small Business Act to assist women-owned businesses compete for federal government contracts. It is anticipated that the program will be in effect early 2011. The Final Rule is attached.
The federal government has established a goal of awarding 5% of its contract dollars to women-owned small businesses. Individual government agencies determine on an annual basis their small business goals. This program provides a mechanism for government agencies to set aside a contract for woman-owned small businesses (WOSB) or economically disadvantaged woman-owned small businesses (EDWOSB) in certain industries, designated by NAICS code. There are 83 NAICS codes eligible under the program, including residential building construction, specialized freight trucking, lessors of real estate, architectural, engineering and related services, facilities support services, special food services, and automotive repair and maintenance.
If you are a business or organization engaged in the industries covered and who may qualify as small, women-owned businesses, this program may be of interest to them. The Maritime Law and Government Contracts Practice Group can help them with the qualification process and with establishing business practices to ensure compliance with the numerous government regulations pertaining to government contracts.