Women-owned small businesses (WOSBs) can now be awarded sole-source contracts by federal agencies, following the recent passage of a new rule by the U.S. Small Business Administration (SBA).
"Women-owned businesses are growing three times faster than their counterparts, yet the federal government has not achieved its goal of awarding 5 percent of federal contracts to women. By granting contracting officers this new authority to award sole-source contracts to women-owned businesses, SBA is taking a major step forward in leveling the playing field and supporting our country’s dynamic female entrepreneurs," said SBA Administrator Maria Contreras-Sweet.
The new rule will take effect on October 14th.
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