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Women business participation on federal contracts hits record high

In 2015, the federal government exceeded it's annual women business contracting goal of 5 percent for the first time since it's establishment of the Women-Owned Small Business (WOSB) program.

During the fiscal year, 5.05 percent - an all-time high - of all eligible federal small business spending went to WOSBs, which in real terms equates to $17.8 billion of contract awards.

"Meeting this goal means five percent is no longer our ceiling but our foundation upon which to build," said Maria Contreras-Sweet, Administrator for the U.S. Small Business Administration (SBA).

The federal government also awarded a record number of contract dollars to small businesses. For the third straight year, the government surpassed its 23 percent small business procurement goal, with 25.75 percent - or $90.7 billion worth - of contracts going to these firms.