The Costco Connection - January 2014

IN TWO SHORT YEARS, the Small Business Administration’s signature program to boost women contracting is enabling female business owners to stand out from the competition and access more contracting opportunities than ever before. A new survey by American Express OPEN reveals that two-thirds of women-owned firms ( 67 percent) find the women-owned small business (WOSB) certification useful in seeking contracting opportunities. This is up dramatically from 37 percent who found the certification useful two years ago.

Now in its third year, the report—

Women-Owned Small Businesses in Federal Procurement: Building Momentum, Reaping Rewards—provides an in-depth view of WOSB federal contractors.

Additional findings from the report:

• Women contractors are more likely to have a special procurement designation or certification for their business. The most likely certification that women-owned businesses have is getting on the U.S. General Services Administration Schedule, which 23 percent of

employee feedback on what will help them deliver better results for the brand and customers. Follow through and take action on their requests.

Light the path. Make the case that your business should be seen as not just a job, but a place to have a career. Communicate to employees about the opportunities for growth within the brand and establish programs that guide high performers along a path that helps them to reach high status, responsibilities and compensation in the organization.

Always be canvassing. Managers should be able to articulate their ideal employee profile. Create a workforce with your ideal work ethic by identifying and reaching potential employees, communicating benefits to potential employees and enticing high-performing employees to identify others similar to them and communicate the brand promise.

For more information, go to www. ericchester.com.

women contractors have done.

• Women contractors are still investing less than men contractors. In 2012, women-owned firms spent $112, 112 pursuing federal contracts, compared to the $137,040 investment made by men-owned firms.

• Female contractors are newer to the marketplace. On average, active small-business contractors have been in the federal procurement marketplace for 9. 2 years, while female contractors have been pursuing contracts for an average of 8. 2 years.

To read the report, go to www.women able.com and search “WOSB contracts.” C

FRESHviews
Enabling women
business owners

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