The federal government has finally reached its goal of awarding 5% of the money it spent on contractors to businesses owned by women, a goal originally set in 1994. About $17.8 billion of $90.7 that the Small Business Admin has awarded went specifically to women-owned businesses that are at least 51% controlled by women. The S.B.A has extended it aid to other sectors as well. They have begun to teach women entrepreneurs about federal procurement opportunities and they help guide them through the process of preparing bids. While there is still a long way to go, this represents a landmark achievement for the business world.
NY Times, Stacy Cowley, 3/3/16
This is an interesting article. I'm glad to hear that the SBA has achieved a goal they have been striving for since 1994. Furthermore, it is intriguing to see that they have started to teach women entrepreneurs and help guide them through these important processes.
ReplyDeleteI'm curious as to what were the agents of change, outside of federal procurement opportunities, that made this five percent increase possible. Upon research, I found that according to the 2007 Census, 28.7 percent of nonfarm businesses were owned by women as opposed to 13.6 percent, fittingly in 1994. This progress does seem substantial, though I agree, the trek ahead remains lengthy.
ReplyDeleteThis article seems very interesting to me because it shows huge strides in the role that women are able to take in business today. It is unfortunate that this goal was set in 1994 and was not reached until just now, but at least it shows some progress overall. In the 21st century, women are definitely playing an important role in the economy since they have jobs outside of the household and therefore increase the labor participation rate.
ReplyDeleteIt's really good to see that women are gradually traded fairly in business field. However, at the same time I'm considering the problem of bias to women. I notice that they have begun to teach women entrepreneurs about the federal procurement opportunities and they help guide them through the process of preparing bids. This is a way to improve labor quality and, as we talked in class, increase the "A".
ReplyDeleteI think It is great that we are are taking steps to improve gender equality in the workplace. I think this shows how long it can take to really make changes and while it's a little discouraging that this goal was set in 1994 I think this is definitely a positive step in the right direction. While gender equality and the women's movement have come a long way, it definitely has a long ways to go and it is great to see continuous progress and change.
ReplyDeleteWhy did it take so long to implement a policy that was set in 1994? Also, why was their goal only set at 5%? I believe women should certainly receive more than 5% to businesses owned by women.
ReplyDeleteI completely agree with Charlie on this one. Although, it is no doubt wonderful that this goal was finally reached. It is outrageous that it took over 20 years when 5% is such a small number. I am also worried that now that this goal has been reached that the federal government will decrease their efforts towards equality and leave it at that. Hopefully, a new, much higher goal will be set to continue the drive.
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