This program is currently being drafted by the SBA
In 2008 the amount of Federal Spending was $537 billion dollars. The Federal Governments goal was to spend at least $26.8 billion dollars with Woman Owned Small Businesses or WOSB. The result was far from this goal at $14.7 billion dollars in expenditures or 2.7% of the Federal Budget. This problem is further exasperated by the fact that women own approximately 30% of the small business concerns in the United States however account for less than 3% of Federal Spending. There were approximately 75,000 WOSB firms registered in the Central Contractor Registry and out of that grouping only 26,000 WOSBs were awarded contracts in 2008. The SBA determined that additional help was needed for Woman Owned Small Businesses if their participation was going to reach the 5% goal of the Federal Government.
The SBA then conducted an analysis to see what industries were historically under represented by woman owned small business. The result was 45 NAICS codes were WOSBs were under represented and 38 NAICS codes where WOSBs were substantially underrepresented. These are the target industries that the Federal government will give women owned small business special consideration for government contracting opportunities.
Approximately 12,000 woman owned small businesses are active in these NAICS codes and should seek certification based upon the 83 NAICS codes in which WOSBs would be eligible. The 8m certification will allow for a new grouping of set-a-side contracts for women in the amount of $5 million dollars for manufacturing and $3 million dollars for other contracts.