Women-Owned Businesses Fueling Employment

WOMEN’S BUSINESS ENTERPRISE NATIONAL COUNCIL: WBENC

According to the Center for Women’s Business Research 2009 study, “the economic impact of women owned business in the United States, there are an estimated 8 million US business -currently 51% women owned with an economic impact of $3 trillion annually and job creation or maintenance of more than 23 million jobs-16% of all US jobs”.

The Federal Government established a 5% goal for procurement with women-owned businesses in 1994. As of 2008 the actual expenditures for Federal contracts awarded to WOSBs was $14.7 billion or 3.4% against a goal of 5%. The difference between current performance (3.4%) and the goal (5%) represents approximately $6.9 billion in contracts annually, which would significantly support the growth of women owned businesses.

Why is it important that the Federal Government reach and possibly exceed the 5% goal with women owned companies? It’s all about employment.

By 2018 the Bureau of Labor Statistics projects that small businesses will create 9.7 million new jobs, with approximately 5 million to 5.5 million of those being created by women owned businesses. This represents over half of the new jobs in the small business sector and one third of the total new jobs that will be created nationwide over the next eight years.

Supporting small and woman-owned business is important to our nation’s job growth and economy.

Asocia Group is a Woman-Owned Enterprise (WBE), and has been WBENC certified since 2007 by the Greater Women’s Business Council(GWBC).

We are committed to fostering diversity and supporting other diversity and woman-owned businesses.

Asocia Group’s commitment to diversity:
www.asociagroup.com/WBENC