we can help more women access and win federal contracts.” Today, the Pacific Asian Consortium in Employment
(PACE), a WBC in Los Angeles, in partnership with the Give Me 5 program is conducting training on federal contracting opportunities for nearly two hundred local and regional women business owners. A new study released by American Express OPEN exami- ning the successes and challenges among women and minority business owners in government contracting found that federal contracting can be fruitful for those business owners willing to persevere. In fact, the second report of OPEN’s groundbreaking sur-
vey of more than 1,500 business owners listed in the Federal Procurement Data System (FPDS) and registered on the CCR found that two thirds of women whose firms do business with the federal government generate more than $1 million in sales, even though it took them nearly two years, on average, to land their first contract.
Following are some of the key findings found in the report: Women and minority small business owners who are ac-
tive prime contractors are achieving success in the federal marketplace: 65% of small businesses that are prime federal contractors generate over $1 million in sales, including 63% of women-owned small business prime contractors and 63% of prime contracting firms owned by persons of color. Also, women and minority business owners took a similar period of time to land their first federal contract as overall active contrac- tor – nearly two years. Women, though nearly as successful, have not reached quite
the same high levels of contracting success as their male pe- ers: 42% of active women contractors estimate that they’ve re- ceived $1 million or more in federal contracts, including 16% who’ve won $10 million or more. This compares to 47% and 23% among active male contractors. Minority business owners have had to work much harder –
and are making a greater investment – to win federal contracts: Minority business owners report having submitted an average of 27.7 bids for prime contracts over the past three years (9.2 bids annually) versus 19.5 bids for active small business con- tractors (6.5 bids annually) and 19 bids for women (6.3 bids annually) during that same timeframe. Minority business ow- ners also invested significantly more in 2009 - $108,368 on average. In contrast, women business owners invested $70,512 while successful contractors overall invested just over $86,000 last year. Success strategies employed by women and minorities dif-
fer: For women, the GSA schedule has proven to be a fruitful route to contract success with 40% of active women-owned business contractors on the GSA schedule (versus just 33% of minority-owned businesses and 34% of all active small busi- ness contractors). For minorities, it’s all about making personal
The Black E.O.E. Journal
connections as they are far more likely than average to have attended a procurement matchmaking event (55% versus 38% of all active contractors); met with an agency OSDBU or pro- curement official (58% versus 37%); and attended an agency- led procurement seminar (58% versus 44%). Though women and minorities are equally successful once
becoming active federal contractors, both are still far more likely to be left at the starting gate: 48% of non-contractors (those that have yet to win a prime contract) are minority bu- siness owners and 39% are women. “Generating more demand for their products and services
is a top concern for business owners, and doing business with the federal government, which is the world’s largest customer spending more than $500 billion annually1
, can be an effective
way for these firms to increase revenue,” said Susan Sobbott, president of American Express OPEN. “We’re committed to helping business owners do more business, and that’s why we partnered with WIPP to create the Give Me 5 program and conducted groundbreaking research examining the challenges and opportunities associated with federal contracting.”
1 DiversityAD_qtr_pg_FINAL.qxd:Layout 1 2/12/10 10:10 AM Page
Federal Procurement Data System Source:
Businesswire.com
Diversity helps business blossom.
Medco serves the prescription needs of more than 60million Americans of every distinction. We believe that the best way to meet or exceed the expectations of our plan members is with an equally diverse network of suppliers and vendors.
If you have a certified minority-, veteran-, or women-owned business, please register at
www.medco.com.
www.medco.com
Medco is a registered trademark of Medco Health Solutions, Inc. © 2010 Medco Health Solutions, Inc. All rights reserved.
www.blackeoejournal.com 23
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100