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FOR IMMEDIATE RELEASE
August 17, 2010
Los Angeles, California-Thursday morning, small business owners left this city after a three day, General Services Administration-sponsored (GSA) conference designed to educated and encourage small business participation in federal contract procurement. Small businesses, particularly those owned by minorities, veterans, and women, remain noticeably absent from the bidding process on federal contracts.
Last month’s passage of the Dodd-Frank Financial Reform Bill, and its far-reaching Provision 342 mandating the creation of an Office of Minority and Women Inclusion (OMWI) at each federally regulated financial institution, outside the GSEs, further enhances the prospects of small, disadvantaged businesses seeking federal sub- or prime contracts.
In attendance, The National Association of Women in Real Estate Businesses (NAWRB) continues its efforts to raise awareness of this little-known provision by raising questions and driving discussion toward the issues facing women business owners.
One theme consistently highlighted throughout the conference was the importance of business certification, a point NAWRB constantly emphasizes through its certification assistance program. Certifying a business as woman-, minority-, or veteran-owned is one of the key, initial steps to doing business with the federal government.
Another trend highlighted throughout is the location-specific designation known as HubZone, or Historically Under-utilized Business Zone. Business enterprises based in designated areas receive preferred access to federal contracts and move to the front of the line, trumping other disadvantaged businesses seeking to do business with the federal government. To quote one panelist, “…the hierarchy is Hub, minority, women, and then veteran-owned businesses.”
ABOUT NAWRB
The National Association of Women in Real Estate Businesses (NAWRB) is a leading voice for women in housing. NAWRB is dedicated to providing women the tools and opportunities for economic expansion and growth, while advocating and promoting women-owned businesses specializing in the housing economy.