WASHINGTON ( TheStreet) -- The U.S. Small Business Administration is encouraging more women small-business owners to apply for federal contracts.The program, called the Woman-Owned Small Business Federal Contract Program, was officially launched today, but has been in the works for several years -- and arrives just as House and Senate committees on small business have launched a critical look at administration programs, hoping to cut its budget and save money.
|Women-owned businesses and economically disadvantaged women-owned businesses must get 5% of federal contracting dollars, according to a go.|
- Be at least 51% owned and controlled by one or more women and considered "small" by to SBA size standards. The owners must be U.S. citizens.
- A woman must manage the day-to-day operations, make long-term decisions for the business, hold the highest position at the business and work there full time.