Women's Business Booms, But Federal Contract Growth Is Slow
Business is booming for American women. They hold majority ownership of 7.7 million small businesses and, including co-ownerships with men, own 10.4 million, or nearly half of all businesses, according to the Center for Women's Business Research. Employing almost 13 million and producing $1.9 trillion in sales, these businesses have grown almost twice as fast as all firms in the past decade, according to the U.S. Small Business Administration. "Women business owners are prospering," says the author. Yet the women's could use a vital fuel additive: lucrative federal contracts. Getting them almost ensures a firm's growth and longevity. But winning them hasn't been easy for women, despite a boom in federal spending and Congressional attempts. to address a dramatic disparity.