Jamie Bennet
Ninety-nine percent of female small business owners who responded to a Goldman Sachs survey said they believe the U.S. government needs to improve efforts to support women-owned enterprises and 72 percent rated the effectiveness of federal programs and services for them with a “C” grade or below.
The global banking investment firm polled 898 WOSBs from Feb. 22 to 27 across 47 states and Puerto Rico as part of its “10,000 Small Businesses Voices” initiative.
Goldman Sachs found that 89 percent of respondents saw an uneven playing field between female- and male-owned companies, while 58 percent of those who completed the government certification program expressed difficulty when applying for the Women-Owned Small Business Federal Contract.
Created in 1994, the Small Business Administration-run WOSB program aims to provide entrepreneurs greater access to contracting opportunities and to help agencies meet the government’s goal of spending at least 5 percent of contracting dollars on such companies.
Non-certified respondents in the survey said they were either not aware of the program, not impressed with its benefits, or found the application process too time consuming.
Goldman Sachs is using the findings to urge Congress to approve Small Business Administration reauthorization and reform.
