The Small Business Administration has unveiled a program called the Women-Owned Small Business (WOSB) Federal Contract Program that will give women-owned small businesses more access to federal contracts. For the first time, federal contracting officers will be able to reserve contracts for small businesses owned by women. The program is designed to help federal contractors meet their goals of putting 5 percent of federal contract money in the hands of women-owned small businesses. The program also includes women-owned small businesses that are economically disadvantaged. For businesses to qualify, the women must be citizens of the United States, and the companies must meet the SBA's definition of small. To be eligible, firms must be 51 percent owned and controlled by women and be managed mainly by women. The first contracts could be awarded by the fourth quarter of 2011.
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