Elected officials form the city, state and federal levels team up to push legislation expanding access for women-owned small businesses. Photo courtesy Congresswoman Meng
Borough leaders from all levels of government joined together in Queens this week on behalf of female-owned small businesses.
Had the federal government met its existing goal of awarding 5 percent of federal contracts to women-owned businesses, that category of entrepreneurs would have received an estimated $56 million more in economic revenue last year, elected officials said.
That was why U.S. Rep. Grace Meng (D-Flushing), U.S. Sen. Kirsten Gillibrand (D-NY), state Sen. Toby Stavisky (D-Flushing), state Assemblywoman Nily Rozic (D-Fresh Meadows) and City Councilman Mark Weprin (D-Oakland Gardens) all teamed up in Fresh Meadows Monday to push new legislation that would expand access for women-owned businesses seeking out federal contracts. The officials said it would level the playing field for hundreds of city businesses.
“Small businesses are what drive the economy here in Queens and across the nation; and women-owned companies play a major role in making it prosper,” Meng said. “It’s time to knock down the barriers that for too long have blocked female entrepreneurs from doing more business with the federal government. Women-owned businesses have just as much right to federal contracts as all other businesses do.”
Women-owned businesses are one of the fastest growing sectors of the economy – nearly 30 percent of all Queens firms are owned by women, according to the latest Census data – but they are systemically shortchanged in terms of being able to access the market of government contracting. More than two decades ago, Congress set a goal of awarding 5 percent of federal contracts to women-owned small businesses.
“Small businesses are the backbone of our economy and the most powerful job creators we have,” Gillibrand said. “And the fact is, women are the primary income earner for a growing share of homes across America. The key to a growing economy, and the key to an American middle class that is built to thrive in the 21st century is women. When we equip more Queens women entrepreneurs with the access and opportunities to achieve their best in the economy, and their best for their family, that’s when America’s middle class will thrive again.”
Last year, nationwide, women-owned small businesses once again fell short of that goal with only 4.3 percent of contracts awarded. Across New York City, it was even lower, according to data from Women Impacting Public Policy, at an anemic 1.48 percent of all federal contract dollars. If women-owned businesses had received the existing 5 percent goal, city women-owned small businesses would have grown their revenue by approximately $56 million.
“Equal opportunity for women entrepreneurs is crucial to maintaining small businesses and the growth of our economy,” Rozic said. “With more women entering the workforce and often becoming the primary source of income, we must provide them with the resources they need to ensure success. This legislation would improve the lives of Queens women who own small businesses and encourage young women to start businesses of their own.”
By The Forum staff
