[ad_1]
SALT LAKE CITY — Utah Republican Congresswoman Celeste Malloy is a first-time congresswoman who is focusing on small business and reaching across politics to support women-owned small businesses.
As a member of the House Small Business Committee, Malloy introduced the WOSB Integrity Act of 2024 with Rep. Hilary Scholten, D-Mich. This bill recently passed out of committee.
In fiscal year 2022, the federal government has committed approximately $694 billion to contracts. This was an increase of about $3.6 billion from fiscal 2021, adjusted for inflation, according to the U.S. General Accounting Office. Of this $694 billion, approximately $280 billion will be designated to civilian federal agencies and $414 billion will go to the U.S. Department of Defense.
Federal agencies contract with outside companies and organizations. GAO says these contracts are used to provide products and services ranging from aircraft and software to food services and health care.
What does a woman-owned small business look like?
Malloy said the bill’s goal is to allocate 5% of private contracts exclusively to women-owned small businesses (WOSBs). But first, loopholes in the law needed to be closed.
“The loophole wasn’t keeping women out, it was allowing big companies to come in, so these emerging small businesses couldn’t compete,” she says.
What is a small business?
According to the SBA, to qualify for the WOSB federal contracting program, businesses must:
- be a small business that meets SBA size standards;
- Be at least 51% owned and controlled by women who are U.S. citizens.
- Have women manage day-to-day operations who also make long-term decisions.
“Businesses have to prove they’re women-owned. They don’t have to prove they’re a small business,” Malloy said. “There are probably companies like Spanx, which are women-owned companies that are now large and very successful. We shouldn’t be competing in the same group as these smaller companies.”
Spanx is an Atlanta-based shapewear company. The song’s fame skyrocketed after Oprah Winfrey included it on her list of “Oprah’s Favorite Things” in 2000, according to Success magazine.
Bridge burner or builder?
“New businesses don’t have to compete with big, established companies that have publicists, grant writers and staff available full-time,” she added.
Malloy said a successful female lawyer once told her that there are two types of successful women. One is the one who burns bridges behind herself, and the other is the woman who improves her bridges and brings other women entrepreneurs along with her.
RELATED: 2023 was full of challenges for Utah’s small businesses, but resources are available
Dave and Dujanovic can be heard weekdays from 9 a.m. to noon. on KSL News Radio. Users can find the show on his website and app at KSL NewsRadio, Apple Podcasts and Google Play.
[ad_2]
Source link
