What: Allows federal agencies, under certain condtions, to award sole-source contracts to women-owned small businesses
Contract ceilings: $4 million, with the exception of manufacturing contracts which are capped at $6.5 million
Limits: Industries designated by the SBA as underrepresented
A new SBA rule that went into effect this fall creates a level-playing field for woman-owned businesses vying for federal government contracts, two Knoxville entrepreneurs say.
Misty Mayes, CEO of Management Solutions, and Bonnie Carroll, CEO of Information International Associates, say giving agencies the ability to award sole-source contracts to woman-owned small businesses — in certain industries with dollar-amount ceilings — is long overdue. Previously, the program was the only major small business contracting program without that authority.