In a quintessential case of good news/bad news, the U.S. Small Business Administration (SBA) announced on March 2, 2016, that, for the first time, it met its goal in the amount of federal contracts awarded to women-owned small businesses (WOSB) — a goal that was set roughly 20 years ago.
But for a goal that took nearly two decades to reach, the total amount awarded may not sound very impressive. It was just 5.05%.
Why did it take 20 years to hit that mark—and why does it seem so low? The answers need some context, says John Shoraka, SBA associate administrator.