In a surprise to everyone except WCOE members, women-owned construction companies have increased by a whopping 41% in the past 8 years. In addition, it is one of only two industries in which economic clout of women-owned firms (meaning not only the growth in the number of firms but in the employment and revenues as well) has outpaced industry-level growth. The other industry was another non-traditional venture for women – mining.
In nearly all industries, women own 29% of the firms. However in construction women own just 8% of the total. With the new SBA 8m program mandating that a minimum of 5% of most government construction contracts be awarded to women-owned small business – the odds are definitely in favor of WCOE members being successful bidders.