Running a business is tough, but it can feel even tougher for women entrepreneurs. Landing contracts can be a challenge. But things are changing!
More and more, governments and big companies are looking to give women-owned businesses a fair shot.
This article highlights and analyzes recent changes in procurement policies that have a direct impact on women-owned businesses.
When women are informed about these policy changes, they can adapt their strategies, seize new opportunities, and navigate the evolving landscape of government and corporate procurement.
Implementation of the Public Procurement Act 2007
The Nigerian government implemented the Public Procurement Act 2007 to promote transparency, accountability, and competition in government procurement processes.
This legislation includes provisions aimed at promoting the participation of women-owned businesses in public procurement.
Recent amendments and updates to the Act may have introduced specific measures to further support and empower women entrepreneurs in accessing government contracts and procurement opportunities.
Women-owned businesses should stay informed about these changes to leverage the benefits and opportunities available under the Act.
Introduction of Set-Aside Programs for Women-Owned Businesses
Recent changes in Nigerian procurement policies may include the introduction of set-aside programs specifically designed to increase the participation of women-owned businesses in government procurement.
These programs aim to allocate a certain percentage of government contracts or procurement opportunities exclusively for women-owned businesses.
By setting aside contracts for women entrepreneurs, the government seeks to promote gender equality, economic empowerment, and inclusive growth.
Women-owned businesses should closely monitor these set-aside programs and ensure they meet the eligibility criteria to participate in the bidding process for reserved contracts.
Implementation of Gender-Responsive Procurement Practices
Recent changes in Nigerian procurement policies may emphasize the adoption of gender-responsive procurement practices across government agencies and entities.
Gender-responsive procurement involves considering the specific needs, priorities, and capabilities of women-owned businesses in procurement processes.
This may include measures such as simplifying bidding procedures, providing capacity-building support, and offering financial incentives to encourage the participation of women entrepreneurs in government contracts.
By incorporating gender considerations into procurement practices, the government aims to create a more inclusive and supportive environment for women-owned businesses to compete and thrive in the marketplace.
Strengthening Certification and Verification Processes for Women-Owned Businesses
Recent changes in procurement policies may involve efforts to strengthen certification and verification processes for women-owned businesses seeking to participate in government procurement.
The government may introduce stricter criteria and procedures to ensure the legitimacy and credibility of women-owned businesses claiming certification status.
By enhancing the transparency and integrity of certification processes, the government aims to foster trust and confidence in the procurement system, thereby facilitating greater participation of women-owned businesses in government contracts.
Women entrepreneurs should stay informed about any updates or changes to certification requirements and ensure compliance to access procurement opportunities effectively.
Staying Informed about Policy Changes
The following resources can help women-owned businesses to stay informed about recent policy changes that could benefit their businesses:
National Women Business Owners Corporation (NWBC): [nwbc.gov] – Tracks and reports on policy changes related to government contracting for WOEs.
Women’s Business Enterprise National Council (WBENC): [wbenc.org] – Provides updates on WBE certification requirements and advocacy efforts related to procurement policies.
Government Contracting Websites: Government agencies often announce policy changes on their contracting websites. Regularly check these websites for updates.
Industry Associations: Industry associations relevant to your business sector might have information on policy changes affecting procurement opportunities for WOEs.
Remember
Staying informed about recent changes in procurement policies empowers you to take advantage of new opportunities and compete more effectively for contracts.
By actively seeking information and utilizing available resources, women-owned businesses can leverage these positive policy shifts and thrive in the evolving procurement landscape.