Margarita Howard, CEO Of HX5, On How Women Entrepreneurs Can Win In Business
The United States Small Business Administration reports a rise in women-owned businesses, with approximately 13 million such enterprises contributing significantly to the U.S. economy. This growth highlights the increasing impact of women entrepreneurs across a broad spectrum of industries, including the competitive field of government contracting.
Howard says, “As more women-owned businesses enter the government contracting market, competition for contracts is intensifying. Accordingly, with an increase in the number of businesses that may be competing for work, it continues to be of critical importance for any business, women-owned or otherwise, to differentiate themselves through their unique capabilities, past performance, and value propositions that they can offer to the government.”
Howard emphasizes the importance of differentiation in the government contracting market, noting the critical role unique capabilities, past performance, and value propositions play in standing out among competitors. As the number of women-owned businesses entering this space increases, so does the competition for contracts.
However, this also opens up new avenues for collaboration and teaming, allowing WOSBs to partner with other firms, including large prime contractors or other small businesses, to pursue larger contracts requiring diverse expertise.
Traversing the path to building a successful WOSB in the government contracting sector is fraught with challenges, from intense competition to the complexities of regulatory compliance. Yet Howard views these challenges as opportunities for growth and differentiation.
The rise in women-owned businesses is widely seen as advantageous, creating more opportunities for collaboration and teamwork. “Women-owned businesses can benefit from partnering with other firms, including large primes or other small businesses, to pursue larger contracts or projects requiring diverse expertise,” she says.
Recently, the government has embraced a significant trend toward allowing much of the work traditionally conducted on-site to be carried out through remote work arrangements and virtual collaboration.
“The shift toward remote work and virtual collaboration, accelerated by the COVID-19 pandemic, is heavily influencing how government contracts are being performed, and women-owned businesses that develop the skill sets and infrastructure to effectively deliver services remotely may have a competitive advantage in the very near future,” Howard says.
There’s been a growing trend where government agencies emphasize sustainability and social responsibility factors when awarding contracts. “Women-owned businesses with environmentally friendly practices or social impact initiatives may be more attractive to government buyers based on the particulars of the agency and opportunity,” says Margarita Howard.
“Additionally, many companies are now starting to participate in the voluntary greenhouse gas emissions reporting requirements, and being able to show that a company is taking proactive steps to be more environmentally conscious can have a real impact in setting the company apart from others who are not.”
“Since each company is different, each company needs to consider these and other trends from the context of how the particular company operates and where that particular company wants to go, and then take into consideration the various trends and make adjustments as needed to get there.”
The HX5 team brings a wealth of knowledge and experience to support operations for the federal government, focusing mainly on the Department of Defense and NASA. Howard and her enterprise are involved in diverse projects, including research and development, engineering, information technology, and support for mission operations, showcasing versatility and commitment to advancing government initiatives.
The firm has operations across 34 states and 90 government locations. Headquartered in Fort Walton Beach, Florida, HX5 is powered by a robust workforce of over 1,000 employees, underlining its capacity to undertake and excel in significant projects. A testament to its prowess and strategic insight, the company has successfully secured and performed on multiple prime contracts (and subcontracts) supporting both the Department of Defence and NASA.
Originally published at https://washingtonindependent.org.
