Learn how new tax bill benefits entrepreneurs

Management Solutions President and Founder Misty Mayes was part of a panel discussion today on how the President’s new tax bill and other recent victories are finally Giving Women Entrepreneurs a Seat at the Table. Misty joined Eric Dailey from the National Veteran Small Business Coalition and Barbara Ashe from the Veteran Institute for Procurement (VIP) Program in a panel discussion at the National 8(a) Association’s 2018 Small Business Conference in Nashville.


Mayes, whose company was recently accepted into the Small Business Administration’s 8(a) program, spoke at the conference on behalf of the national Women Impacting Public Policy organization. Mayes sits on WIPP’s board and co-chairs the organization’s Leadership Advisory Council and Healthcare Committee. Mayes is often called upon to speak on behalf of woman-owned small businesses and enjoys the opportunity to do so. In fact, this past year, she was among a group of 100 small business owners who met with President Trump and SBA Administrator Linda McMahon. Later, she was called on again to meet with key members of Congress before their vote on tax reform.

During today’s discussion, Mayes explained how the new tax bill can potentially help small businesses. She also explained how WIPP’s work has led to the following other recent victories for woman-owned small businesses (WOSBs):

2013 – Congress removed dollar limits on set-aside awards for WOSBs

2015 -  The federal government meeting the 5 percent mandate of federal procurements going to WOSBs. (Unfortunately, the next year, that number decreased to 4.79 percent, which means women missed out on more than $1 billion in contracts.

2016 – The government added 30 new areas or NAICS codes that could be set-aside for contracts with WOSBs, expanding the number of WOSB NAICS codes from 83 to 113.

2017 – Congress directed the SBA to study small business participation on Multiple Award Contracts as a provision of its 2018 National Defense Authorization Act (NDAA). This move was in response to a WIPP report revealing that WOSB owners are being shut out of large government contracts.

To learn more these and other issues facing WOSBs, visit WIPP’s website: http://www.wipp.org/

The National 8(a) Association 2018 Small Business Conference continues through tomorrow, Feb. 1. For more info:  https://www.national8aassociation.org/2018-conference/.  To follow the conference on social media, use #N8ASmallBiz18

Facebook: fb.com/National8a/

Twitter: twitter.com/National_8a

LinkedIn: linkedin.com/company/2352415/


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