If you are a woman or minority-owned business (M/WBE) owner in Connecticut, then the new state law, effective from October 01, will make it easier for you to conduct business with the state.

The Department of Administrative Services (DAS) commissioner Michelle Gilman announced certain budgetary reforms. This includes:

1. Increasing the amount required for prequalification from $500,000 to $1 million and reducing some bonding requirements for contracts below $1 million that had prevented some small firms.
2. Revising reporting requirements on agency expenditures to identify MWBE’s set-aside goals in conjunction with the current fiscal year and automate the reporting process. 
3. Raising the minimums for minor purchases from $10,000 to $25,000 and the posting requirement for competitively bid purchases from $50,000 to $100,000.

“October 01 marks an important step in our collaborative effort to expand opportunities for prospective vendors to contract with the state of Connecticut,” explained Commissioner Gillman.

DAS offers a certification program through its Supplier Diversity Unit that gives small businesses and M/WBEs the tools they need to apply for state contract and procurement opportunities. The program, which now has over 1,800 registered companies, also works to ensure equitable access to these possibilities.

DAS also provides various other resources and services to assist small businesses scale. It collaborates closely with federal and state government partners such as the Small Business Administration and the Department of Economic and Community Development.

State Senator Doug McCrory stated, “We’ve now made it possible for a wider variety of Connecticut business contractors, including those owned by women and minority citizens, to bid for a wider variety of state projects without having to take on some expensive and burdensome bonding requirements.” 

Connecticut’s efforts to encourage M/WBE participation has reaped positive result, and since the turn of the century, the state’s women-owned business has grown by 56% and contributes $16 billion annually.

Apart from this new provision, the state administration provides other tools, resources, and funding and certification opportunities.